Short Interest in Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Expands By 181.1%

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) was the recipient of a significant growth in short interest in February. As of February 15th, there was short interest totalling 402,800 shares, a growth of 181.1% from the January 31st total of 143,300 shares. Based on an average trading volume of 199,400 shares, the days-to-cover ratio is presently 2.0 days.

Blackstone Strategic Credit 2027 Term Fund Stock Performance

Shares of BGB traded down $0.01 during midday trading on Friday, reaching $12.32. The stock had a trading volume of 190,497 shares, compared to its average volume of 177,531. The firm has a 50 day simple moving average of $12.37 and a 200-day simple moving average of $12.36. Blackstone Strategic Credit 2027 Term Fund has a one year low of $11.58 and a one year high of $12.69.

Blackstone Strategic Credit 2027 Term Fund Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 21st will be issued a dividend of $0.089 per share. This represents a yield of 8.67%. The ex-dividend date of this dividend is Friday, February 21st.

Hedge Funds Weigh In On Blackstone Strategic Credit 2027 Term Fund

A number of institutional investors have recently bought and sold shares of BGB. Elequin Capital LP bought a new position in shares of Blackstone Strategic Credit 2027 Term Fund during the 4th quarter worth approximately $103,000. Pathstone Holdings LLC boosted its position in Blackstone Strategic Credit 2027 Term Fund by 1.9% during the fourth quarter. Pathstone Holdings LLC now owns 1,926,617 shares of the company’s stock worth $23,570,000 after purchasing an additional 35,046 shares during the period. Citadel Advisors LLC acquired a new position in shares of Blackstone Strategic Credit 2027 Term Fund in the fourth quarter valued at $127,000. Cary Street Partners Financial LLC bought a new position in shares of Blackstone Strategic Credit 2027 Term Fund in the fourth quarter valued at about $1,057,000. Finally, Bank of America Corp DE lifted its stake in shares of Blackstone Strategic Credit 2027 Term Fund by 104.7% during the 4th quarter. Bank of America Corp DE now owns 2,336,627 shares of the company’s stock worth $28,577,000 after buying an additional 1,195,382 shares during the last quarter.

Blackstone Strategic Credit 2027 Term Fund Company Profile

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.