BlackRock Floating Rate Income Trust (NYSE:BGT) Shares Pass Below 200 Day Moving Average – What’s Next?

Shares of BlackRock Floating Rate Income Trust (NYSE:BGT) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $11.09 and traded as low as $10.68. BlackRock Floating Rate Income Trust shares last traded at $10.7540, with a volume of 178,589 shares changing hands.

BlackRock Floating Rate Income Trust Stock Performance

The stock’s 50-day moving average price is $10.87 and its 200-day moving average price is $11.09.

BlackRock Floating Rate Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.1203 per share. This represents a c) dividend on an annualized basis and a dividend yield of 13.4%. The ex-dividend date is Tuesday, September 15th.

Institutional Investors Weigh In On BlackRock Floating Rate Income Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. raised its position in shares of BlackRock Floating Rate Income Trust by 15.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 405,643 shares of the investment management company’s stock worth $4,929,000 after purchasing an additional 53,124 shares during the last quarter. Shaker Financial Services LLC acquired a new position in BlackRock Floating Rate Income Trust in the 4th quarter valued at $565,000. Byrne Asset Management LLC acquired a new position in BlackRock Floating Rate Income Trust in the 4th quarter valued at $1,076,000. Absolute Investment Advisers LLC acquired a new position in BlackRock Floating Rate Income Trust in the 4th quarter valued at $2,276,000. Finally, Wolverine Asset Management LLC acquired a new position in BlackRock Floating Rate Income Trust in the 4th quarter valued at $1,337,000.

BlackRock Floating Rate Income Trust Company Profile

BlackRock Floating Rate Income Trust (NYSE: BGT) is a diversified, closed-end management investment company that seeks to generate current income by investing in floating rate debt instruments. Established and managed by BlackRock Advisors, the trust provides investors with exposure to senior secured loans, high-yield corporate debt, collateralized loan obligations (CLOs) and other floating rate credit products. By focusing on floating rate securities, the fund aims to offer protection against rising interest rates while pursuing consistent income generation.

The trust’s portfolio is constructed through an active, research-driven process led by a team of credit specialists within BlackRock’s Global Credit platform.