Samalin Investment Counsel LLC Cuts Position in BlackRock Floating Rate Income Trust (NYSE:BGT)

Samalin Investment Counsel LLC cut its stake in BlackRock Floating Rate Income Trust (NYSE:BGTGet Rating) by 4.9% in the 4th quarter, Holdings Channel reports. The fund owned 36,302 shares of the investment management company’s stock after selling 1,857 shares during the quarter. Samalin Investment Counsel LLC’s holdings in BlackRock Floating Rate Income Trust were worth $397,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BGT. MML Investors Services LLC raised its position in BlackRock Floating Rate Income Trust by 2.7% in the 3rd quarter. MML Investors Services LLC now owns 88,107 shares of the investment management company’s stock worth $957,000 after purchasing an additional 2,343 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of BlackRock Floating Rate Income Trust by 10.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 28,705 shares of the investment management company’s stock valued at $366,000 after acquiring an additional 2,817 shares during the last quarter. Hollencrest Capital Management purchased a new stake in BlackRock Floating Rate Income Trust during the 4th quarter valued at about $37,000. Commonwealth Equity Services LLC grew its position in BlackRock Floating Rate Income Trust by 22.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 19,334 shares of the investment management company’s stock worth $211,000 after acquiring an additional 3,547 shares during the last quarter. Finally, Wolverine Asset Management LLC increased its position in BlackRock Floating Rate Income Trust by 23.2% during the 4th quarter. Wolverine Asset Management LLC now owns 21,124 shares of the investment management company’s stock valued at $231,000 after buying an additional 3,979 shares in the last quarter.

BlackRock Floating Rate Income Trust Trading Up 0.2 %

Shares of NYSE:BGT traded up $0.02 during trading on Friday, reaching $11.00. 34,645 shares of the stock traded hands, compared to its average volume of 84,682. The stock has a 50-day moving average of $11.21 and a two-hundred day moving average of $11.28. BlackRock Floating Rate Income Trust has a 52-week low of $10.56 and a 52-week high of $12.17.

BlackRock Floating Rate Income Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 31st. Investors of record on Monday, May 15th will be given a dividend of $0.108 per share. This represents a $1.30 dividend on an annualized basis and a yield of 11.78%. The ex-dividend date is Friday, May 12th.

About BlackRock Floating Rate Income Trust

(Get Rating)

BlackRock Floating Rate Income Trust is a closed-end investment fund/investment trust. The company’s investment objective is to provide high level of current income and secondary objective to seek the preservation of capital to the extent consistent with its primary objective of high current income. The company was founded in August 2004 and is headquartered in Wilmington, DE.

Further Reading

Want to see what other hedge funds are holding BGT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BlackRock Floating Rate Income Trust (NYSE:BGTGet Rating).

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

Receive News & Ratings for BlackRock Floating Rate Income Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock Floating Rate Income Trust and related companies with MarketBeat.com's FREE daily email newsletter.