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 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 trading volume of 96,900 shares, the days-to-cover ratio is currently 1.1 days.

BlackRock Floating Rate Income Trust Price Performance

Shares of NYSE:BGT traded up $0.12 during trading on Friday, reaching $13.04. 67,512 shares of the company’s stock traded hands, compared to its average volume of 103,175. BlackRock Floating Rate Income Trust has a fifty-two week low of $11.77 and a fifty-two week high of $13.97. The company has a 50-day simple moving average of $12.95 and a 200-day simple moving average of $12.96.

BlackRock Floating Rate Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.1203 dividend. This represents a $1.44 annualized dividend and a yield of 11.07%. The ex-dividend date is Friday, November 15th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BGT. Penserra Capital Management LLC acquired a new position in BlackRock Floating Rate Income Trust during the third quarter worth $8,284,000. Advisors Asset Management Inc. lifted its stake in BlackRock Floating Rate Income Trust by 6.4% in the 1st quarter. Advisors Asset Management Inc. now owns 422,855 shares of the investment management company’s stock valued at $5,489,000 after buying an additional 25,614 shares in the last quarter. Graypoint LLC boosted its holdings in BlackRock Floating Rate Income Trust by 2.8% in the 3rd quarter. Graypoint LLC now owns 189,418 shares of the investment management company’s stock worth $2,451,000 after buying an additional 5,206 shares during the last quarter. MML Investors Services LLC raised 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 valued at $1,254,000 after acquiring an additional 2,531 shares during the last quarter. Finally, MONECO Advisors LLC lifted its position in shares of BlackRock Floating Rate Income Trust by 5.0% in the third 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 in the last quarter.

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.