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 large 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.

Institutional Trading of Blackrock 2037 Municipal Target Term Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Truist Financial Corp acquired a new stake in shares of Blackrock 2037 Municipal Target Term Trust during the 2nd quarter worth approximately $210,000. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Blackrock 2037 Municipal Target Term Trust during the 2nd quarter worth approximately $222,000. HighTower Advisors LLC grew its position in shares of Blackrock 2037 Municipal Target Term Trust by 41.7% during the 3rd quarter. HighTower Advisors LLC now owns 14,168 shares of the company’s stock worth $363,000 after buying an additional 4,168 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Blackrock 2037 Municipal Target Term Trust by 52.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,701 shares of the company’s stock worth $413,000 after buying an additional 5,730 shares during the period. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Blackrock 2037 Municipal Target Term Trust during the 2nd quarter worth approximately $493,000.

Blackrock 2037 Municipal Target Term Trust Stock Performance

NYSE:BMN traded up $0.11 on Friday, reaching $25.71. 8,698 shares of the stock traded hands, compared to its average volume of 18,020. The company’s 50 day moving average is $25.17 and its 200-day moving average is $24.89. Blackrock 2037 Municipal Target Term Trust has a 1-year low of $23.35 and a 1-year high of $26.14.

Blackrock 2037 Municipal Target Term Trust Increases Dividend

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

About Blackrock 2037 Municipal Target Term Trust

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.