Short Interest in Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) Expands By 9.9%

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 28,800 shares, a growth of 9.9% from the November 30th total of 26,200 shares. Based on an average trading volume of 12,900 shares, the days-to-cover ratio is presently 2.2 days.

Blackrock 2037 Municipal Target Term Trust Price Performance

Shares of BMN opened at $25.46 on Tuesday. The company’s 50-day moving average is $25.25 and its 200-day moving average is $25.04. Blackrock 2037 Municipal Target Term Trust has a fifty-two week low of $23.43 and a fifty-two week high of $26.14.

Blackrock 2037 Municipal Target Term Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.0938 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 4.42%.

Institutional Trading of Blackrock 2037 Municipal Target Term Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Truist Financial Corp bought a new stake in shares of Blackrock 2037 Municipal Target Term Trust during the 2nd quarter worth $210,000. Dorsey & Whitney Trust CO LLC acquired a new stake in shares of Blackrock 2037 Municipal Target Term Trust in the 2nd quarter valued at approximately $222,000. HighTower Advisors LLC grew its holdings in shares of Blackrock 2037 Municipal Target Term Trust by 41.7% during the 3rd quarter. HighTower Advisors LLC now owns 14,168 shares of the company’s stock valued at $363,000 after purchasing an additional 4,168 shares during the last quarter. Commonwealth Equity Services LLC acquired a new position in Blackrock 2037 Municipal Target Term Trust during the 2nd quarter worth approximately $493,000. Finally, Van ECK Associates Corp lifted its stake in Blackrock 2037 Municipal Target Term Trust by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 35,136 shares of the company’s stock valued at $880,000 after purchasing an additional 3,858 shares during the last quarter.

About Blackrock 2037 Municipal Target Term Trust

Blackrock 2037 Municipal Target Term Trust is an close-ended fixed income mutual fund launched by Blackrock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in fixed income markets. The fund primarily invests in n investment grade municipal securities that are rated BBB- or above by S&P and Fitch or Baa3 or above by Moody's.