BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) Sees Significant Growth in Short Interest

BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 39,800 shares, an increase of 16.0% from the March 15th total of 34,300 shares. Based on an average trading volume of 24,500 shares, the days-to-cover ratio is presently 1.6 days.

BlackRock Long-Term Municipal Advantage Trust Price Performance

NYSE BTA traded up $0.01 on Tuesday, hitting $9.68. 31,359 shares of the company were exchanged, compared to its average volume of 23,907. BlackRock Long-Term Municipal Advantage Trust has a twelve month low of $8.59 and a twelve month high of $10.62. The company’s 50 day moving average price is $10.10 and its 200-day moving average price is $9.83.

BlackRock Long-Term Municipal Advantage Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be given a dividend of $0.043 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.52 dividend on an annualized basis and a yield of 5.33%.

Hedge Funds Weigh In On BlackRock Long-Term Municipal Advantage Trust

Several institutional investors and hedge funds have recently bought and sold shares of BTA. Advisors Asset Management Inc. boosted its holdings in shares of BlackRock Long-Term Municipal Advantage Trust by 400.9% during the first quarter. Advisors Asset Management Inc. now owns 137,049 shares of the financial services provider’s stock worth $1,606,000 after purchasing an additional 109,687 shares during the period. Stratos Wealth Advisors LLC acquired a new stake in shares of BlackRock Long-Term Municipal Advantage Trust during the 3rd quarter valued at $694,000. Royal Bank of Canada grew its holdings in shares of BlackRock Long-Term Municipal Advantage Trust by 389.3% during the 3rd quarter. Royal Bank of Canada now owns 63,130 shares of the financial services provider’s stock valued at $566,000 after acquiring an additional 50,227 shares in the last quarter. Morgan Stanley increased its stake in shares of BlackRock Long-Term Municipal Advantage Trust by 39.5% in the fourth quarter. Morgan Stanley now owns 170,303 shares of the financial services provider’s stock worth $1,601,000 after acquiring an additional 48,232 shares during the last quarter. Finally, Tyche Wealth Partners LLC acquired a new position in shares of BlackRock Long-Term Municipal Advantage Trust in the fourth quarter worth $408,000.

About BlackRock Long-Term Municipal Advantage Trust

BlackRock Long-Term Municipal Advantage Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets of the United States. It uses financial derivatives to invest in municipal obligations. The fund primarily invests in long-term municipal bonds with a maturity of more than ten years at the time of investment.