Blackrock 2037 Municipal Target Term Trust (NYSE:BMN – Get Free Report) 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
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.
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