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BlackRock Floating Rate Income Trust
BGT

70 hedge funds and large institutions have $68.1M invested in BlackRock Floating Rate Income Trust in 2020 Q1 according to their latest regulatory filings, with 13 funds opening new positions, 21 increasing their positions, 24 reducing their positions, and 14 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more funds holding in top 10

Funds holding in top 10: 1 → 2 (+1)

7% less first-time investments, than exits

New positions opened: 13 | Existing positions closed: 14

4.23% less ownership

Funds ownership: 34.14% → 29.91% (-4.2%)

5% less funds holding

Funds holding: 74 → 70 (-4)

13% less repeat investments, than reductions

Existing positions increased: 21 | Existing positions reduced: 24

33% less capital invested

Capital invested by funds: $102M → $68.1M (-$33.9M)

Holders
70
Holders Change
-4
Holders Change %
-5.41%
% of All Funds
1.54%
Holding in Top 10
2
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+100%
% of All Funds
0.04%
New
13
Increased
21
Reduced
24
Closed
14
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
SCM
Saba Capital Management
New York
+$1.97M
2
JCG
JHL Capital Group
Illinois
+$480K
3
Invesco
Invesco
Georgia
+$398K
4
PPA
Parametric Portfolio Associates
Washington
+$386K
5
MC
Moors & Cabot
Massachusetts
+$372K

Top Sellers

Rank Fund Capital Flow
1
Morgan Stanley
Morgan Stanley
New York
-$4.23M
2
RCM
Rivernorth Capital Management
Florida
-$1.75M
3
MIG
Mariner Investment Group
New York
-$1.26M
4
QGA
Q Global Advisors
Texas
-$1.11M
5
Stifel Financial
Stifel Financial
Missouri
-$1.09M
Name Holding Trade Value Shares
Change 		Change in
Stake
SCM
1
Saba Capital Management
New York
$8.63M +$1.97M +164,465 +23%
1CP
2
1607 Capital Partners
Virginia
$7.94M -$509K -42,494 -5%
Baillie Gifford & Co
3
Baillie Gifford & Co
United Kingdom
$7.69M -$42.4K -3,540 -0.4%
Invesco
4
Invesco
Georgia
$4.96M +$398K +33,163 +7%
GC
5
Guggenheim Capital
Illinois
$4.22M +$125K +10,438 +2%
AAM
6
Advisors Asset Management
Colorado
$3.05M -$494K -41,197 -12%
CBA
7
Coastal Bridge Advisors
Connecticut
$2.77M -$13.7K -1,140 -0.4%
Morgan Stanley
8
Morgan Stanley
New York
$2.54M -$4.23M -352,605 -58%
Bank of America
9
Bank of America
North Carolina
$2.42M -$206K -17,170 -6%
UBS Group
10
UBS Group
Switzerland
$2.3M +$36.1K +3,014 +1%
RVPG
11
Relative Value Partners Group
$1.77M -$469K -39,142 -18%
VEA
12
Virtus ETF Advisers
New York
$1.55M -$735K -61,292 -28%
Royal Bank of Canada
13
Royal Bank of Canada
Ontario, Canada
$1.48M -$117K -9,741 -6%
Wells Fargo
14
Wells Fargo
California
$1.48M -$6.4K -534 -0.4%
Baird Financial Group
15
Baird Financial Group
Wisconsin
$1.45M +$270K +22,544 +18%
RCM
16
Rivernorth Capital Management
Florida
$1.29M -$1.75M -145,805 -52%
PMG
17
ProVise Management Group
Florida
$871K -$52.1K -4,350 -5%
Ameriprise
18
Ameriprise
Minnesota
$850K +$112K +9,303 +12%
LPL Financial
19
LPL Financial
California
$716K -$33.5K -2,795 -4%
MML Investors Services
20
MML Investors Services
Massachusetts
$685K +$32.4K +2,706 +4%
PA
21
Pinnacle Associates
New York
$546K +$96K +8,005 +17%
Envestnet Asset Management
22
Envestnet Asset Management
Illinois
$542K +$118K +9,859 +22%
CA
23
Cornerstone Advisory
Maryland
$520K +$36K +3,000 +6%
FWIA
24
Fort Washington Investment Advisors
Ohio
$421K – – –
PAS
25
Park Avenue Securities
New York
$416K +$127K +10,597 +33%
1
2 3 4

BGT Hedge Fund Activity: Q1 2020 in Review

70 of the 4,539 institutional investors tracked by Wall St. Rank reported a position in BlackRock Floating Rate Income Trust (BGT) for Q1 2020, worth a combined $68.1M — down 33% from $102M a quarter earlier.

Sellers outnumbered buyers: 14 funds closed out of BGT and 13 opened new positions — a net loss of 1 holder — while 24 trimmed existing stakes and 21 added.

The largest buyer was Saba Capital Management, adding an estimated $1.97M. The largest seller was Morgan Stanley, cutting an estimated $4.23M.

  • 70 institutional investors held BlackRock Floating Rate Income Trust (BGT) as of Q1 2020, down from 74 in Q4 2019.
  • Funds reported $68.1M of BlackRock Floating Rate Income Trust stock for Q1 2020, down 33% quarter-over-quarter.
  • 13 funds opened new BlackRock Floating Rate Income Trust positions in Q1 2020 and 14 closed out, a net change of -1 holder.
  • The largest BlackRock Floating Rate Income Trust buyer in Q1 2020 was Saba Capital Management, an estimated $1.97M added.
  • The largest BlackRock Floating Rate Income Trust seller in Q1 2020 was Morgan Stanley, an estimated $4.23M sold.

Based on aggregated 13F filings for Q1 2020.