BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Short Interest Update

BlackRock Taxable Municipal Bond Trust (NYSE:BBN) was the target of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 63,600 shares, a drop of 27.7% from the February 13th total of 88,000 shares. Based on an average daily volume of 182,200 shares, the days-to-cover ratio is presently 0.3 days.

BlackRock Taxable Municipal Bond Trust Stock Performance

BBN stock traded down $0.01 during midday trading on Tuesday, reaching $16.57. 83,945 shares of the company’s stock traded hands, compared to its average volume of 221,773. The firm’s fifty day moving average price is $16.51 and its 200-day moving average price is $16.83. BlackRock Taxable Municipal Bond Trust has a 52 week low of $15.39 and a 52 week high of $18.42.

BlackRock Taxable Municipal Bond Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.0929 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.73%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC lifted its stake in BlackRock Taxable Municipal Bond Trust by 246.7% during the 3rd quarter. Larson Financial Group LLC now owns 2,080 shares of the investment management company’s stock valued at $37,000 after acquiring an additional 1,480 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of BlackRock Taxable Municipal Bond Trust by 12.9% in the fourth quarter. National Bank of Canada FI now owns 8,748 shares of the investment management company’s stock valued at $141,000 after purchasing an additional 1,000 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of BlackRock Taxable Municipal Bond Trust during the fourth quarter valued at about $173,000. Generation Capital Management LLC purchased a new position in BlackRock Taxable Municipal Bond Trust during the fourth quarter worth about $187,000. Finally, Avantax Advisory Services Inc. purchased a new position in BlackRock Taxable Municipal Bond Trust during the fourth quarter worth about $216,000.

BlackRock Taxable Municipal Bond Trust Company Profile

BlackRock Taxable Municipal Bond Trust is a closed-ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in the fixed income markets of the United States. It primarily invests in taxable municipal securities, which include Build America Bonds.