Short Interest in Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Drops By 58.0%

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) was the recipient of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 116,000 shares, a decrease of 58.0% from the February 28th total of 276,100 shares. Based on an average trading volume of 200,100 shares, the days-to-cover ratio is currently 0.6 days.

Blackstone Strategic Credit 2027 Term Fund Stock Performance

Shares of BGB stock remained flat at $12.03 during trading hours on Friday. 131,264 shares of the stock traded hands, compared to its average volume of 180,638. The firm has a 50 day moving average price of $12.32 and a 200 day moving average price of $12.35. Blackstone Strategic Credit 2027 Term Fund has a 12-month low of $11.58 and a 12-month high of $12.69.

Blackstone Strategic Credit 2027 Term Fund Announces Dividend

The business also recently announced a dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 25th will be given a dividend of $0.089 per share. This represents a yield of 8.83%. The ex-dividend date of this dividend is Monday, March 24th.

Institutional Investors Weigh In On Blackstone Strategic Credit 2027 Term Fund

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE raised its position in shares of Blackstone Strategic Credit 2027 Term Fund by 104.7% during the fourth quarter. Bank of America Corp DE now owns 2,336,627 shares of the company’s stock worth $28,577,000 after acquiring an additional 1,195,382 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in Blackstone Strategic Credit 2027 Term Fund by 64.7% during the 4th quarter. Advisors Asset Management Inc. now owns 739,054 shares of the company’s stock worth $9,039,000 after purchasing an additional 290,237 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Blackstone Strategic Credit 2027 Term Fund in the 4th quarter worth approximately $3,391,000. Cary Street Partners Financial LLC bought a new stake in shares of Blackstone Strategic Credit 2027 Term Fund in the 4th quarter valued at $1,057,000. Finally, HighTower Advisors LLC boosted its stake in shares of Blackstone Strategic Credit 2027 Term Fund by 9.5% in the 3rd quarter. HighTower Advisors LLC now owns 856,327 shares of the company’s stock valued at $10,545,000 after purchasing an additional 74,478 shares during the last quarter.

Blackstone Strategic Credit 2027 Term Fund Company Profile

Blackstone Strategic Credit 2027 Term Fund is a close ended fixed income mutual fund launched and managed by GSO / Blackstone Debt Funds Management LLC. It invests in the fixed income markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in the loans and other fixed income instruments including first- and second-lien secured loans and high-yield corporate bonds of different maturities.