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

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

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

BlackRock Floating Rate Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, December 23rd. Shareholders of record on Monday, December 16th were paid a $0.1203 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 11.14%. The ex-dividend date was Monday, December 16th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Private Advisor Group LLC purchased a new stake in BlackRock Floating Rate Income Trust during the third quarter worth approximately $152,000. Horizon Kinetics Asset Management LLC boosted its holdings 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 buying an additional 7,100 shares in the last quarter. MONECO Advisors LLC lifted its position in BlackRock Floating Rate Income Trust by 5.0% in the third 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 last quarter. MML Investors Services LLC boosted 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 acquiring an additional 2,531 shares in the last quarter. Finally, Graypoint LLC grew its holdings in shares of BlackRock Floating Rate Income Trust by 2.8% during the second 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 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.