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BGT: Even Rate Hikes Won't Make This Fund's Distribution Sustainable
The BlackRock Floating Rate Income Trust offers a 13.36% yield but is not earning enough to cover its distribution. BGT's portfolio is heavily weighted toward speculative-grade senior loans, exposing it to higher default risk and potential volatility. Despite benefiting from rising rates, recent rate cuts have reduced BGT's income, and even expected hikes may not restore prior income levels.
Seekingalpha | 2 months ago
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