BlackRock Energy and Resources Trust (NYSE:BGR) Sees Significant Decrease in Short Interest
by Tristan Rich · The Markets DailyBlackRock Energy and Resources Trust (NYSE:BGR – Get Free Report) was the recipient of a large decline in short interest during the month of June. As of June 15th, there was short interest totaling 6,288 shares, a decline of 72.4% from the May 31st total of 22,794 shares. Based on an average daily trading volume, of 110,622 shares, the short-interest ratio is currently 0.1 days.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of BlackRock Energy and Resources Trust by 15.4% in the 1st quarter. Royal Bank of Canada now owns 138,477 shares of the company’s stock valued at $2,397,000 after purchasing an additional 18,474 shares during the last quarter. Cypress Capital Group bought a new stake in BlackRock Energy and Resources Trust during the first quarter valued at $208,000. Cetera Investment Advisers grew its holdings in BlackRock Energy and Resources Trust by 4.7% during the 1st quarter. Cetera Investment Advisers now owns 64,454 shares of the company’s stock worth $1,116,000 after acquiring an additional 2,864 shares during the period. PNC Financial Services Group Inc. raised its position in shares of BlackRock Energy and Resources Trust by 14.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,811 shares of the company’s stock worth $101,000 after acquiring an additional 720 shares in the last quarter. Finally, Parallel Advisors LLC acquired a new position in shares of BlackRock Energy and Resources Trust in the 1st quarter valued at about $101,000.
BlackRock Energy and Resources Trust Trading Up 0.4%
Shares of BGR stock traded up $0.07 on Monday, hitting $14.72. The company had a trading volume of 91,623 shares, compared to its average volume of 150,251. BlackRock Energy and Resources Trust has a twelve month low of $12.92 and a twelve month high of $17.70. The stock’s 50-day moving average is $15.85 and its two-hundred day moving average is $15.39.
BlackRock Energy and Resources Trust Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.0973 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 7.9%.
About BlackRock Energy and Resources Trust
BlackRock Energy and Resources Trust (NYSE: BGR) is a closed-end management investment company that seeks to provide a combination of current income and long-term capital appreciation. The trust focuses its investments primarily on equity and equity-related securities of companies engaged in the energy and natural resources sectors, including exploration, production, refining, distribution and related services.
The trust’s portfolio typically comprises common stocks, American Depositary Receipts (ADRs), master limited partnerships (MLPs) and other equity-linked instruments issued by firms operating in upstream and downstream energy markets, metals and mining, chemicals and related industries.