Petra Financial Advisors Inc. Invests $1.15 Million in BlackRock Taxable Municipal Bond Trust $BBN

Petra Financial Advisors Inc. bought a new stake in shares of BlackRock Taxable Municipal Bond Trust (NYSE:BBN) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 71,390 shares of the investment management company’s stock, valued at approximately $1,154,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. PNC Financial Services Group Inc. acquired a new stake in BlackRock Taxable Municipal Bond Trust during the 1st quarter worth about $39,000. Oder Investment Management LLC lifted its stake in BlackRock Taxable Municipal Bond Trust by 3.2% during the first quarter. Oder Investment Management LLC now owns 35,152 shares of the investment management company’s stock valued at $568,000 after buying an additional 1,097 shares in the last quarter. Nwam LLC acquired a new position in shares of BlackRock Taxable Municipal Bond Trust in the first quarter worth about $178,000. Fifth Third Bancorp boosted its holdings in shares of BlackRock Taxable Municipal Bond Trust by 1,019.8% in the first quarter. Fifth Third Bancorp now owns 11,198 shares of the investment management company’s stock worth $181,000 after buying an additional 10,198 shares during the period. Finally, Kestra Advisory Services LLC increased its position in shares of BlackRock Taxable Municipal Bond Trust by 33.9% in the first quarter. Kestra Advisory Services LLC now owns 19,209 shares of the investment management company’s stock worth $311,000 after acquiring an additional 4,864 shares in the last quarter.

BlackRock Taxable Municipal Bond Trust Stock Performance

BBN stock opened at $15.86 on Wednesday. BlackRock Taxable Municipal Bond Trust has a 52-week low of $15.47 and a 52-week high of $17.45. The company’s 50 day simple moving average is $15.95 and its 200-day simple moving average is $16.15.

BlackRock Taxable Municipal Bond Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.0986 per share. This represents a c) annualized dividend and a yield of 7.5%. The ex-dividend date is Tuesday, September 15th.

BlackRock Taxable Municipal Bond Trust Company Profile

The BlackRock Taxable Municipal Bond Trust (NYSE:BBN) is a closed-end management investment company that seeks to provide current income and preservation of capital through a diversified portfolio of taxable municipal debt securities. Advisement and portfolio management services are provided by BlackRock Advisors, LLC, leveraging the firm’s global credit research and trading capabilities to analyze risk and identify opportunities within the municipal bond sector.

Since its inception in 1989, BBN has invested primarily in investment-grade and non-investment-grade municipal obligations issued by U.S.