BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

Shares of BlackRock Taxable Municipal Bond Trust (NYSE:BBN) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $15.77 and traded as low as $14.16. BlackRock Taxable Municipal Bond Trust shares last traded at $14.2910, with a volume of 251,083 shares traded.

BlackRock Taxable Municipal Bond Trust Stock Up 0.4%

The firm has a fifty day simple moving average of $15.32 and a 200 day simple moving average of $15.76.

BlackRock Taxable Municipal Bond Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be given a $0.0986 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $1.18 annualized dividend and a dividend yield of 8.2%.

Institutional Investors Weigh In On BlackRock Taxable Municipal Bond Trust

Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. bought a new stake in BlackRock Taxable Municipal Bond Trust in the first quarter valued at about $39,000. Western Wealth Management LLC acquired a new stake in shares of BlackRock Taxable Municipal Bond Trust in the first quarter valued at approximately $49,000. Farther Finance Advisors LLC raised its stake in BlackRock Taxable Municipal Bond Trust by 26.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,983 shares of the investment management company’s stock valued at $57,000 after acquiring an additional 833 shares in the last quarter. Arkadios Wealth Advisors bought a new position in BlackRock Taxable Municipal Bond Trust in the 1st quarter valued at about $173,000. Finally, Nwam LLC acquired a new stake in BlackRock Taxable Municipal Bond Trust in the first quarter worth approximately $178,000.

BlackRock Taxable Municipal Bond Trust Company Profile

BlackRock Taxable Municipal Bond Trust (NYSE: BBN) is a closed-end management investment company sponsored and managed by BlackRock. The trust seeks to provide current income and, to a lesser extent, capital appreciation by investing primarily in taxable municipal obligations issued by states, cities, counties, public authorities and other governmental entities.

Unlike traditional municipal bond funds that generally emphasize federally tax-exempt securities, BBN focuses on taxable municipal bonds.