Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Stock Price Up 0.2% – Still a Buy?

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB)’s share price rose 0.2% during mid-day trading on Friday . The company traded as high as $12.46 and last traded at $12.38. Approximately 198,803 shares traded hands during trading, an increase of 17% from the average daily volume of 169,596 shares. The stock had previously closed at $12.35.

Blackstone Strategic Credit 2027 Term Fund Stock Performance

The firm’s 50-day simple moving average is $12.34 and its 200 day simple moving average is $12.10.

Blackstone Strategic Credit 2027 Term Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 21st will be issued a dividend of $0.093 per share. This represents a $1.12 annualized dividend and a dividend yield of 9.01%. The ex-dividend date is Thursday, November 21st.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BGB. Pathstone Holdings LLC raised its stake in shares of Blackstone Strategic Credit 2027 Term Fund by 15.3% during the third quarter. Pathstone Holdings LLC now owns 1,891,571 shares of the company’s stock valued at $23,305,000 after acquiring an additional 251,419 shares during the last quarter. Advisors Asset Management Inc. raised its position in Blackstone Strategic Credit 2027 Term Fund by 62.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 448,817 shares of the company’s stock worth $5,529,000 after purchasing an additional 171,790 shares during the last quarter. Shaker Financial Services LLC acquired a new position in Blackstone Strategic Credit 2027 Term Fund during the 3rd quarter worth about $1,096,000. Cetera Advisors LLC bought a new stake in shares of Blackstone Strategic Credit 2027 Term Fund in the 1st quarter valued at about $987,000. Finally, Transcend Capital Advisors LLC increased its stake in shares of Blackstone Strategic Credit 2027 Term Fund by 16.0% in the second quarter. Transcend Capital Advisors LLC now owns 449,567 shares of the company’s stock valued at $5,345,000 after buying an additional 62,098 shares during the period.

About Blackstone Strategic Credit 2027 Term Fund

Blackstone Strategic Credit 2027 Term Fund is a close ended fixed income mutual fund launched and managed by GSO / Blackstone Debt Funds Management LLC. It invests in the fixed income markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in the loans and other fixed income instruments including first- and second-lien secured loans and high-yield corporate bonds of different maturities.