BlackRock Floating Rate Income Trust (NYSE:BGT) Stock Price Crosses Below Fifty Day Moving Average – Should You Sell?
by Teresa Graham · The Cerbat GemBlackRock Floating Rate Income Trust (NYSE:BGT – Get Free Report)’s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $11.44 and traded as low as $11.31. BlackRock Floating Rate Income Trust shares last traded at $11.3250, with a volume of 248,831 shares traded.
BlackRock Floating Rate Income Trust Stock Up 0.0%
The company’s 50 day moving average price is $11.43 and its 200 day moving average price is $12.04.
BlackRock Floating Rate Income Trust Dividend Announcement
The business also recently announced a monthly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were paid a dividend of $0.1203 per share. This represents a c) annualized dividend and a yield of 12.7%. The ex-dividend date of this dividend was Monday, December 22nd.
Institutional Investors Weigh In On BlackRock Floating Rate Income Trust
A number of hedge funds have recently bought and sold shares of BGT. Guggenheim Capital LLC grew its position in shares of BlackRock Floating Rate Income Trust by 15.7% during the second quarter. Guggenheim Capital LLC now owns 1,374,019 shares of the investment management company’s stock worth $17,203,000 after buying an additional 186,748 shares in the last quarter. Donoghue Forlines LLC purchased a new position in BlackRock Floating Rate Income Trust in the third quarter worth approximately $11,418,000. Penserra Capital Management LLC purchased a new position in BlackRock Floating Rate Income Trust in the third quarter worth approximately $9,057,000. Ameriprise Financial Inc. grew its holdings in BlackRock Floating Rate Income Trust by 25.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 510,947 shares of the investment management company’s stock worth $6,208,000 after acquiring an additional 102,959 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of BlackRock Floating Rate Income Trust by 15.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 405,643 shares of the investment management company’s stock valued at $4,929,000 after purchasing an additional 53,124 shares during the last quarter.
BlackRock Floating Rate Income Trust Company Profile
BlackRock Floating Rate Income Trust (NYSE: BGT) is a diversified, closed-end management investment company that seeks to generate current income by investing in floating rate debt instruments. Established and managed by BlackRock Advisors, the trust provides investors with exposure to senior secured loans, high-yield corporate debt, collateralized loan obligations (CLOs) and other floating rate credit products. By focusing on floating rate securities, the fund aims to offer protection against rising interest rates while pursuing consistent income generation.
The trust’s portfolio is constructed through an active, research-driven process led by a team of credit specialists within BlackRock’s Global Credit platform.