BlackRock Core Bond Trust (NYSE:BHK) Stock Price Breaks Below Fifty Day Moving Average – Here’s What Happened

BlackRock Core Bond Trust (NYSE:BHK)’s stock price passed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $8.46 and traded as low as $8.39. BlackRock Core Bond Trust shares last traded at $8.4550, with a volume of 201,034 shares trading hands.

BlackRock Core Bond Trust Price Performance

The firm has a 50 day moving average of $8.43 and a 200-day moving average of $8.98.

BlackRock Core Bond Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be issued a $0.0746 dividend. The ex-dividend date is Friday, December 11th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 10.8%.

Institutional Trading of BlackRock Core Bond Trust

Hedge funds have recently made changes to their positions in the stock. Axiom Investment Management LLC acquired a new position in shares of BlackRock Core Bond Trust in the first quarter worth $35,000. Integrated Wealth Concepts LLC purchased a new stake in shares of BlackRock Core Bond Trust during the second quarter worth $46,000. PNC Financial Services Group Inc. raised its holdings in shares of BlackRock Core Bond Trust by 120.6% during the first quarter. PNC Financial Services Group Inc. now owns 5,488 shares of the investment management company’s stock worth $50,000 after acquiring an additional 3,000 shares in the last quarter. First Bank & Trust purchased a new stake in shares of BlackRock Core Bond Trust during the third quarter worth $89,000. Finally, International Assets Investment Management LLC acquired a new stake in BlackRock Core Bond Trust during the first quarter valued at $116,000.

About BlackRock Core Bond Trust

BlackRock Core Bond Trust is a closed-end investment company traded on the New York Stock Exchange under the symbol BHK. The fund is managed by BlackRock Advisors and is designed to provide investors with access to a professionally managed portfolio of fixed-income investments. The trust’s primary investment objective is to seek current income, with capital appreciation as a secondary objective. Its portfolio generally consists of bonds and other debt securities, including securities issued or guaranteed by the U.S. government and its agencies, corporate bonds, mortgage-backed securities, and other fixed-income instruments.