Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Stock Price Breaks Above Fifty Day Moving Average – Here’s What Happened

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $11.12 and traded as high as $11.18. Blackstone Strategic Credit 2027 Term Fund shares last traded at $11.1440, with a volume of 166,313 shares traded.

Blackstone Strategic Credit 2027 Term Fund Trading Up 1.2%

The business has a 50-day moving average price of $11.12 and a 200-day moving average price of $11.29.

Blackstone Strategic Credit 2027 Term Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be given a $0.0740 dividend. The ex-dividend date is Friday, November 20th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 8.0%.

Hedge Funds Weigh In On Blackstone Strategic Credit 2027 Term Fund

A number of institutional investors have recently bought and sold shares of BGB. Fifth Third Bancorp boosted its stake in Blackstone Strategic Credit 2027 Term Fund by 8.7% in the 3rd quarter. Fifth Third Bancorp now owns 12,241 shares of the company’s stock worth $138,000 after purchasing an additional 984 shares during the period. Jacobi Capital Management LLC purchased a new position in Blackstone Strategic Credit 2027 Term Fund during the 3rd quarter worth approximately $33,000. Beverly Hills Private Wealth LLC acquired a new stake in Blackstone Strategic Credit 2027 Term Fund during the 3rd quarter valued at $1,015,000. Chicago Partners Investment Group LLC acquired a new stake in Blackstone Strategic Credit 2027 Term Fund during the 3rd quarter valued at $127,000. Finally, City of London Investment Management Co. Ltd. raised its stake in Blackstone Strategic Credit 2027 Term Fund by 908.0% during the 3rd quarter. City of London Investment Management Co. Ltd. now owns 179,217 shares of the company’s stock valued at $2,014,000 after purchasing an additional 161,438 shares during the period.

About Blackstone Strategic Credit 2027 Term Fund

Blackstone Strategic Credit 2027 Term Fund (NYSE: BGB) is a publicly traded, closed-end investment fund managed by an affiliate of Blackstone. The fund seeks to provide current income and total return by investing primarily in credit-related assets, including senior secured loans, other corporate loans, below-investment-grade bonds and structured credit investments.

The fund may invest across a range of industries and geographies, with an emphasis on the United States and other developed credit markets.