BlackRock Floating Rate Income Trust (NYSE:BGT) Short Interest Up 38.6% in February

BlackRock Floating Rate Income Trust (NYSE:BGT) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 60,300 shares, an increase of 38.6% from the January 31st total of 43,500 shares. Based on an average daily trading volume, of 151,500 shares, the days-to-cover ratio is presently 0.4 days.

BlackRock Floating Rate Income Trust Stock Performance

Shares of BGT stock traded up $0.14 during midday trading on Monday, hitting $12.79. 195,808 shares of the company were exchanged, compared to its average volume of 113,904. BlackRock Floating Rate Income Trust has a 52 week low of $12.05 and a 52 week high of $13.97. The firm’s 50 day moving average price is $12.71 and its two-hundred day moving average price is $12.87.

BlackRock Floating Rate Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.1203 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.29%. The ex-dividend date of this dividend was Friday, February 14th.

Hedge Funds Weigh In On BlackRock Floating Rate Income Trust

Several institutional investors and hedge funds have recently made changes to their positions in the company. Penserra Capital Management LLC bought a new stake in BlackRock Floating Rate Income Trust in the 3rd quarter valued at $8,284,000. Guggenheim Capital LLC boosted its position in shares of BlackRock Floating Rate Income Trust by 38.7% in the fourth quarter. Guggenheim Capital LLC now owns 981,677 shares of the investment management company’s stock valued at $12,624,000 after acquiring an additional 273,835 shares during the period. LPL Financial LLC boosted its position in shares of BlackRock Floating Rate Income Trust by 19.3% in the fourth quarter. LPL Financial LLC now owns 486,324 shares of the investment management company’s stock valued at $6,254,000 after acquiring an additional 78,573 shares during the period. Raymond James Financial Inc. acquired a new position in shares of BlackRock Floating Rate Income Trust in the fourth quarter valued at about $705,000. Finally, LaSalle St. Investment Advisors LLC bought a new position in BlackRock Floating Rate Income Trust during the fourth quarter worth about $298,000.

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.