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

BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 18,000 shares, a growth of 69.8% from the March 15th total of 10,600 shares. Based on an average daily volume of 58,100 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in BlackRock Investment Quality Municipal Trust during the fourth quarter worth $759,000. LPL Financial LLC lifted its stake in shares of BlackRock Investment Quality Municipal Trust by 19.8% in the 4th quarter. LPL Financial LLC now owns 197,540 shares of the company’s stock valued at $2,203,000 after purchasing an additional 32,651 shares during the period. Horizon Kinetics Asset Management LLC bought a new stake in shares of BlackRock Investment Quality Municipal Trust during the 4th quarter valued at about $470,000. Signaturefd LLC acquired a new stake in BlackRock Investment Quality Municipal Trust during the fourth quarter worth approximately $52,000. Finally, Wolverine Asset Management LLC acquired a new position in BlackRock Investment Quality Municipal Trust in the fourth quarter valued at approximately $406,000. Institutional investors and hedge funds own 26.67% of the company’s stock.

BlackRock Investment Quality Municipal Trust Stock Down 0.3 %

Shares of BKN opened at $10.69 on Friday. The stock’s 50-day moving average price is $11.32 and its two-hundred day moving average price is $11.73. BlackRock Investment Quality Municipal Trust has a 12 month low of $10.22 and a 12 month high of $13.16.

BlackRock Investment Quality Municipal Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.057 per share. This represents a $0.68 dividend on an annualized basis and a yield of 6.40%. The ex-dividend date of this dividend is Tuesday, April 15th.

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.