BlackRock Floating Rate Income Trust (NYSE:BGT) Stock Crosses Above Fifty Day Moving Average – Time to Sell?

Shares of BlackRock Floating Rate Income Trust (NYSE:BGT) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty 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 Performance

The stock’s 50 day simple moving average is $12.87 and its two-hundred day simple moving average is $12.94.

BlackRock Floating Rate Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be given a $0.1203 dividend. This represents a $1.44 annualized dividend and a dividend yield of 11.08%. The ex-dividend date is Tuesday, October 15th.

Institutional Investors Weigh In On BlackRock Floating Rate Income Trust

Institutional investors have recently added to or reduced their stakes in the company. Graypoint LLC lifted its stake in shares of BlackRock Floating Rate Income Trust by 2.9% in the 1st quarter. Graypoint LLC now owns 179,139 shares of the investment management company’s stock valued at $2,325,000 after purchasing an additional 5,010 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in BlackRock Floating Rate Income Trust by 12.7% during 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 in the last quarter. Advisors Asset Management Inc. grew its stake in BlackRock Floating Rate Income Trust by 6.4% during the first quarter. Advisors Asset Management Inc. now owns 422,855 shares of the investment management company’s stock worth $5,489,000 after buying an additional 25,614 shares during the period. Private Advisor Group LLC acquired a new stake in shares of BlackRock Floating Rate Income Trust in the third quarter worth $152,000. Finally, MONECO Advisors LLC raised its stake in shares of BlackRock Floating Rate Income Trust by 5.0% in the 3rd quarter. MONECO Advisors LLC now owns 24,377 shares of the investment management company’s stock valued at $315,000 after acquiring an additional 1,150 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.