Waterfront Wealth Inc. Trims Stock Holdings in BlackRock Floating Rate Income Trust (NYSE:BGT)

Waterfront Wealth Inc. reduced its holdings in BlackRock Floating Rate Income Trust (NYSE:BGT) by 4.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 92,329 shares of the investment management company’s stock after selling 4,154 shares during the quarter. Waterfront Wealth Inc.’s holdings in BlackRock Floating Rate Income Trust were worth $1,143,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. acquired a new position in BlackRock Floating Rate Income Trust in the second quarter valued at $35,000. Cullen Frost Bankers Inc. increased its stake in BlackRock Floating Rate Income Trust by 59.8% during the third quarter. Cullen Frost Bankers Inc. now owns 4,999 shares of the investment management company’s stock worth $60,000 after acquiring an additional 1,870 shares during the last quarter. Private Advisor Group LLC acquired a new stake in BlackRock Floating Rate Income Trust during the first quarter worth about $149,000. Susquehanna International Group LLP acquired a new stake in BlackRock Floating Rate Income Trust during the fourth quarter worth about $155,000. Finally, Stephens Inc. AR increased its stake in BlackRock Floating Rate Income Trust by 6.6% during the first quarter. Stephens Inc. AR now owns 16,095 shares of the investment management company’s stock worth $180,000 after acquiring an additional 1,000 shares during the last quarter.

BlackRock Floating Rate Income Trust Stock Performance

NYSE:BGT traded down $0.02 on Wednesday, hitting $12.71. 121,866 shares of the stock were exchanged, compared to its average volume of 104,994. The stock has a fifty day moving average of $12.95 and a 200-day moving average of $12.36. BlackRock Floating Rate Income Trust has a fifty-two week low of $10.95 and a fifty-two week high of $13.42.

BlackRock Floating Rate Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be paid a $0.12 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.33%.

About BlackRock Floating Rate Income Trust

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.