BlackRock Health Sciences Trust (NYSE:BME) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

BlackRock Health Sciences Trust (NYSE:BME) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $39.22 and traded as high as $39.96. BlackRock Health Sciences Trust shares last traded at $39.3350, with a volume of 67,527 shares.

BlackRock Health Sciences Trust Stock Performance

The firm’s 50-day simple moving average is $39.23 and its two-hundred day simple moving average is $40.54.

Hedge Funds Weigh In On BlackRock Health Sciences Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in BME. Northwestern Mutual Wealth Management Co. grew its position in BlackRock Health Sciences Trust by 285,436.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,046,055 shares of the company’s stock worth $166,414,000 after purchasing an additional 4,044,638 shares in the last quarter. 1607 Capital Partners LLC grew its position in BlackRock Health Sciences Trust by 49.5% during the 4th quarter. 1607 Capital Partners LLC now owns 229,260 shares of the company’s stock worth $9,429,000 after purchasing an additional 75,958 shares in the last quarter. Bank of America Corp DE grew its position in BlackRock Health Sciences Trust by 18.8% during the 3rd quarter. Bank of America Corp DE now owns 216,404 shares of the company’s stock worth $8,057,000 after purchasing an additional 34,218 shares in the last quarter. Royal Bank of Canada grew its position in BlackRock Health Sciences Trust by 13.0% during the 4th quarter. Royal Bank of Canada now owns 160,464 shares of the company’s stock worth $6,600,000 after purchasing an additional 18,442 shares in the last quarter. Finally, Consolidated Portfolio Review Corp grew its position in BlackRock Health Sciences Trust by 40.2% during the 3rd quarter. Consolidated Portfolio Review Corp now owns 54,522 shares of the company’s stock worth $2,030,000 after purchasing an additional 15,643 shares in the last quarter.

BlackRock Health Sciences Trust Company Profile

BlackRock Health Sciences Trust (NYSE: BME) is a closed-end management investment company that seeks long-term total return through a combination of dividend income and capital appreciation. Managed by BlackRock Fund Advisors, the trust invests primarily in the equity securities of domestic and international issuers engaged in the health sciences sector. The portfolio typically includes common stocks, corporate bonds and convertible securities of companies involved in biotechnology, pharmaceuticals, medical devices and healthcare services.