BlackRock Core Bond Trust (NYSE:BHK) Stock Passes Above Fifty Day Moving Average – What’s Next?
by Tristan Rich · The Markets DailyShares of BlackRock Core Bond Trust (NYSE:BHK – Get Free Report) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $9.59 and traded as high as $9.63. BlackRock Core Bond Trust shares last traded at $9.5850, with a volume of 485,082 shares trading hands.
BlackRock Core Bond Trust Price Performance
The firm has a 50 day moving average of $9.59 and a 200-day moving average of $9.68.
BlackRock Core Bond Trust Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a $0.0746 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date of this dividend is Friday, March 13th.
Institutional Investors Weigh In On BlackRock Core Bond Trust
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BHK. Rareview Capital LLC acquired a new position in BlackRock Core Bond Trust in the second quarter worth approximately $538,000. Mesirow Financial Investment Management Inc. grew its position in BlackRock Core Bond Trust by 203.9% in the second quarter. Mesirow Financial Investment Management Inc. now owns 74,017 shares of the investment management company’s stock worth $719,000 after acquiring an additional 49,662 shares in the last quarter. Guggenheim Capital LLC grew its position in BlackRock Core Bond Trust by 10.8% in the second quarter. Guggenheim Capital LLC now owns 947,831 shares of the investment management company’s stock worth $9,213,000 after acquiring an additional 92,727 shares in the last quarter. Karpus Management Inc. acquired a new position in shares of BlackRock Core Bond Trust during the 2nd quarter worth $19,307,000. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of BlackRock Core Bond Trust by 93.1% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 463,620 shares of the investment management company’s stock valued at $4,506,000 after purchasing an additional 223,584 shares in the last quarter.
About BlackRock Core Bond Trust
BlackRock Core Bond Trust (NYSE: BHK) is a closed-end management investment company that seeks to provide shareholders with a high level of current income, consistent with the preservation of capital. The trust primarily invests in a diversified portfolio of investment-grade fixed-income securities, including U.S. government and agency obligations, corporate bonds, mortgage- and asset-backed securities, and other debt instruments. The fund may employ leverage to enhance its income-generating potential.
Since its inception in 2008, BHK has been managed by a dedicated team of fixed-income professionals at BlackRock Advisors, drawing on the firm’s global research capabilities and risk-management platform.