BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) Sees Large Decline in Short Interest

BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) was the recipient of a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 700 shares, a decrease of 92.9% from the December 31st total of 9,800 shares. Based on an average trading volume of 69,700 shares, the days-to-cover ratio is currently 0.0 days.

BlackRock Investment Quality Municipal Trust Trading Up 0.7 %

Shares of NYSE BKN traded up $0.08 during trading on Tuesday, reaching $11.45. The company had a trading volume of 143,504 shares, compared to its average volume of 72,159. The business’s 50 day moving average price is $11.59 and its 200-day moving average price is $12.16. BlackRock Investment Quality Municipal Trust has a 52 week low of $11.01 and a 52 week high of $13.16.

BlackRock Investment Quality Municipal Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be paid a $0.057 dividend. This represents a $0.68 annualized dividend and a dividend yield of 5.97%. The ex-dividend date is Wednesday, January 15th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BKN. Koshinski Asset Management Inc. lifted its holdings in shares of BlackRock Investment Quality Municipal Trust by 30.4% during the fourth quarter. Koshinski Asset Management Inc. now owns 38,023 shares of the company’s stock worth $424,000 after buying an additional 8,859 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of BlackRock Investment Quality Municipal Trust by 10.3% during the 3rd quarter. Van ECK Associates Corp now owns 98,854 shares of the company’s stock valued at $1,260,000 after purchasing an additional 9,221 shares during the last quarter. Virtu Financial LLC acquired a new position in BlackRock Investment Quality Municipal Trust in the 3rd quarter worth about $147,000. Finally, Primoris Wealth Advisors LLC boosted its position in BlackRock Investment Quality Municipal Trust by 78.9% during the 3rd quarter. Primoris Wealth Advisors LLC now owns 97,500 shares of the company’s stock worth $1,260,000 after buying an additional 43,000 shares during the period. 26.67% of the stock is currently owned by institutional investors.

About BlackRock Investment Quality Municipal Trust

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.