Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) Shares Shorted: Short Interest Down 77.7% in October

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 1,468 shares, a decline of 77.7% from the September 30th total of 6,581 shares. Based on an average daily volume of 57,812 shares, the days-to-cover ratio is presently 0.0 days.

Blackrock 2037 Municipal Target Term Trust Price Performance

Shares of Blackrock 2037 Municipal Target Term Trust stock traded up $0.17 during trading on Thursday, hitting $22.98. 17,919 shares of the company were exchanged, compared to its average volume of 14,404. The firm’s fifty day moving average price is $23.59 and its 200 day moving average price is $25.41. Blackrock 2037 Municipal Target Term Trust has a 1-year low of $21.28 and a 1-year high of $27.96.

Blackrock 2037 Municipal Target Term Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be given a $0.0993 dividend. This represents a $1.19 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend is Friday, December 11th.

Insider Transactions at Blackrock 2037 Municipal Target Term Trust

In related news, major shareholder Of America Corp /De/ Bank bought 3,070 shares of Blackrock 2037 Municipal Target Term Trust stock in a transaction dated Tuesday, October 27th. The shares were bought at an average cost of $22.98 per share, for a total transaction of $70,548.60. Following the completion of the transaction, the insider owned 3,070 shares of the company’s stock, valued at approximately $70,548.60. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Hedge Funds Weigh In On Blackrock 2037 Municipal Target Term Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. lifted its holdings in Blackrock 2037 Municipal Target Term Trust by 0.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 132,064 shares of the company’s stock worth $3,394,000 after purchasing an additional 630 shares during the last quarter. Bank of America Corp DE raised its position in Blackrock 2037 Municipal Target Term Trust by 6.1% during the first quarter. Bank of America Corp DE now owns 122,544 shares of the company’s stock valued at $3,179,000 after purchasing an additional 7,029 shares in the last quarter. Van ECK Associates Corp grew its position in Blackrock 2037 Municipal Target Term Trust by 6.3% in the second quarter. Van ECK Associates Corp now owns 36,239 shares of the company’s stock valued at $931,000 after acquiring an additional 2,154 shares during the last quarter. Apollon Wealth Management LLC acquired a new stake in Blackrock 2037 Municipal Target Term Trust in the third quarter valued at approximately $573,000. Finally, DUTCH ASSET Corp increased its holdings in Blackrock 2037 Municipal Target Term Trust by 30.3% in the 1st quarter. DUTCH ASSET Corp now owns 11,551 shares of the company’s stock worth $300,000 after purchasing an additional 2,689 shares in the last quarter.

About Blackrock 2037 Municipal Target Term Trust

BlackRock 2037 Municipal Target Term Trust (NYSE: BMN) is a closed-end management investment company sponsored and managed by BlackRock. The fund is designed to provide current income that is exempt from regular U.S. federal income tax, although some income may be subject to the alternative minimum tax or state and local taxes.

BMN invests primarily in a portfolio of municipal bonds and other municipal obligations issued by states, cities, counties, public authorities and similar governmental entities.