BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) Sees Significant Growth in Short Interest

BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 28,000 shares, an increase of 30.2% from the October 15th total of 21,500 shares. Based on an average daily volume of 28,600 shares, the short-interest ratio is presently 1.0 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BTA. Rothschild Investment LLC bought a new position in BlackRock Long-Term Municipal Advantage Trust in the second quarter valued at $33,000. Landscape Capital Management L.L.C. bought a new position in BlackRock Long-Term Municipal Advantage Trust in the third quarter valued at $120,000. PFG Investments LLC bought a new position in BlackRock Long-Term Municipal Advantage Trust in the third quarter valued at $131,000. Concorde Asset Management LLC grew its position in shares of BlackRock Long-Term Municipal Advantage Trust by 12.4% in the 3rd quarter. Concorde Asset Management LLC now owns 12,577 shares of the financial services provider’s stock valued at $135,000 after acquiring an additional 1,392 shares during the period. Finally, Wolverine Asset Management LLC grew its position in shares of BlackRock Long-Term Municipal Advantage Trust by 33.7% in the 2nd quarter. Wolverine Asset Management LLC now owns 14,067 shares of the financial services provider’s stock valued at $142,000 after acquiring an additional 3,542 shares during the period.

BlackRock Long-Term Municipal Advantage Trust Stock Up 0.3 %

BlackRock Long-Term Municipal Advantage Trust stock opened at $10.51 on Friday. BlackRock Long-Term Municipal Advantage Trust has a 1-year low of $9.12 and a 1-year high of $10.97. The company has a fifty day simple moving average of $10.54 and a 200 day simple moving average of $10.34.

BlackRock Long-Term Municipal Advantage Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a $0.0495 dividend. This represents a $0.59 dividend on an annualized basis and a yield of 5.65%. The ex-dividend date of this dividend is Friday, November 15th.

About BlackRock Long-Term Municipal Advantage Trust

BlackRock Long-Term Municipal Advantage Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets of the United States. It uses financial derivatives to invest in municipal obligations. The fund primarily invests in long-term municipal bonds with a maturity of more than ten years at the time of investment.