BlackRock Municipal Income Trust II (NYSE:BLE) Sees Significant Decline in Short Interest

BlackRock Municipal Income Trust II (NYSE:BLE) was the target of a large drop in short interest in February. As of February 28th, there was short interest totalling 39,700 shares, a drop of 43.8% from the February 13th total of 70,600 shares. Based on an average trading volume of 110,300 shares, the days-to-cover ratio is presently 0.4 days.

BlackRock Municipal Income Trust II Trading Down 1.3 %

Shares of BlackRock Municipal Income Trust II stock opened at $10.47 on Friday. BlackRock Municipal Income Trust II has a 12-month low of $10.30 and a 12-month high of $11.41. The stock’s fifty day moving average is $10.62.

BlackRock Municipal Income Trust II Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.054 dividend. This represents a $0.65 annualized dividend and a dividend yield of 6.19%. The ex-dividend date of this dividend is Friday, March 14th.

Hedge Funds Weigh In On BlackRock Municipal Income Trust II

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pathstone Holdings LLC lifted its holdings in shares of BlackRock Municipal Income Trust II by 20.8% in the third quarter. Pathstone Holdings LLC now owns 974,068 shares of the company’s stock valued at $10,968,000 after purchasing an additional 167,548 shares in the last quarter. Avior Wealth Management LLC boosted its position in BlackRock Municipal Income Trust II by 18.6% during the 3rd quarter. Avior Wealth Management LLC now owns 17,371 shares of the company’s stock worth $196,000 after acquiring an additional 2,729 shares during the period. Horizon Kinetics Asset Management LLC purchased a new position in BlackRock Municipal Income Trust II during the 3rd quarter valued at about $167,000. Paradigm Capital Management LLC NV acquired a new position in shares of BlackRock Municipal Income Trust II in the 3rd quarter valued at about $113,000. Finally, Benjamin Edwards Inc. purchased a new stake in shares of BlackRock Municipal Income Trust II in the third quarter worth approximately $124,000.

BlackRock Municipal Income Trust II Company Profile

BlackRock Municipal Income Trust II 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 primarily invests long-term and short-term investments, and money market funds. The fund primarily in investment grade municipal bonds that are exempt from regular federal income tax.