BlackRock Floating Rate Income Trust (NYSE:BGT) Share Price Passes Above Fifty Day Moving Average – Should You Sell?

by · The Markets Daily

Shares of BlackRock Floating Rate Income Trust (NYSE:BGT – Get Free Report) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $12.87 and traded as high as $13.12. BlackRock Floating Rate Income Trust shares last traded at $13.03, with a volume of 117,923 shares traded.

BlackRock Floating Rate Income Trust Stock Down 1.4 %

The stock’s 50 day moving average is $12.88 and its 200 day moving average is $12.95.

BlackRock Floating Rate Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a $0.1203 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.44 annualized dividend and a yield of 11.09%.

Hedge Funds Weigh In On BlackRock Floating Rate Income Trust

Hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its stake in BlackRock Floating Rate Income Trust by 6.4% in the first 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 stake in shares of 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 valued at $2,451,000 after purchasing an additional 5,206 shares in the last quarter. MONECO Advisors LLC grew its holdings in shares of BlackRock Floating Rate Income Trust by 5.0% during the 3rd quarter. MONECO Advisors LLC now owns 24,377 shares of the investment management company’s stock valued at $315,000 after purchasing an additional 1,150 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in shares of BlackRock Floating Rate Income Trust by 12.7% during the 1st quarter. Avantax Advisory Services Inc. now owns 18,735 shares of the investment management company’s stock valued at $243,000 after purchasing an additional 2,112 shares during the last quarter. Finally, Private Advisor Group LLC acquired a new position in BlackRock Floating Rate Income Trust during the 3rd quarter worth approximately $152,000.

About BlackRock Floating Rate Income Trust

(Get Free Report)

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.

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