Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (NYSE:GBAB) Stock Price Breaks Below 50-Day Moving Average – Here’s Why

Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (NYSE:GBAB) shares passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $12.84 and traded as low as $12.76. Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust shares last traded at $12.8150, with a volume of 155,690 shares.

Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust Price Performance

The company has a fifty day moving average price of $12.84 and a two-hundred day moving average price of $14.03.

Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 13th will be given a dividend of $0.1257 per share. This represents a $1.51 annualized dividend and a yield of 11.8%. This is a negative change from Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust’s previous monthly dividend of $0.1257. The ex-dividend date of this dividend is Friday, November 13th.

Institutional Investors Weigh In On Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust

Several large investors have recently modified their holdings of the company. Bank of America Corp DE increased its holdings in shares of Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust by 10.0% in the 1st quarter. Bank of America Corp DE now owns 589,291 shares of the investment management company’s stock valued at $8,545,000 after acquiring an additional 53,498 shares during the period. StoneX Group Inc. purchased a new stake in Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust in the 3rd quarter valued at $4,561,000. Rivernorth Capital Management LLC purchased a new stake in Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust in the 2nd quarter valued at $4,178,000. Cooper Financial Group boosted its stake in Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust by 4.4% during the 2nd quarter. Cooper Financial Group now owns 164,368 shares of the investment management company’s stock worth $2,377,000 after purchasing an additional 6,872 shares during the period. Finally, Venture Visionary Partners LLC grew its position in Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust by 26.8% during the 3rd quarter. Venture Visionary Partners LLC now owns 179,622 shares of the investment management company’s stock worth $2,234,000 after purchasing an additional 38,000 shares during the last quarter.

Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust Company Profile

Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust is a closed-end management investment company listed on the New York Stock Exchange under the symbol GBAB. The trust seeks to provide current income and, to a lesser extent, capital appreciation by investing primarily in taxable municipal securities and other investment-grade debt obligations. Its portfolio may include taxable municipal bonds issued by states, municipalities, public authorities and other governmental entities, including Build America Bonds and similar securities.