Short Interest in BlackRock Floating Rate Income Trust (NYSE:BGT) Increases By 153.9%

BlackRock Floating Rate Income Trust (NYSE:BGTGet Free Report) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 45,700 shares, an increase of 153.9% from the January 15th total of 18,000 shares. Based on an average daily volume of 104,200 shares, the days-to-cover ratio is presently 0.4 days.

BlackRock Floating Rate Income Trust Price Performance

NYSE BGT opened at $12.69 on Tuesday. The business’s 50 day moving average price is $12.22 and its 200-day moving average price is $12.03. BlackRock Floating Rate Income Trust has a fifty-two week low of $10.75 and a fifty-two week high of $12.69.

BlackRock Floating Rate Income Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, February 29th. Stockholders of record on Thursday, February 15th will be given a dividend of $0.12 per share. This represents a $1.44 annualized dividend and a dividend yield of 11.35%. The ex-dividend date is Wednesday, February 14th.

Hedge Funds Weigh In On BlackRock Floating Rate Income Trust

Large investors have recently modified their holdings of the stock. Principal Securities Inc. purchased a new position in BlackRock Floating Rate Income Trust during the 4th quarter valued at $29,000. PNC Financial Services Group Inc. purchased a new position in BlackRock Floating Rate Income Trust during the 2nd quarter valued at $35,000. Cullen Frost Bankers Inc. purchased a new position in BlackRock Floating Rate Income Trust during the 2nd quarter valued at $36,000. Private Advisor Group LLC purchased a new position in BlackRock Floating Rate Income Trust during the 1st quarter valued at $149,000. Finally, Susquehanna International Group LLP purchased a new position in BlackRock Floating Rate Income Trust during the 4th quarter valued at $155,000.

About BlackRock Floating Rate Income Trust

(Get Free Report)

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.

Further Reading

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