BlackRock Floating Rate Income Trust (NYSE:BGT) Sees Large Growth in Short Interest

BlackRock Floating Rate Income Trust (NYSE:BGT) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 69,100 shares, a growth of 44.6% from the May 31st total of 47,800 shares. Based on an average daily volume of 93,700 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Trading of BlackRock Floating Rate Income Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the business. UBS Group AG raised its holdings in BlackRock Floating Rate Income Trust by 9.8% in the third quarter. UBS Group AG now owns 375,386 shares of the investment management company’s stock valued at $4,527,000 after acquiring an additional 33,604 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of BlackRock Floating Rate Income Trust by 13.7% during the third quarter. Advisors Asset Management Inc. now owns 302,293 shares of the investment management company’s stock worth $3,646,000 after purchasing an additional 36,363 shares during the last quarter. Wagner Wealth Management LLC grew its stake in BlackRock Floating Rate Income Trust by 16.1% in the fourth quarter. Wagner Wealth Management LLC now owns 578,329 shares of the investment management company’s stock worth $7,160,000 after purchasing an additional 80,361 shares in the last quarter. Graypoint LLC increased its holdings in BlackRock Floating Rate Income Trust by 5.0% in the fourth quarter. Graypoint LLC now owns 174,129 shares of the investment management company’s stock valued at $2,156,000 after buying an additional 8,294 shares during the last quarter. Finally, Conning Inc. increased its holdings in BlackRock Floating Rate Income Trust by 3.9% in the fourth quarter. Conning Inc. now owns 25,307 shares of the investment management company’s stock valued at $313,000 after buying an additional 949 shares during the last quarter.

BlackRock Floating Rate Income Trust Stock Performance

Shares of NYSE:BGT traded up $0.15 during mid-day trading on Monday, hitting $12.91. 56,613 shares of the company traded hands, compared to its average volume of 99,492. The firm’s 50 day simple moving average is $13.04 and its 200 day simple moving average is $12.77. BlackRock Floating Rate Income Trust has a 52-week low of $11.23 and a 52-week high of $13.97.

BlackRock Floating Rate Income Trust Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.12 per share. This represents a $1.44 dividend on an annualized basis and a yield of 11.15%. The ex-dividend date of this dividend was Friday, June 14th.

BlackRock Floating Rate Income Trust Company Profile

BlackRock Floating Rate Income Trust is a close ended fixed income mutual fund launched by BlackRoack Inc The fund is co-managed by BlackRock Advisors, LLC and BlackRock Financial Management, Inc It invests in the fixed income markets across the globe while focusing on the United States. The fund invests in bonds of companies operating across diversified sectors.