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 significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 28,000 shares, a growth of 30.2% from the October 15th total of 21,500 shares. Based on an average daily trading volume, of 28,600 shares, the short-interest ratio is presently 1.0 days.

BlackRock Long-Term Municipal Advantage Trust Stock Performance

Shares of NYSE BTA opened at $10.51 on Friday. The company’s 50 day simple moving average is $10.54 and its 200 day simple moving average is $10.34. BlackRock Long-Term Municipal Advantage Trust has a fifty-two week low of $9.12 and a fifty-two week high of $10.97.

BlackRock Long-Term Municipal Advantage Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be issued a $0.0495 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.59 annualized dividend and a yield of 5.65%.

Institutional Investors Weigh In On BlackRock Long-Term Municipal Advantage Trust

Several hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp raised its holdings in BlackRock Long-Term Municipal Advantage Trust by 9.5% in the second quarter. Van ECK Associates Corp now owns 67,732 shares of the financial services provider’s stock worth $686,000 after purchasing an additional 5,892 shares during the period. Capital Investment Advisors LLC raised its holdings in BlackRock Long-Term Municipal Advantage Trust by 7.5% in the second quarter. Capital Investment Advisors LLC now owns 43,025 shares of the financial services provider’s stock worth $436,000 after purchasing an additional 3,000 shares during the period. Tyche Wealth Partners LLC raised its holdings in BlackRock Long-Term Municipal Advantage Trust by 3.5% in the second quarter. Tyche Wealth Partners LLC now owns 41,299 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 1,395 shares during the period. Wolverine Asset Management LLC raised its holdings in BlackRock Long-Term Municipal Advantage Trust by 145.7% in the third quarter. Wolverine Asset Management LLC now owns 34,566 shares of the financial services provider’s stock worth $371,000 after purchasing an additional 20,499 shares during the period. Finally, HBK Sorce Advisory LLC raised its holdings in BlackRock Long-Term Municipal Advantage Trust by 8.1% in the second quarter. HBK Sorce Advisory LLC now owns 26,375 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 1,980 shares during the period.

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.