Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) Sees Significant Increase in Short Interest

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) was the target of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 26,600 shares, a growth of 118.0% from the October 31st total of 12,200 shares. Based on an average daily volume of 12,800 shares, the days-to-cover ratio is presently 2.1 days.

Blackrock 2037 Municipal Target Term Trust Trading Up 0.4 %

BMN traded up $0.11 on Friday, hitting $25.71. 8,698 shares of the stock were exchanged, compared to its average volume of 18,020. Blackrock 2037 Municipal Target Term Trust has a 12 month low of $23.35 and a 12 month high of $26.14. The business has a 50-day moving average of $25.17 and a two-hundred day moving average of $24.89.

Blackrock 2037 Municipal Target Term Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a dividend of $0.094 per share. This is a boost from Blackrock 2037 Municipal Target Term Trust’s previous monthly dividend of $0.09. The ex-dividend date is Friday, November 15th. This represents a $1.13 annualized dividend and a yield of 4.39%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Truist Financial Corp bought a new position in shares of Blackrock 2037 Municipal Target Term Trust in the second quarter worth about $210,000. Commonwealth Equity Services LLC bought a new position in shares of Blackrock 2037 Municipal Target Term Trust in the second quarter worth about $493,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Blackrock 2037 Municipal Target Term Trust by 52.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,701 shares of the company’s stock valued at $413,000 after buying an additional 5,730 shares during the period. Van ECK Associates Corp increased its stake in shares of Blackrock 2037 Municipal Target Term Trust by 12.3% in the third quarter. Van ECK Associates Corp now owns 35,136 shares of the company’s stock valued at $880,000 after buying an additional 3,858 shares during the period. Finally, Dorsey & Whitney Trust CO LLC acquired a new position in shares of Blackrock 2037 Municipal Target Term Trust in the second quarter valued at approximately $222,000.

Blackrock 2037 Municipal Target Term Trust Company Profile

Blackrock 2037 Municipal Target Term Trust is an close-ended fixed income mutual fund launched by Blackrock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in fixed income markets. The fund primarily invests in n investment grade municipal securities that are rated BBB- or above by S&P and Fitch or Baa3 or above by Moody's.