BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) Sees Large Decrease in Short Interest

BlackRock Enhanced Equity Dividend Trust (NYSE:BDJGet Free Report) was the target of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 25,036 shares, a decline of 58.0% from the May 14th total of 59,607 shares. Based on an average daily trading volume, of 518,402 shares, the days-to-cover ratio is presently 0.0 days.

BlackRock Enhanced Equity Dividend Trust Stock Performance

Shares of BlackRock Enhanced Equity Dividend Trust stock traded up $0.05 during trading on Friday, reaching $9.35. The company’s stock had a trading volume of 531,549 shares, compared to its average volume of 468,855. The stock has a 50-day moving average price of $9.12 and a two-hundred day moving average price of $9.24. BlackRock Enhanced Equity Dividend Trust has a one year low of $8.42 and a one year high of $9.76.

BlackRock Enhanced Equity Dividend Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.0619 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BDJ. Franklin Resources Inc. raised its holdings in shares of BlackRock Enhanced Equity Dividend Trust by 11.4% in the second quarter. Franklin Resources Inc. now owns 12,493 shares of the investment management company’s stock valued at $111,000 after buying an additional 1,281 shares during the last quarter. Invesco Ltd. raised its holdings in shares of BlackRock Enhanced Equity Dividend Trust by 5.6% in the second quarter. Invesco Ltd. now owns 2,312,750 shares of the investment management company’s stock valued at $20,560,000 after buying an additional 122,923 shares during the last quarter. Walleye Capital LLC bought a new position in shares of BlackRock Enhanced Equity Dividend Trust in the second quarter valued at about $226,000. Cerity Partners LLC bought a new position in shares of BlackRock Enhanced Equity Dividend Trust in the second quarter valued at about $3,451,000. Finally, NewEdge Advisors LLC raised its holdings in shares of BlackRock Enhanced Equity Dividend Trust by 11.3% in the second quarter. NewEdge Advisors LLC now owns 44,694 shares of the investment management company’s stock valued at $397,000 after buying an additional 4,538 shares during the last quarter.

About BlackRock Enhanced Equity Dividend Trust

(Get Free Report)

BlackRock Enhanced Equity Dividend Trust (NYSE: BDJ) is a closed-end management investment company that seeks to provide current income and capital appreciation by investing primarily in dividend-paying equity securities. The trust pursues an enhanced dividend strategy, focusing on U.S. large-capitalization common stocks with a history of dividend payments. To augment income generation, BDJ may also employ an option overlay strategy, writing covered call options on select securities or indices.

Since commencing operations in 2006, BDJ has been advised by BlackRock Fund Advisors, one of the world’s largest asset managers.

Further Reading

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