BlackRock Floating Rate Income Trust (NYSE:BGT) Shares Cross Above 50-Day Moving Average – Should You Sell?

BlackRock Floating Rate Income Trust (NYSE:BGT)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $13.06 and traded as high as $13.14. BlackRock Floating Rate Income Trust shares last traded at $13.03, with a volume of 75,920 shares.

BlackRock Floating Rate Income Trust Stock Performance

The stock’s 50 day moving average is $13.06 and its 200-day moving average is $12.95.

BlackRock Floating Rate Income Trust Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, December 23rd. Stockholders of record on Monday, December 16th were issued a $0.1203 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.08%. The ex-dividend date of this dividend was Monday, December 16th.

Hedge Funds Weigh In On BlackRock Floating Rate Income Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MML Investors Services LLC raised its stake in BlackRock Floating Rate Income Trust by 2.7% in the third quarter. MML Investors Services LLC now owns 96,891 shares of the investment management company’s stock valued at $1,254,000 after buying an additional 2,531 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its position in shares of BlackRock Floating Rate Income Trust by 56.0% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 19,778 shares of the investment management company’s stock valued at $256,000 after purchasing an additional 7,100 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of BlackRock Floating Rate Income Trust in the 3rd quarter valued at approximately $8,284,000. Graypoint LLC boosted its stake in 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 worth $2,451,000 after purchasing an additional 5,206 shares in the last quarter. Finally, MONECO Advisors LLC grew its position in 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 worth $315,000 after purchasing an additional 1,150 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.