BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) Sees Significant Growth in Short Interest

BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 19,700 shares, a growth of 44.9% from the February 13th total of 13,600 shares. Based on an average daily trading volume, of 42,900 shares, the days-to-cover ratio is currently 0.5 days.

BlackRock Long-Term Municipal Advantage Trust Trading Down 0.6 %

Shares of BTA stock opened at $9.74 on Friday. The firm’s 50-day simple moving average is $9.87 and its 200-day simple moving average is $10.24. BlackRock Long-Term Municipal Advantage Trust has a 1-year low of $9.48 and a 1-year high of $11.10.

BlackRock Long-Term Municipal Advantage Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.0495 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.59 annualized dividend and a dividend yield of 6.10%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Landscape Capital Management L.L.C. acquired a new stake in BlackRock Long-Term Municipal Advantage Trust during the third quarter worth about $120,000. Concorde Asset Management LLC raised its holdings in BlackRock Long-Term Municipal Advantage Trust by 12.4% in the third quarter. Concorde Asset Management LLC now owns 12,577 shares of the financial services provider’s stock valued at $135,000 after buying an additional 1,392 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in BlackRock Long-Term Municipal Advantage Trust during the fourth quarter valued at approximately $1,432,000. Stratos Investment Management LLC purchased a new stake in BlackRock Long-Term Municipal Advantage Trust during the fourth quarter worth approximately $163,000. Finally, Van ECK Associates Corp increased its position in shares of BlackRock Long-Term Municipal Advantage Trust by 2.8% in the fourth quarter. Van ECK Associates Corp now owns 68,884 shares of the financial services provider’s stock worth $672,000 after acquiring an additional 1,845 shares in the last quarter.

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.