BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Sees Significant Decline in Short Interest

BlackRock Taxable Municipal Bond Trust (NYSE:BBN) saw a large decrease in short interest in September. As of September 30th, there was short interest totaling 95,993 shares, a decrease of 55.6% from the September 15th total of 216,294 shares. Based on an average daily volume of 362,123 shares, the short-interest ratio is currently 0.3 days.

BlackRock Taxable Municipal Bond Trust Price Performance

NYSE:BBN traded up $0.03 during trading hours on Tuesday, reaching $14.43. The company’s stock had a trading volume of 221,019 shares, compared to its average volume of 193,452. The firm has a 50-day simple moving average of $15.26 and a 200-day simple moving average of $15.74. BlackRock Taxable Municipal Bond Trust has a 1 year low of $14.16 and a 1 year high of $17.45.

BlackRock Taxable Municipal Bond Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be given a dividend of $0.0986 per share. This represents a $1.18 annualized dividend and a yield of 8.2%. The ex-dividend date is Friday, December 11th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Eagle Bluffs Wealth Management LLC boosted its holdings in BlackRock Taxable Municipal Bond Trust by 4.3% during the 1st quarter. Eagle Bluffs Wealth Management LLC now owns 2,202,048 shares of the investment management company’s stock valued at $35,607,000 after acquiring an additional 89,793 shares during the period. Rivernorth Capital Management LLC increased its stake in BlackRock Taxable Municipal Bond Trust by 594.6% in the 2nd quarter. Rivernorth Capital Management LLC now owns 1,622,646 shares of the investment management company’s stock worth $26,238,000 after purchasing an additional 1,389,024 shares during the period. Bank of America Corp DE increased its stake in BlackRock Taxable Municipal Bond Trust by 2.4% in the 1st quarter. Bank of America Corp DE now owns 1,128,853 shares of the investment management company’s stock worth $18,254,000 after purchasing an additional 26,778 shares during the period. Focused Wealth Management Inc increased its stake in BlackRock Taxable Municipal Bond Trust by 4.6% in the 1st quarter. Focused Wealth Management Inc now owns 812,411 shares of the investment management company’s stock worth $13,137,000 after purchasing an additional 35,989 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in BlackRock Taxable Municipal Bond Trust by 2.2% in the second quarter. Envestnet Asset Management Inc. now owns 132,763 shares of the investment management company’s stock valued at $2,147,000 after purchasing an additional 2,892 shares during the last quarter.

About BlackRock Taxable Municipal Bond Trust

BlackRock Taxable Municipal Bond Trust (NYSE: BBN) is a closed-end investment fund managed by BlackRock Advisors, LLC. The fund seeks to provide current income by investing primarily in long-term municipal obligations issued by U.S. states, territories, and local governments, as well as related public entities.

Unlike traditional municipal bond funds that generally emphasize federally tax-exempt income, BBN focuses on taxable municipal securities. Its portfolio may include bonds that finance public infrastructure and essential services, such as transportation, education, utilities, health care, and housing.