BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?
by Danessa Lincoln · The Markets DailyBlackRock Taxable Municipal Bond Trust (NYSE:BBN – Get Free Report) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.65 and traded as low as $16.19. BlackRock Taxable Municipal Bond Trust shares last traded at $16.2550, with a volume of 175,437 shares trading hands.
BlackRock Taxable Municipal Bond Trust Stock Performance
The firm’s 50 day simple moving average is $16.41 and its 200 day simple moving average is $16.64.
BlackRock Taxable Municipal Bond Trust Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.0986 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 7.4%.
Hedge Funds Weigh In On BlackRock Taxable Municipal Bond Trust
A number of large investors have recently added to or reduced their stakes in BBN. Sit Investment Associates Inc. boosted its position in BlackRock Taxable Municipal Bond Trust by 5.9% during the fourth quarter. Sit Investment Associates Inc. now owns 6,694,566 shares of the investment management company’s stock valued at $109,255,000 after buying an additional 372,131 shares during the period. Gridiron Partners LLC grew its stake in shares of BlackRock Taxable Municipal Bond Trust by 20,210.0% during the third quarter. Gridiron Partners LLC now owns 6,200,851 shares of the investment management company’s stock valued at $1,029,000 after buying an additional 6,170,320 shares during the last quarter. Morgan Stanley increased its holdings in shares of BlackRock Taxable Municipal Bond Trust by 3.4% in the fourth quarter. Morgan Stanley now owns 5,213,773 shares of the investment management company’s stock worth $85,089,000 after buying an additional 169,391 shares during the period. Eagle Bluffs Wealth Management LLC increased its holdings in shares of BlackRock Taxable Municipal Bond Trust by 2.5% in the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 2,112,255 shares of the investment management company’s stock worth $34,472,000 after buying an additional 52,430 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of BlackRock Taxable Municipal Bond Trust by 58.6% in the 3rd quarter. Bank of America Corp DE now owns 1,048,712 shares of the investment management company’s stock valued at $17,409,000 after acquiring an additional 387,300 shares during the last quarter.
BlackRock Taxable Municipal Bond Trust Company Profile
The BlackRock Taxable Municipal Bond Trust (NYSE:BBN) is a closed-end management investment company that seeks to provide current income and preservation of capital through a diversified portfolio of taxable municipal debt securities. Advisement and portfolio management services are provided by BlackRock Advisors, LLC, leveraging the firm’s global credit research and trading capabilities to analyze risk and identify opportunities within the municipal bond sector.
Since its inception in 1989, BBN has invested primarily in investment-grade and non-investment-grade municipal obligations issued by U.S.