BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Sees Large Increase in Short Interest

BlackRock Taxable Municipal Bond Trust (NYSE:BBN) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totaling 223,738 shares, an increase of 133.1% from the September 30th total of 95,993 shares. Based on an average trading volume of 349,302 shares, the short-interest ratio is currently 0.6 days.

BlackRock Taxable Municipal Bond Trust Trading Up 0.3%

NYSE BBN opened at $14.87 on Friday. The company’s 50 day simple moving average is $14.92 and its two-hundred day simple moving average is $15.80. BlackRock Taxable Municipal Bond Trust has a 1 year low of $14.16 and a 1 year high of $17.45.

BlackRock Taxable Municipal Bond Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be given a $0.0986 dividend. This represents a $1.18 annualized dividend and a dividend yield of 8.0%. The ex-dividend date is Friday, December 11th.

Institutional Investors Weigh In On BlackRock Taxable Municipal Bond Trust

Several hedge funds have recently bought and sold shares of BBN. Eagle Bluffs Wealth Management LLC grew its position in BlackRock Taxable Municipal Bond Trust by 4.3% in the first quarter. Eagle Bluffs Wealth Management LLC now owns 2,202,048 shares of the investment management company’s stock worth $35,607,000 after acquiring an additional 89,793 shares in the last quarter. Rivernorth Capital Management LLC increased its stake in BlackRock Taxable Municipal Bond Trust by 594.6% in the second quarter. Rivernorth Capital Management LLC now owns 1,622,646 shares of the investment management company’s stock valued at $26,238,000 after acquiring an additional 1,389,024 shares during the last quarter. Bank of America Corp DE increased its stake in BlackRock Taxable Municipal Bond Trust by 2.4% in the first quarter. Bank of America Corp DE now owns 1,128,853 shares of the investment management company’s stock valued at $18,254,000 after acquiring an additional 26,778 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in BlackRock Taxable Municipal Bond Trust by 2.2% in the second quarter. Envestnet Asset Management Inc. now owns 132,763 shares of the investment management company’s stock valued at $2,147,000 after acquiring an additional 2,892 shares during the last quarter. Finally, Park Avenue Securities LLC raised its position in BlackRock Taxable Municipal Bond Trust by 0.8% during the third quarter. Park Avenue Securities LLC now owns 115,290 shares of the investment management company’s stock valued at $1,660,000 after purchasing an additional 875 shares in the last quarter.

BlackRock Taxable Municipal Bond Trust Company Profile

BlackRock Taxable Municipal Bond Trust (NYSE: BBN) is a closed-end investment fund managed by BlackRock Advisors, LLC. The trust seeks to provide current income by investing primarily in taxable municipal bonds and other municipal obligations issued by states, cities, counties, and related governmental entities in the United States.

The fund’s portfolio may include Build America Bonds and other taxable municipal securities that finance public infrastructure and services, such as transportation, education, utilities, and healthcare facilities.