Short Interest in BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) Declines By 16.4%

BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) saw a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 277,700 shares, a drop of 16.4% from the February 13th total of 332,100 shares. Based on an average daily volume of 491,900 shares, the days-to-cover ratio is presently 0.6 days.

BlackRock Enhanced Equity Dividend Trust Price Performance

Shares of NYSE BDJ traded down $0.01 during trading hours on Tuesday, hitting $8.64. 228,586 shares of the company’s stock were exchanged, compared to its average volume of 472,081. The company’s 50-day moving average price is $8.73 and its 200-day moving average price is $8.67. BlackRock Enhanced Equity Dividend Trust has a 1-year low of $7.80 and a 1-year high of $9.07.

BlackRock Enhanced Equity Dividend Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.0619 per share. The ex-dividend date is Friday, March 14th. This is a positive change from BlackRock Enhanced Equity Dividend Trust’s previous monthly dividend of $0.05. This represents a $0.74 dividend on an annualized basis and a dividend yield of 8.60%.

Hedge Funds Weigh In On BlackRock Enhanced Equity Dividend Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC grew its position in BlackRock Enhanced Equity Dividend Trust by 57.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 264,337 shares of the investment management company’s stock worth $2,189,000 after purchasing an additional 96,332 shares during the last quarter. HighTower Advisors LLC grew its position in BlackRock Enhanced Equity Dividend Trust by 25.7% during the third quarter. HighTower Advisors LLC now owns 37,402 shares of the investment management company’s stock worth $323,000 after buying an additional 7,638 shares in the last quarter. JPMorgan Chase & Co. grew its position in BlackRock Enhanced Equity Dividend Trust by 1,203.3% during the third quarter. JPMorgan Chase & Co. now owns 5,539 shares of the investment management company’s stock worth $48,000 after buying an additional 5,114 shares in the last quarter. Park Avenue Securities LLC increased its stake in BlackRock Enhanced Equity Dividend Trust by 79.9% during the fourth quarter. Park Avenue Securities LLC now owns 26,070 shares of the investment management company’s stock valued at $216,000 after acquiring an additional 11,575 shares during the period. Finally, Sunbelt Securities Inc. raised its holdings in BlackRock Enhanced Equity Dividend Trust by 7.3% in the 3rd quarter. Sunbelt Securities Inc. now owns 21,134 shares of the investment management company’s stock valued at $183,000 after acquiring an additional 1,440 shares in the last quarter.

About BlackRock Enhanced Equity Dividend Trust

BlackRock Enhanced Equity Dividend Trust is a closed-ended equity mutual fund launched by BlackRock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in dividend paying stocks of companies across all market capitalizations.