BlackRock Health Sciences Term Trust (NYSE:BMEZ) Sees Large Decline in Short Interest

by · The Markets Daily

BlackRock Health Sciences Term Trust (NYSE:BMEZ – Get Free Report) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 79,800 shares, a drop of 7.4% from the September 30th total of 86,200 shares. Based on an average daily trading volume, of 195,000 shares, the days-to-cover ratio is currently 0.4 days.

Insider Activity at BlackRock Health Sciences Term Trust

In related news, major shareholder Saba Capital Management, L.P. acquired 15,455 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were bought at an average cost of 16.14 per share, with a total value of 249,443.70. Following the completion of the purchase, the insider now directly owns 20,601,568 shares in the company, valued at 332,509,307.52. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders acquired a total of 99,630 shares of company stock worth $1,585,113 in the last quarter.

Institutional Investors Weigh In On BlackRock Health Sciences Term Trust

A number of hedge funds have recently made changes to their positions in BMEZ. Almitas Capital LLC increased its holdings in BlackRock Health Sciences Term Trust by 89.3% during the second quarter. Almitas Capital LLC now owns 1,761,943 shares of the company’s stock worth $27,063,000 after buying an additional 831,025 shares during the last quarter. Commonwealth Equity Services LLC grew its position in BlackRock Health Sciences Term Trust by 4.1% during the first quarter. Commonwealth Equity Services LLC now owns 142,038 shares of the company’s stock worth $2,328,000 after buying an additional 5,537 shares in the last quarter. Comerica Bank increased its stake in BlackRock Health Sciences Term Trust by 31.1% in the 1st quarter. Comerica Bank now owns 15,469 shares of the company’s stock worth $254,000 after acquiring an additional 3,671 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of BlackRock Health Sciences Term Trust by 11.2% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 65,088 shares of the company’s stock valued at $1,000,000 after acquiring an additional 6,565 shares in the last quarter. Finally, Dakota Wealth Management boosted its position in shares of BlackRock Health Sciences Term Trust by 5.3% during the 2nd quarter. Dakota Wealth Management now owns 18,242 shares of the company’s stock valued at $280,000 after acquiring an additional 915 shares during the last quarter.

BlackRock Health Sciences Term Trust Trading Down 0.6 %

NYSE BMEZ traded down 0.09 on Thursday, reaching 15.43. The company had a trading volume of 227,200 shares, compared to its average volume of 265,695. BlackRock Health Sciences Term Trust has a 52-week low of 12.93 and a 52-week high of 16.59. The company’s fifty day moving average is 15.83 and its 200 day moving average is 15.48.

BlackRock Health Sciences Term Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be paid a $0.176 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.11 dividend on an annualized basis and a dividend yield of 13.69%.

BlackRock Health Sciences Term Trust Company Profile

(Get Free Report)

BlackRock Health Sciences Trust II’s (BMEZ) (the ‘Trust’) investment objective is to provide total return and income through a combination of current income, current gains and long-term capital appreciation. The Trust seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its total assets in equity securities of companies principally engaged in the health sciences group of industries and equity derivatives with exposure to the health sciences group of industries.

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