BlackRock Science and Technology Term Trust (NASDAQ:BSTZ) Plans Monthly Dividend of $0.16
by Amy Steele · The Cerbat GemBlackRock Science and Technology Term Trust (NASDAQ:BSTZ – Get Free Report) announced a monthly dividend on Friday, February 27th. Stockholders of record on Wednesday, April 15th will be given a dividend of 0.1625 per share on Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 8.3%. The ex-dividend date is Wednesday, April 15th.
BlackRock Science and Technology Term Trust Stock Up 0.2%
Shares of BSTZ stock opened at $23.49 on Monday. The business’s fifty day moving average price is $22.37 and its 200 day moving average price is $22.40. BlackRock Science and Technology Term Trust has a 1-year low of $16.12 and a 1-year high of $23.68.
Insider Activity at BlackRock Science and Technology Term Trust
In related news, Portfolio Manager Tony Kim bought 41,825 shares of the firm’s stock in a transaction on Thursday, February 5th. The shares were bought at an average cost of $22.00 per share, for a total transaction of $920,150.00. Following the transaction, the portfolio manager owned 251,554 shares of the company’s stock, valued at approximately $5,534,188. This trade represents a 19.94% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
Institutional Trading of BlackRock Science and Technology Term Trust
Several hedge funds and other institutional investors have recently made changes to their positions in BSTZ. Saba Capital Management L.P. boosted its holdings in BlackRock Science and Technology Term Trust by 23.4% during the fourth quarter. Saba Capital Management L.P. now owns 4,557,491 shares of the company’s stock worth $103,045,000 after buying an additional 863,496 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of BlackRock Science and Technology Term Trust by 100.5% during the 3rd quarter. Lazard Asset Management LLC now owns 682,344 shares of the company’s stock worth $15,121,000 after buying an additional 342,054 shares during the last quarter. Bank of America Corp DE raised its stake in shares of BlackRock Science and Technology Term Trust by 16.8% during the 3rd quarter. Bank of America Corp DE now owns 959,947 shares of the company’s stock worth $21,272,000 after buying an additional 138,030 shares during the last quarter. Penserra Capital Management LLC boosted its position in shares of BlackRock Science and Technology Term Trust by 14.6% in the 3rd quarter. Penserra Capital Management LLC now owns 938,709 shares of the company’s stock worth $20,801,000 after buying an additional 119,839 shares in the last quarter. Finally, Rivernorth Capital Management LLC boosted its position in shares of BlackRock Science and Technology Term Trust by 8.7% in the 4th quarter. Rivernorth Capital Management LLC now owns 1,458,032 shares of the company’s stock worth $32,966,000 after buying an additional 116,578 shares in the last quarter.
About BlackRock Science and Technology Term Trust
BlackRock Science and Technology Term Trust (NASDAQ: BSTZ) is a closed-end management investment company that provides targeted exposure to companies engaged in the science and technology sectors. Listed on the NASDAQ stock exchange, the trust seeks to deliver total return composed of capital appreciation and monthly distributions over a defined term. It operates as a term trust, with an anticipated liquidation date in August 2028, at which point shareholders will receive proceeds based on the trust’s net asset value.
The trust’s investment strategy is centered on equity and equity-related securities of companies involved in advancing scientific research, technological innovation and related applications.