BlackRock Floating Rate Income Trust (NYSE:BGT) Shares Cross Below 50-Day Moving Average of $12.91

BlackRock Floating Rate Income Trust (NYSE:BGT)’s share price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $12.91 and traded as low as $12.68. BlackRock Floating Rate Income Trust shares last traded at $12.72, with a volume of 106,189 shares trading hands.

BlackRock Floating Rate Income Trust Stock Down 1.0 %

The business has a fifty day moving average of $12.91 and a 200-day moving average of $12.98.

BlackRock Floating Rate Income Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be given a $0.12 dividend. This represents a $1.44 annualized dividend and a dividend yield of 11.32%. The ex-dividend date of this dividend is Thursday, August 15th.

Hedge Funds Weigh In On BlackRock Floating Rate Income Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BGT. Avantax Advisory Services Inc. raised its stake in shares of BlackRock Floating Rate Income Trust by 12.7% in the first 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 last quarter. Principal Securities Inc. purchased a new stake in shares of BlackRock Floating Rate Income Trust in the fourth quarter worth about $29,000. Jones Road Capital Management L.P. grew its holdings in BlackRock Floating Rate Income Trust by 8.1% during the fourth quarter. Jones Road Capital Management L.P. now owns 40,311 shares of the investment management company’s stock worth $499,000 after acquiring an additional 3,011 shares during the period. Graypoint LLC raised its position in BlackRock Floating Rate Income Trust by 2.9% during the first quarter. Graypoint LLC now owns 179,139 shares of the investment management company’s stock valued at $2,325,000 after acquiring an additional 5,010 shares in the last quarter. Finally, MONECO Advisors LLC lifted its holdings in BlackRock Floating Rate Income Trust by 31.6% in the first quarter. MONECO Advisors LLC now owns 23,227 shares of the investment management company’s stock valued at $301,000 after acquiring an additional 5,582 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.