BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) Sees Significant Growth in Short Interest

BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 9,800 shares, a growth of 24.1% from the November 30th total of 7,900 shares. Based on an average trading volume of 57,300 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of BlackRock Investment Quality Municipal Trust

A number of institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp raised its position in BlackRock Investment Quality Municipal Trust by 10.3% in the third quarter. Van ECK Associates Corp now owns 98,854 shares of the company’s stock worth $1,260,000 after acquiring an additional 9,221 shares during the period. Primoris Wealth Advisors LLC lifted its stake in BlackRock Investment Quality Municipal Trust by 78.9% in the third quarter. Primoris Wealth Advisors LLC now owns 97,500 shares of the company’s stock valued at $1,260,000 after purchasing an additional 43,000 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in BlackRock Investment Quality Municipal Trust by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 65,539 shares of the company’s stock valued at $784,000 after purchasing an additional 1,411 shares during the period. Koss Olinger Consulting LLC purchased a new stake in BlackRock Investment Quality Municipal Trust in the second quarter worth $180,000. Finally, Koshinski Asset Management Inc. raised its stake in shares of BlackRock Investment Quality Municipal Trust by 63.3% in the third quarter. Koshinski Asset Management Inc. now owns 29,164 shares of the company’s stock valued at $377,000 after buying an additional 11,305 shares during the period. 26.67% of the stock is owned by hedge funds and other institutional investors.

BlackRock Investment Quality Municipal Trust Stock Up 0.7 %

BlackRock Investment Quality Municipal Trust stock traded up $0.08 during midday trading on Tuesday, hitting $11.17. 66,182 shares of the stock were exchanged, compared to its average volume of 51,478. BlackRock Investment Quality Municipal Trust has a 52-week low of $11.01 and a 52-week high of $13.16. The business’s 50-day moving average price is $12.03 and its 200-day moving average price is $12.26.

BlackRock Investment Quality Municipal Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.057 dividend. This represents a $0.68 annualized dividend and a dividend yield of 6.12%. The ex-dividend date of this dividend is Monday, December 16th.

BlackRock Investment Quality Municipal Trust Company Profile

BlackRock Investment Quality Municipal Trust Inc 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. It invests primarily in investment grade municipal bonds municipal obligations exempt from federal income taxes.