BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Stock Price Crosses Above 50-Day Moving Average – Here’s What Happened

BlackRock Taxable Municipal Bond Trust (NYSE:BBN) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $16.02 and traded as high as $16.02. BlackRock Taxable Municipal Bond Trust shares last traded at $15.9450, with a volume of 122,183 shares.

BlackRock Taxable Municipal Bond Trust Trading Down 0.5%

The business has a 50-day moving average price of $16.02 and a 200-day moving average price of $16.28.

BlackRock Taxable Municipal Bond Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.0986 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 7.4%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Garton & Associates Financial Advisors LLC acquired a new position in BlackRock Taxable Municipal Bond Trust during the 4th quarter valued at about $36,000. PNC Financial Services Group Inc. acquired a new stake in BlackRock Taxable Municipal Bond Trust in the first quarter worth about $39,000. Western Wealth Management LLC purchased a new stake in shares of BlackRock Taxable Municipal Bond Trust during the first quarter worth about $49,000. Farther Finance Advisors LLC grew its stake in shares of BlackRock Taxable Municipal Bond Trust by 99.2% during the fourth quarter. Farther Finance Advisors LLC now owns 6,276 shares of the investment management company’s stock worth $102,000 after acquiring an additional 3,126 shares during the last quarter. Finally, Commons Capital LLC acquired a new position in shares of BlackRock Taxable Municipal Bond Trust during the fourth quarter valued at about $165,000.

About BlackRock Taxable Municipal Bond Trust

The BlackRock Taxable Municipal Bond Trust (NYSE:BBN) is a closed-end management investment company that seeks to provide current income and preservation of capital through a diversified portfolio of taxable municipal debt securities. Advisement and portfolio management services are provided by BlackRock Advisors, LLC, leveraging the firm’s global credit research and trading capabilities to analyze risk and identify opportunities within the municipal bond sector.

Since its inception in 1989, BBN has invested primarily in investment-grade and non-investment-grade municipal obligations issued by U.S.