Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Sees Significant Increase in Short Interest

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 53,800 shares, a growth of 587.8% from the August 31st total of 7,822 shares. Based on an average daily trading volume, of 173,212 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On Blackstone Strategic Credit 2027 Term Fund

Several hedge funds have recently added to or reduced their stakes in BGB. Sit Investment Associates Inc. lifted its position in shares of Blackstone Strategic Credit 2027 Term Fund by 141.9% during the 4th quarter. Sit Investment Associates Inc. now owns 2,025,340 shares of the company’s stock worth $23,859,000 after buying an additional 1,188,021 shares during the last quarter. Bank of America Corp DE grew its position in shares of Blackstone Strategic Credit 2027 Term Fund by 2.2% in the 1st quarter. Bank of America Corp DE now owns 1,973,911 shares of the company’s stock valued at $22,009,000 after buying an additional 42,416 shares during the last quarter. Elevation Point Wealth Partners LLC raised its stake in Blackstone Strategic Credit 2027 Term Fund by 3.6% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 262,620 shares of the company’s stock worth $2,928,000 after acquiring an additional 9,219 shares in the last quarter. Robbins Farley raised its stake in Blackstone Strategic Credit 2027 Term Fund by 13.2% during the 2nd quarter. Robbins Farley now owns 241,957 shares of the company’s stock worth $2,734,000 after acquiring an additional 28,279 shares in the last quarter. Finally, Lalia Capital LLC purchased a new stake in Blackstone Strategic Credit 2027 Term Fund in the fourth quarter valued at $1,753,000.

Blackstone Strategic Credit 2027 Term Fund Trading Up 0.4%

Shares of BGB traded up $0.04 during mid-day trading on Friday, reaching $11.11. The company’s stock had a trading volume of 109,258 shares, compared to its average volume of 144,699. Blackstone Strategic Credit 2027 Term Fund has a 12-month low of $10.85 and a 12-month high of $12.24. The company’s 50 day moving average is $11.23 and its 200 day moving average is $11.27.

Blackstone Strategic Credit 2027 Term Fund Announces Dividend

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

Blackstone Strategic Credit 2027 Term Fund Company Profile

Blackstone Strategic Credit 2027 Term Fund (NYSE: BGB) is a closed-end investment company that seeks to provide investors with current income and, to a lesser extent, capital appreciation. The fund is managed by Blackstone Alternative Credit Advisors LP, an affiliate of Blackstone Inc

The fund invests primarily in senior secured loans and other floating-rate debt obligations issued by U.S. and non-U.S. companies. Its portfolio may include investments in below-investment-grade or unrated credit securities, which can offer higher income but carry increased credit and investment risk.