BlackRock floating rate income trust director acquires shares for $130 By Investing.com

On October 29, 2024, Harris Stayce D., a director at BlackRock (NYSE:) Floating Rate Income Trust (NYSE:BGT), acquired 10 shares of common stock at a price of $13.06 per share. The total value of the transaction amounted to $130. This acquisition increases Harris’s direct ownership in the company to 10 shares. The transaction was documented in a Form 4 filing with the Securities and Exchange Commission.

InvestingPro Insights

While Harris Stayce D.’s recent acquisition of 10 shares in BlackRock Floating Rate Income Trust (NYSE:BGT) may seem modest, it aligns with several key characteristics of the fund. According to InvestingPro data, BGT boasts a substantial dividend yield of 11.04%, underscoring its appeal to income-focused investors. This high yield is supported by an InvestingPro Tip noting that BGT “pays a significant dividend to shareholders” and has impressively “maintained dividend payments for 21 consecutive years.”

The fund’s stability is further emphasized by another InvestingPro Tip, which indicates that the stock “generally trades with low price volatility.” This characteristic may be attractive to risk-averse investors seeking steady returns. Additionally, BGT’s P/E ratio of 9.64 suggests a potentially undervalued position relative to its earnings.

BGT’s financial health appears robust, with the fund being “profitable over the last twelve months” as per InvestingPro Tips. The fund’s revenue growth of 13.32% over the last twelve months also points to positive performance trends.

For investors considering BGT, it’s worth noting that InvestingPro offers 6 additional tips that could provide further insights into the fund’s investment potential. These additional tips, available through the InvestingPro product, could offer a more comprehensive view of BGT’s financial position and market prospects.

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