Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) Sees Significant Growth in Short Interest

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) was the target of a large growth in short interest in October. As of October 30th, there was short interest totaling 8,248 shares, a growth of 461.9% from the October 15th total of 1,468 shares. Based on an average trading volume of 49,616 shares, the short-interest ratio is currently 0.2 days.

Blackrock 2037 Municipal Target Term Trust Trading Down 1.5%

Shares of Blackrock 2037 Municipal Target Term Trust stock traded down $0.34 during midday trading on Thursday, hitting $23.23. 21,849 shares of the company traded hands, compared to its average volume of 15,305. The firm’s fifty day moving average price is $23.12 and its 200-day moving average price is $25.27. Blackrock 2037 Municipal Target Term Trust has a 12 month low of $21.28 and a 12 month high of $27.96.

Blackrock 2037 Municipal Target Term Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 13th will be issued a dividend of $0.0993 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.19 annualized dividend and a dividend yield of 5.1%.

Insider Buying and Selling at Blackrock 2037 Municipal Target Term Trust

In other Blackrock 2037 Municipal Target Term Trust news, major shareholder Of America Corp /De/ Bank bought 3,070 shares of the stock in a transaction on Tuesday, October 27th. The stock was purchased at an average price of $22.98 per share, with a total value of $70,548.60. Following the completion of the purchase, the insider owned 3,070 shares in the company, valued at $70,548.60. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Institutional Investors Weigh In On Blackrock 2037 Municipal Target Term Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of BMN. Narwhal Capital Management acquired a new position in shares of Blackrock 2037 Municipal Target Term Trust during the third quarter worth $336,000. Apollon Wealth Management LLC acquired a new stake in Blackrock 2037 Municipal Target Term Trust in the third quarter valued at $573,000. Van ECK Associates Corp increased its holdings in Blackrock 2037 Municipal Target Term Trust by 6.3% in the second quarter. Van ECK Associates Corp now owns 36,239 shares of the company’s stock valued at $931,000 after purchasing an additional 2,154 shares during the period. Bank of America Corp DE bought a new stake in Blackrock 2037 Municipal Target Term Trust in the second quarter valued at approximately $2,962,000. Finally, BlackRock Inc. acquired a new stake in shares of Blackrock 2037 Municipal Target Term Trust during the second quarter worth $103,000.

Blackrock 2037 Municipal Target Term Trust Company Profile

BlackRock 2037 Municipal Target Term Trust (NYSE: BMN) is a closed-end management investment company advised by BlackRock Advisors, LLC. It seeks to provide current income that is exempt from regular U.S. federal income tax, consistent with its investment objectives and policies. The trust invests primarily in municipal bonds issued by U.S. states and local governments and their agencies. These bonds help fund public projects and services, and their interest may receive favorable federal tax treatment.