Absolute Investment Advisers LLC Purchases 63,974 Shares of BlackRock Floating Rate Income Trust $BGT

Absolute Investment Advisers LLC raised its position in shares of BlackRock Floating Rate Income Trust (NYSE:BGT) by 32.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 262,400 shares of the investment management company’s stock after purchasing an additional 63,974 shares during the quarter. Absolute Investment Advisers LLC’s holdings in BlackRock Floating Rate Income Trust were worth $2,823,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its stake in shares of BlackRock Floating Rate Income Trust by 77.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,200 shares of the investment management company’s stock valued at $36,000 after buying an additional 1,400 shares in the last quarter. EFG International AG purchased a new stake in BlackRock Floating Rate Income Trust in the 4th quarter worth $52,000. Kestra Advisory Services LLC purchased a new stake in BlackRock Floating Rate Income Trust in the 4th quarter worth $73,000. Stronghold Wealth Management L.L.C. bought a new stake in BlackRock Floating Rate Income Trust during the fourth quarter valued at about $132,000. Finally, Jane Street Group LLC bought a new position in shares of BlackRock Floating Rate Income Trust in the second quarter worth about $138,000.

BlackRock Floating Rate Income Trust Trading Up 0.1%

NYSE:BGT opened at $10.53 on Monday. The stock has a 50-day moving average price of $10.81 and a 200 day moving average price of $11.04. BlackRock Floating Rate Income Trust has a 12-month low of $10.22 and a 12-month high of $12.76.

BlackRock Floating Rate Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.1203 per share. This represents a c) dividend on an annualized basis and a yield of 13.7%. The ex-dividend date of this dividend is Tuesday, September 15th.

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.