Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) Trading 0.6% Higher – Still a Buy?

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) traded up 0.6% during mid-day trading on Tuesday . The stock traded as high as $26.44 and last traded at $26.44. 2,258 shares changed hands during trading, a decline of 76% from the average session volume of 9,347 shares. The stock had previously closed at $26.27.

Blackrock 2037 Municipal Target Term Trust Stock Performance

The firm’s 50 day moving average is $25.91 and its 200-day moving average is $26.07.

Blackrock 2037 Municipal Target Term Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a $0.0938 dividend. This represents a c) annualized dividend and a yield of 4.3%. The ex-dividend date is Tuesday, September 15th.

Institutional Trading of Blackrock 2037 Municipal Target Term Trust

Several large investors have recently added to or reduced their stakes in BMN. Osaic Holdings Inc. grew its holdings in Blackrock 2037 Municipal Target Term Trust by 173.2% in the 2nd quarter. Osaic Holdings Inc. now owns 5,000 shares of the company’s stock valued at $123,000 after buying an additional 3,170 shares in the last quarter. DUTCH ASSET Corp purchased a new stake in Blackrock 2037 Municipal Target Term Trust in the 4th quarter valued at $232,000. Dorsey & Whitney Trust CO LLC grew its holdings in Blackrock 2037 Municipal Target Term Trust by 33.3% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 12,000 shares of the company’s stock valued at $314,000 after buying an additional 3,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Blackrock 2037 Municipal Target Term Trust by 17.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,546 shares of the company’s stock valued at $355,000 after buying an additional 2,009 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Blackrock 2037 Municipal Target Term Trust by 4.6% in the 4th quarter. Invesco Ltd. now owns 18,264 shares of the company’s stock valued at $478,000 after buying an additional 802 shares in the last quarter.

Blackrock 2037 Municipal Target Term Trust Company Profile

BlackRock 2037 Municipal Target Term Trust (NYSE:BMN) is a closed-end management investment company sponsored by BlackRock, Inc, one of the world’s largest asset managers. The trust was established to provide investors with exposure to a diversified portfolio of U.S. municipal securities and seeks to deliver federally tax-exempt income. As a target-term fund, BMN has a predetermined termination date of January 23, 2037, at which time the trust’s assets will be liquidated and net proceeds distributed to shareholders.

The fund’s investment objective is current income exempt from regular U.S.