Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) Sees Significant Drop in Short Interest

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) saw a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 16,800 shares, a decrease of 46.5% from the January 31st total of 31,400 shares. Based on an average daily trading volume, of 14,400 shares, the days-to-cover ratio is currently 1.2 days.

Hedge Funds Weigh In On Blackrock 2037 Municipal Target Term Trust

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its position in Blackrock 2037 Municipal Target Term Trust by 0.7% during the fourth quarter. Bank of America Corp DE now owns 132,694 shares of the company’s stock valued at $3,396,000 after buying an additional 987 shares during the period. Raymond James Financial Inc. purchased a new stake in Blackrock 2037 Municipal Target Term Trust during the fourth quarter valued at about $818,000. Noble Wealth Management PBC purchased a new stake in Blackrock 2037 Municipal Target Term Trust during the fourth quarter valued at about $1,586,000. Truist Financial Corp lifted its holdings in Blackrock 2037 Municipal Target Term Trust by 10.1% during the fourth quarter. Truist Financial Corp now owns 21,420 shares of the company’s stock valued at $548,000 after purchasing an additional 1,958 shares during the last quarter. Finally, Westside Investment Management Inc. purchased a new stake in Blackrock 2037 Municipal Target Term Trust during the fourth quarter valued at about $34,000.

Blackrock 2037 Municipal Target Term Trust Stock Performance

BMN opened at $25.64 on Friday. The firm has a 50-day moving average of $25.47 and a 200 day moving average of $25.27. Blackrock 2037 Municipal Target Term Trust has a fifty-two week low of $23.68 and a fifty-two week high of $26.14.

Blackrock 2037 Municipal Target Term Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be given a dividend of $0.0938 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.13 annualized dividend and a yield of 4.39%.

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.