BlackRock Health Sciences Trust (NYSE:BME) Stock Price Crosses Above 50 Day Moving Average – Here’s Why

BlackRock Health Sciences Trust (NYSE:BME)’s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $39.39 and traded as high as $40.77. BlackRock Health Sciences Trust shares last traded at $40.3320, with a volume of 49,467 shares changing hands.

BlackRock Health Sciences Trust Price Performance

The firm’s fifty day simple moving average is $39.48 and its 200 day simple moving average is $40.56.

BlackRock Health Sciences Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.2621 dividend. This represents a c) annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Investors Weigh In On BlackRock Health Sciences Trust

Several hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. raised its position in shares of BlackRock Health Sciences Trust by 285,436.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,046,055 shares of the company’s stock worth $166,414,000 after acquiring an additional 4,044,638 shares during the period. 1607 Capital Partners LLC raised its position in shares of BlackRock Health Sciences Trust by 49.5% in the fourth quarter. 1607 Capital Partners LLC now owns 229,260 shares of the company’s stock worth $9,429,000 after acquiring an additional 75,958 shares during the period. Invesco Ltd. raised its position in shares of BlackRock Health Sciences Trust by 7.6% in the third quarter. Invesco Ltd. now owns 217,169 shares of the company’s stock worth $8,085,000 after acquiring an additional 15,381 shares during the period. Bank of America Corp DE raised its position in shares of BlackRock Health Sciences Trust by 18.8% in the third quarter. Bank of America Corp DE now owns 216,404 shares of the company’s stock worth $8,057,000 after acquiring an additional 34,218 shares during the period. Finally, Royal Bank of Canada raised its position in shares of BlackRock Health Sciences Trust by 13.0% in the fourth quarter. Royal Bank of Canada now owns 160,464 shares of the company’s stock worth $6,600,000 after acquiring an additional 18,442 shares during the period.

About BlackRock Health Sciences Trust

BlackRock Health Sciences Trust (NYSE: BME) is a closed-end management investment company that seeks long-term total return through a combination of dividend income and capital appreciation. Managed by BlackRock Fund Advisors, the trust invests primarily in the equity securities of domestic and international issuers engaged in the health sciences sector. The portfolio typically includes common stocks, corporate bonds and convertible securities of companies involved in biotechnology, pharmaceuticals, medical devices and healthcare services.