Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Trading Up 0.6% – Time to Buy?

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB)’s stock price shot up 0.6% on Friday . The company traded as high as $12.52 and last traded at $12.50. 87,495 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 169,572 shares. The stock had previously closed at $12.42.

Blackstone Strategic Credit 2027 Term Fund Stock Performance

The firm has a 50 day moving average price of $12.36 and a two-hundred day moving average price of $12.16.

Blackstone Strategic Credit 2027 Term Fund Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Friday, November 29th. Shareholders of record on Thursday, November 21st were given a $0.093 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 8.93%. The ex-dividend date of this dividend was Thursday, November 21st.

Institutional Trading of Blackstone Strategic Credit 2027 Term Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new stake in shares of Blackstone Strategic Credit 2027 Term Fund during the 2nd quarter valued at approximately $194,000. Cetera Investment Advisers grew its position in shares of Blackstone Strategic Credit 2027 Term Fund by 2.9% during the 2nd quarter. Cetera Investment Advisers now owns 120,777 shares of the company’s stock valued at $1,436,000 after buying an additional 3,387 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Blackstone Strategic Credit 2027 Term Fund by 11.3% during the second quarter. Envestnet Asset Management Inc. now owns 174,089 shares of the company’s stock worth $2,070,000 after acquiring an additional 17,665 shares during the period. Summit Trail Advisors LLC bought a new position in Blackstone Strategic Credit 2027 Term Fund in the second quarter worth about $250,000. Finally, Choreo LLC boosted its stake in Blackstone Strategic Credit 2027 Term Fund by 10.7% in the second quarter. Choreo LLC now owns 33,281 shares of the company’s stock valued at $397,000 after acquiring an additional 3,226 shares during the period.

Blackstone Strategic Credit 2027 Term Fund Company Profile

Blackstone Strategic Credit 2027 Term Fund is a close ended fixed income mutual fund launched and managed by GSO / Blackstone Debt Funds Management LLC. It invests in the fixed income markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in the loans and other fixed income instruments including first- and second-lien secured loans and high-yield corporate bonds of different maturities.