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

BlackRock Floating Rate Income Trust (NYSE:BGT) saw a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 126,200 shares, an increase of 17.3% from the November 15th total of 107,600 shares. Based on an average trading volume of 106,800 shares, the short-interest ratio is currently 1.2 days.

BlackRock Floating Rate Income Trust Stock Up 0.8 %

Shares of BlackRock Floating Rate Income Trust stock traded up $0.11 during trading on Monday, hitting $13.30. 58,499 shares of the stock were exchanged, compared to its average volume of 104,959. BlackRock Floating Rate Income Trust has a 1-year low of $12.01 and a 1-year high of $13.97. The company has a fifty day moving average price of $13.07 and a 200-day moving average price of $12.95.

BlackRock Floating Rate Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 16th will be paid a dividend of $0.1203 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.44 annualized dividend and a dividend yield of 10.85%.

Institutional Investors Weigh In On BlackRock Floating Rate Income Trust

Several hedge funds have recently added to or reduced their stakes in BGT. Penserra Capital Management LLC bought a new position in shares of BlackRock Floating Rate Income Trust in the third quarter valued at about $8,284,000. Private Advisor Group LLC bought a new position in BlackRock Floating Rate Income Trust in the 3rd quarter valued at about $152,000. Horizon Kinetics Asset Management LLC raised its holdings in BlackRock Floating Rate Income Trust by 56.0% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 19,778 shares of the investment management company’s stock valued at $256,000 after acquiring an additional 7,100 shares during the period. Graypoint LLC lifted its position in BlackRock Floating Rate Income Trust by 2.8% during the third quarter. Graypoint LLC now owns 189,418 shares of the investment management company’s stock worth $2,451,000 after acquiring an additional 5,206 shares during the last quarter. Finally, MML Investors Services LLC boosted its holdings in shares of BlackRock Floating Rate Income Trust by 2.7% during the third quarter. MML Investors Services LLC now owns 96,891 shares of the investment management company’s stock worth $1,254,000 after acquiring an additional 2,531 shares during the period.

About BlackRock Floating Rate Income Trust

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.