BlackRock Floating Rate Income Trust (NYSE:BGT) Shares Pass Above 50-Day Moving Average – Here’s Why

BlackRock Floating Rate Income Trust (NYSE:BGT) shares passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $12.82 and traded as high as $13.37. BlackRock Floating Rate Income Trust shares last traded at $13.07, with a volume of 220,947 shares.

BlackRock Floating Rate Income Trust Stock Up 0.6 %

The business has a 50 day simple moving average of $12.82 and a 200-day simple moving average of $12.94.

BlackRock Floating Rate Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be paid a $0.1203 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.44 annualized dividend and a dividend yield of 11.04%.

Institutional Trading of BlackRock Floating Rate Income Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. grew its position 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 worth $5,489,000 after acquiring an additional 25,614 shares during the period. Graypoint LLC grew its holdings in shares of BlackRock Floating Rate Income Trust by 2.8% during the 2nd quarter. Graypoint LLC now owns 184,212 shares of the investment management company’s stock worth $2,351,000 after purchasing an additional 5,073 shares during the period. ICA Group Wealth Management LLC increased its position in shares of BlackRock Floating Rate Income Trust by 12.7% during the 4th quarter. ICA Group Wealth Management LLC now owns 118,072 shares of the investment management company’s stock worth $1,462,000 after purchasing an additional 13,301 shares during the last quarter. Jones Road Capital Management L.P. raised its holdings in BlackRock Floating Rate Income Trust by 8.1% in the 4th quarter. Jones Road Capital Management L.P. now owns 40,311 shares of the investment management company’s stock valued at $499,000 after buying an additional 3,011 shares during the period. Finally, Avantax Advisory Services Inc. lifted its position in 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 valued at $243,000 after buying an additional 2,112 shares during the last quarter.

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.