Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) Short Interest Update

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 14,400 shares, an increase of 14.3% from the June 30th total of 12,600 shares. Based on an average daily trading volume, of 17,200 shares, the days-to-cover ratio is currently 0.8 days.

Blackrock 2037 Municipal Target Term Trust Trading Up 0.7 %

Shares of NYSE:BMN traded up $0.17 on Wednesday, hitting $24.99. 652 shares of the company’s stock were exchanged, compared to its average volume of 20,288. Blackrock 2037 Municipal Target Term Trust has a 12 month low of $21.51 and a 12 month high of $25.10. The stock’s 50 day simple moving average is $24.55.

Blackrock 2037 Municipal Target Term Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be issued a $0.0938 dividend. The ex-dividend date is Monday, July 15th. This represents a $1.13 annualized dividend and a dividend yield of 4.50%.

Institutional Trading of Blackrock 2037 Municipal Target Term Trust

Several institutional investors and hedge funds have recently made changes to their positions in BMN. Nomura Holdings Inc. bought a new stake in shares of Blackrock 2037 Municipal Target Term Trust in the fourth quarter valued at about $214,000. Retirement Planning Group LLC bought a new stake in shares of Blackrock 2037 Municipal Target Term Trust in the first quarter valued at about $1,770,000. Wealth Enhancement Advisory Services LLC grew its stake in Blackrock 2037 Municipal Target Term Trust by 52.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,701 shares of the company’s stock valued at $413,000 after purchasing an additional 5,730 shares during the last quarter. Finally, Commonwealth Equity Services LLC purchased a new position in Blackrock 2037 Municipal Target Term Trust in the second quarter valued at about $493,000.

About Blackrock 2037 Municipal Target Term Trust

Blackrock 2037 Municipal Target Term Trust is an close-ended fixed income mutual fund launched by Blackrock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in fixed income markets. The fund primarily invests in n investment grade municipal securities that are rated BBB- or above by S&P and Fitch or Baa3 or above by Moody's.