Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) Short Interest Up 5.7% in March

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 11,200 shares, an increase of 5.7% from the March 15th total of 10,600 shares. Based on an average daily volume of 23,600 shares, the short-interest ratio is presently 0.5 days.

Blackrock 2037 Municipal Target Term Trust Price Performance

NYSE BMN traded up $0.01 during trading on Wednesday, hitting $23.83. 13,284 shares of the stock traded hands, compared to its average volume of 23,090. Blackrock 2037 Municipal Target Term Trust has a 12-month low of $21.51 and a 12-month high of $25.59. The company has a 50-day moving average of $24.01.

Blackrock 2037 Municipal Target Term Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be paid a $0.094 dividend. This represents a $1.13 annualized dividend and a yield of 4.73%. The ex-dividend date of this dividend is Friday, April 12th.

Insiders Place Their Bets

In other Blackrock 2037 Municipal Target Term Trust news, Portfolio Manager Christian Romaglino acquired 1,350 shares of Blackrock 2037 Municipal Target Term Trust stock in a transaction that occurred on Friday, January 26th. The stock was bought at an average cost of $23.92 per share, for a total transaction of $32,292.00. Following the acquisition, the portfolio manager now owns 1,350 shares of the company’s stock, valued at $32,292. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BMN. Retirement Planning Group LLC purchased a new position in Blackrock 2037 Municipal Target Term Trust in the 1st quarter worth about $1,770,000. Nomura Holdings Inc. bought a new position in Blackrock 2037 Municipal Target Term Trust in the 4th quarter worth about $214,000. Citadel Advisors LLC purchased a new position in shares of Blackrock 2037 Municipal Target Term Trust during the fourth quarter worth approximately $454,000. Finally, Royal Bank of Canada raised its stake in shares of Blackrock 2037 Municipal Target Term Trust by 30.1% during the fourth quarter. Royal Bank of Canada now owns 21,600 shares of the company’s stock valued at $514,000 after acquiring an additional 5,000 shares in the last quarter.

About Blackrock 2037 Municipal Target Term Trust

Blackrock 2037 Municipal Target Term Trust is an close-ended fixed income mutual fund launched by Blackrock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in fixed income markets. The fund primarily invests in n investment grade municipal securities that are rated BBB- or above by S&P and Fitch or Baa3 or above by Moody's.