Short Interest in BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) Rises By 132.1%

BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 45,500 shares, a growth of 132.1% from the September 30th total of 19,600 shares. Based on an average trading volume of 51,700 shares, the days-to-cover ratio is presently 0.9 days.

Hedge Funds Weigh In On BlackRock Investment Quality Municipal Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Advisors LLC raised its stake in shares of BlackRock Investment Quality Municipal Trust by 4.9% in the 1st quarter. Cetera Advisors LLC now owns 54,551 shares of the company’s stock valued at $677,000 after buying an additional 2,562 shares in the last quarter. Simplicity Wealth LLC bought a new stake in BlackRock Investment Quality Municipal Trust in the second quarter valued at about $185,000. Bank of New York Mellon Corp raised its position in BlackRock Investment Quality Municipal Trust by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 65,539 shares of the company’s stock worth $784,000 after purchasing an additional 1,411 shares in the last quarter. Koshinski Asset Management Inc. lifted its stake in BlackRock Investment Quality Municipal Trust by 63.3% during the third quarter. Koshinski Asset Management Inc. now owns 29,164 shares of the company’s stock worth $377,000 after purchasing an additional 11,305 shares during the period. Finally, Koss Olinger Consulting LLC acquired a new stake in BlackRock Investment Quality Municipal Trust during the second quarter valued at approximately $180,000. 26.67% of the stock is currently owned by institutional investors.

BlackRock Investment Quality Municipal Trust Price Performance

BlackRock Investment Quality Municipal Trust stock traded down $0.03 during mid-day trading on Friday, reaching $12.59. The company had a trading volume of 14,656 shares, compared to its average volume of 45,157. The company has a 50 day moving average of $12.71 and a 200-day moving average of $12.27. BlackRock Investment Quality Municipal Trust has a 52 week low of $9.62 and a 52 week high of $13.16.

BlackRock Investment Quality Municipal Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be given a dividend of $0.057 per share. This represents a $0.68 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date of this dividend is Tuesday, October 15th.

BlackRock Investment Quality Municipal Trust Company Profile

BlackRock Investment Quality Municipal Trust Inc is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade municipal bonds municipal obligations exempt from federal income taxes.