On October 29, 2024, Harris Stayce D., who serves as a director at BlackRock Floating Rate Income Trust (NYSE:BGT), made a purchase of 10 shares of common stock at $13.06 each. This transaction totaled $130 and increased their direct ownership in the trust to 10 shares. The acquisition was officially recorded in a Form 4 filing with the Securities and Exchange Commission.
InvestingPro Insights highlight that although Harris Stayce D.’s recent purchase might appear small, it is consistent with certain notable attributes of the fund. Data from InvestingPro indicates that BGT offers a substantial dividend yield of 11.04%, which is particularly attractive to those focused on income investing. One InvestingPro Tip emphasizes that BGT provides significant dividends to shareholders and has maintained consistent dividend payments for 21 years.
The stability of the fund is further highlighted by another InvestingPro Tip, suggesting that the stock generally experiences low price volatility. This feature could appeal to investors who are cautious about risk while seeking consistent returns. Furthermore, a P/E ratio of 9.64 highlights the potential undervaluation of BGT relative to its earnings.
Financially, BGT demonstrates strength, being profitable over the last twelve months according to InvestingPro Tips. The fund also reported a revenue growth of 13.32% during the same time frame, signaling positive performance trends.
Investors interested in BGT may find value in exploring six additional tips provided by InvestingPro, which could offer deeper insights into the fund’s investment potential. These insights are accessible through the InvestingPro product and can provide a broader understanding of BGT’s financial standing and market prospects.
The article was produced with AI assistance and subsequently reviewed by an editor.