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

BlackRock Floating Rate Income Trust (NYSE:BGT) saw a large 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 trading volume of 93,700 shares, the days-to-cover ratio is currently 0.7 days.

BlackRock Floating Rate Income Trust Stock Performance

BGT traded down $0.14 during trading on Friday, hitting $12.76. The stock had a trading volume of 112,697 shares, compared to its average volume of 99,839. BlackRock Floating Rate Income Trust has a twelve month low of $11.23 and a twelve month high of $13.97. The company’s 50-day moving average price is $13.04 and its 200 day moving average price is $12.77.

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. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.44 annualized dividend and a yield of 11.29%.

Institutional Investors Weigh In On BlackRock Floating Rate Income Trust

A number of hedge funds have recently added to or reduced their stakes in the company. Wagner Wealth Management LLC lifted its holdings in shares of BlackRock Floating Rate Income Trust by 16.1% in the 4th quarter. Wagner Wealth Management LLC now owns 578,329 shares of the investment management company’s stock valued at $7,160,000 after buying an additional 80,361 shares during the period. Advisors Asset Management Inc. lifted its holdings in BlackRock Floating Rate Income Trust by 13.7% in the third quarter. Advisors Asset Management Inc. now owns 302,293 shares of the investment management company’s stock valued at $3,646,000 after acquiring an additional 36,363 shares during the period. MONECO Advisors LLC purchased a new stake in shares of BlackRock Floating Rate Income Trust during the 4th quarter worth $218,000. UBS Group AG boosted its position in shares of BlackRock Floating Rate Income Trust by 9.8% during the 3rd quarter. UBS Group AG now owns 375,386 shares of the investment management company’s stock worth $4,527,000 after purchasing an additional 33,604 shares in the last quarter. Finally, ICA Group Wealth Management LLC grew its stake in shares of BlackRock Floating Rate Income Trust by 12.7% during the 4th quarter. ICA Group Wealth Management LLC now owns 118,072 shares of the investment management company’s stock worth $1,462,000 after purchasing an additional 13,301 shares during the period.

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.