Pinnacle Associates Ltd. Reduces Holdings in BlackRock Floating Rate Income Trust (NYSE:BGT)

Pinnacle Associates Ltd. decreased its holdings in BlackRock Floating Rate Income Trust (NYSE:BGT) by 3.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,698 shares of the investment management company’s stock after selling 2,025 shares during the quarter. Pinnacle Associates Ltd.’s holdings in BlackRock Floating Rate Income Trust were worth $607,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Dynamic Advisor Solutions LLC acquired a new position in shares of BlackRock Floating Rate Income Trust during the first quarter valued at approximately $138,000. Wiley BROS. Aintree Capital LLC acquired a new position in shares of BlackRock Floating Rate Income Trust during the first quarter valued at approximately $158,000. Two Sigma Securities LLC acquired a new position in shares of BlackRock Floating Rate Income Trust during the fourth quarter valued at approximately $163,000. Round Table Services LLC acquired a new position in shares of BlackRock Floating Rate Income Trust during the first quarter valued at approximately $175,000. Finally, CWM LLC acquired a new position in shares of BlackRock Floating Rate Income Trust during the fourth quarter valued at approximately $181,000.

Shares of BlackRock Floating Rate Income Trust stock traded up $0.08 during mid-day trading on Wednesday, reaching $12.36. 59,205 shares of the stock traded hands, compared to its average volume of 89,380. The company has a 50-day moving average price of $12.40. BlackRock Floating Rate Income Trust has a fifty-two week low of $11.26 and a fifty-two week high of $13.31.

The business also recently declared a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.062 dividend. The ex-dividend date is Thursday, June 13th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 6.02%.

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.

Further Reading: Certificate of Deposit (CD)

Institutional Ownership by Quarter for BlackRock Floating Rate Income Trust (NYSE:BGT)

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