BlackRock Floating Rate Income Trust (NYSE:BGT) Shares Cross Below 200-Day Moving Average – Time to Sell?

Shares of BlackRock Floating Rate Income Trust (NYSE:BGT) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.96 and traded as low as $10.67. BlackRock Floating Rate Income Trust shares last traded at $10.8650, with a volume of 421,703 shares changing hands.

BlackRock Floating Rate Income Trust Trading Up 1.4%

The company has a 50-day moving average price of $10.72 and a two-hundred day moving average price of $10.96.

BlackRock Floating Rate Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.1203 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 13.3%.

Institutional Trading of BlackRock Floating Rate Income Trust

Several institutional investors and hedge funds have recently bought and sold shares of BGT. CoreCap Advisors LLC boosted its holdings in BlackRock Floating Rate Income Trust by 100.0% in the 2nd quarter. CoreCap Advisors LLC now owns 2,600 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 1,300 shares during the period. Arkadios Wealth Advisors purchased a new stake in shares of BlackRock Floating Rate Income Trust in the first quarter worth $141,000. Icon Advisers Inc. Co. boosted its stake in BlackRock Floating Rate Income Trust by 24.7% during the first quarter. Icon Advisers Inc. Co. now owns 103,027 shares of the investment management company’s stock valued at $1,109,000 after buying an additional 20,409 shares during the period. Cassaday & Co Wealth Management LLC purchased a new position in BlackRock Floating Rate Income Trust during the first quarter worth about $60,000. Finally, Private Advisor Group LLC increased its stake in BlackRock Floating Rate Income Trust by 7.0% in the 1st quarter. Private Advisor Group LLC now owns 21,731 shares of the investment management company’s stock worth $234,000 after acquiring an additional 1,423 shares during the last quarter.

About BlackRock Floating Rate Income Trust

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.