BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) Stock Passes Above 50-Day Moving Average – Here’s Why

Shares of BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $9.55 and traded as high as $9.55. BlackRock Long-Term Municipal Advantage Trust shares last traded at $9.5350, with a volume of 21,826 shares traded.

BlackRock Long-Term Municipal Advantage Trust Stock Performance

The stock’s 50-day moving average price is $9.55 and its 200 day moving average price is $9.22.

BlackRock Long-Term Municipal Advantage Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 14th will be given a dividend of $0.0495 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BTA. Wolverine Asset Management LLC raised its holdings in shares of BlackRock Long-Term Municipal Advantage Trust by 243.2% in the 2nd quarter. Wolverine Asset Management LLC now owns 141,213 shares of the financial services provider’s stock valued at $1,295,000 after purchasing an additional 100,064 shares in the last quarter. River Street Advisors LLC purchased a new position in BlackRock Long-Term Municipal Advantage Trust during the second quarter valued at approximately $173,000. Allworth Financial LP bought a new position in BlackRock Long-Term Municipal Advantage Trust in the second quarter worth approximately $165,000. Landscape Capital Management L.L.C. bought a new position in BlackRock Long-Term Municipal Advantage Trust in the first quarter worth approximately $110,000. Finally, Ameriprise Financial Inc. purchased a new stake in BlackRock Long-Term Municipal Advantage Trust during the second quarter worth $101,000.

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.