BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Stock Crosses Below 200 Day Moving Average – Here’s Why

BlackRock Taxable Municipal Bond Trust (NYSE:BBN)’s share price crossed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $15.68 and traded as low as $14.47. BlackRock Taxable Municipal Bond Trust shares last traded at $14.53, with a volume of 284,907 shares traded.

BlackRock Taxable Municipal Bond Trust Stock Performance

The firm has a 50 day simple moving average of $15.04 and a 200-day simple moving average of $15.66.

BlackRock Taxable Municipal Bond Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be issued a $0.0986 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 8.0%. The ex-dividend date is Friday, December 11th.

Hedge Funds Weigh In On BlackRock Taxable Municipal Bond Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Eagle Bluffs Wealth Management LLC raised its position in BlackRock Taxable Municipal Bond Trust by 4.3% in 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 buying an additional 89,793 shares during the last quarter. Rivernorth Capital Management LLC boosted its position in BlackRock Taxable Municipal Bond Trust by 594.6% during the second 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 lifted its holdings in shares of BlackRock Taxable Municipal Bond Trust by 2.4% during the first quarter. Bank of America Corp DE now owns 1,128,853 shares of the investment management company’s stock worth $18,254,000 after buying an additional 26,778 shares in the last quarter. Focused Wealth Management Inc grew its position in shares of BlackRock Taxable Municipal Bond Trust by 4.6% during 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 in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in BlackRock Taxable Municipal Bond Trust by 2.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 132,763 shares of the investment management company’s stock valued at $2,147,000 after buying an additional 2,892 shares during the period.

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.