BlackRock Floating Rate Income Trust (NYSE:BGT) Short Interest Up 25.6% in October

BlackRock Floating Rate Income Trust (NYSE:BGT) was the target of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 102,100 shares, an increase of 25.6% from the October 15th total of 81,300 shares. Based on an average daily volume of 96,900 shares, the days-to-cover ratio is presently 1.1 days.

BlackRock Floating Rate Income Trust Stock Performance

BlackRock Floating Rate Income Trust stock opened at $13.04 on Friday. The business has a 50-day simple moving average of $12.95 and a two-hundred day simple moving average of $12.96. BlackRock Floating Rate Income Trust has a 52-week low of $11.77 and a 52-week high of $13.97.

BlackRock Floating Rate Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.1203 per share. The ex-dividend date is Friday, November 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.07%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. MONECO Advisors LLC grew its stake in shares of BlackRock Floating Rate Income Trust by 5.0% during the 3rd quarter. MONECO Advisors LLC now owns 24,377 shares of the investment management company’s stock valued at $315,000 after acquiring an additional 1,150 shares during the period. Avantax Advisory Services Inc. boosted its stake in BlackRock Floating Rate Income Trust by 12.7% in the 1st quarter. Avantax Advisory Services Inc. now owns 18,735 shares of the investment management company’s stock worth $243,000 after purchasing an additional 2,112 shares during the period. MML Investors Services LLC boosted its stake in BlackRock Floating Rate Income Trust by 2.7% in the 3rd quarter. MML Investors Services LLC now owns 96,891 shares of the investment management company’s stock worth $1,254,000 after purchasing an additional 2,531 shares during the period. Graypoint LLC boosted its stake in BlackRock Floating Rate Income Trust by 2.8% in the 2nd quarter. Graypoint LLC now owns 184,212 shares of the investment management company’s stock worth $2,351,000 after purchasing an additional 5,073 shares during the period. Finally, Horizon Kinetics Asset Management LLC boosted its stake 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 worth $256,000 after purchasing an additional 7,100 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.