BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) Sees Significant Growth in Short Interest

BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) was the target of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 19,700 shares, an increase of 44.9% from the February 13th total of 13,600 shares. Based on an average daily trading volume, of 42,900 shares, the days-to-cover ratio is currently 0.5 days.

BlackRock Long-Term Municipal Advantage Trust Stock Performance

NYSE BTA opened at $9.74 on Friday. BlackRock Long-Term Municipal Advantage Trust has a fifty-two week low of $9.48 and a fifty-two week high of $11.10. The business has a 50 day moving average price of $9.87 and a two-hundred day moving average price of $10.24.

BlackRock Long-Term Municipal Advantage Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.0495 per share. This represents a $0.59 annualized dividend and a yield of 6.10%. The ex-dividend date is Friday, March 14th.

Hedge Funds Weigh In On BlackRock Long-Term Municipal Advantage Trust

A number of institutional investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its stake in shares of BlackRock Long-Term Municipal Advantage Trust by 2.8% in the fourth quarter. Van ECK Associates Corp now owns 68,884 shares of the financial services provider’s stock worth $672,000 after acquiring an additional 1,845 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in shares of BlackRock Long-Term Municipal Advantage Trust during the 4th quarter valued at approximately $1,432,000. Natural Investments LLC acquired a new stake in shares of BlackRock Long-Term Municipal Advantage Trust during the fourth quarter worth approximately $156,000. Landscape Capital Management L.L.C. bought a new stake in shares of BlackRock Long-Term Municipal Advantage Trust in the third quarter worth $120,000. Finally, Stratos Investment Management LLC acquired a new stake in BlackRock Long-Term Municipal Advantage Trust in the fourth quarter valued at $163,000.

BlackRock Long-Term Municipal Advantage Trust Company Profile

BlackRock Long-Term Municipal Advantage Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets of the United States. It uses financial derivatives to invest in municipal obligations. The fund primarily invests in long-term municipal bonds with a maturity of more than ten years at the time of investment.