Blackstone Senior Floating Rate 2027 Term Fund (NYSE:BSL) Shares Shorted: Short Interest Up 62.9% in September

Blackstone Senior Floating Rate 2027 Term Fund (NYSE:BSL) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totaling 29,024 shares, an increase of 62.9% from the September 15th total of 17,813 shares. Based on an average trading volume of 43,641 shares, the short-interest ratio is presently 0.7 days.

Blackstone Senior Floating Rate 2027 Term Fund Price Performance

BSL opened at $12.94 on Friday. The stock has a fifty day moving average price of $12.99 and a 200 day moving average price of $13.01. Blackstone Senior Floating Rate 2027 Term Fund has a 1 year low of $12.45 and a 1 year high of $13.99.

Blackstone Senior Floating Rate 2027 Term Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be paid a $0.0840 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $1.01 annualized dividend and a dividend yield of 7.8%.

Hedge Funds Weigh In On Blackstone Senior Floating Rate 2027 Term Fund

A number of hedge funds have recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC increased its stake in shares of Blackstone Senior Floating Rate 2027 Term Fund by 3.4% during the 2nd quarter. Rivernorth Capital Management LLC now owns 80,558 shares of the company’s stock worth $1,043,000 after purchasing an additional 2,649 shares during the last quarter. Beacon Pointe Advisors LLC bought a new stake in Blackstone Senior Floating Rate 2027 Term Fund in the second quarter worth $424,000. Comprehensive Money Management Services LLC bought a new stake in Blackstone Senior Floating Rate 2027 Term Fund in the second quarter worth $431,000. Almitas Capital LLC bought a new stake in Blackstone Senior Floating Rate 2027 Term Fund in the second quarter worth $576,000. Finally, Bank of America Corp DE acquired a new position in Blackstone Senior Floating Rate 2027 Term Fund during the second quarter worth $7,246,000.

Blackstone Senior Floating Rate 2027 Term Fund Company Profile

Blackstone Senior Floating Rate 2027 Term Fund (NYSE: BSL) is a closed-end investment company designed to provide investors with current income while preserving capital. The fund primarily invests in senior secured, floating-rate loans and other debt investments issued by companies across a range of industries.

The fund generally focuses on below-investment-grade corporate loans, which typically pay interest at rates that adjust periodically based on a reference interest rate. This structure may help reduce the impact of rising interest rates compared with investments in fixed-rate debt, although the fund remains subject to credit, liquidity and other investment risks.

BSL was formerly known as Blackstone/GSO Senior Floating Rate Term Fund and is advised by an affiliate of Blackstone, a global alternative asset management firm.