Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Short Interest Down 58.0% in March

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 116,000 shares, a drop of 58.0% from the February 28th total of 276,100 shares. Based on an average daily volume of 200,100 shares, the days-to-cover ratio is currently 0.6 days.

Blackstone Strategic Credit 2027 Term Fund Stock Performance

NYSE BGB remained flat at $12.03 on Friday. The company’s stock had a trading volume of 131,264 shares, compared to its average volume of 180,638. Blackstone Strategic Credit 2027 Term Fund has a 12-month low of $11.58 and a 12-month high of $12.69. The company’s fifty day moving average price is $12.31 and its 200 day moving average price is $12.34.

Blackstone Strategic Credit 2027 Term Fund Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 25th will be given a $0.089 dividend. This represents a dividend yield of 8.83%. The ex-dividend date of this dividend is Monday, March 24th.

Institutional Investors Weigh In On Blackstone Strategic Credit 2027 Term Fund

Several hedge funds have recently made changes to their positions in the company. Elequin Capital LP acquired a new stake in Blackstone Strategic Credit 2027 Term Fund during the 4th quarter valued at $103,000. Pathstone Holdings LLC raised its position in Blackstone Strategic Credit 2027 Term Fund by 1.9% during the fourth quarter. Pathstone Holdings LLC now owns 1,926,617 shares of the company’s stock valued at $23,570,000 after buying an additional 35,046 shares during the period. Citadel Advisors LLC purchased a new stake in Blackstone Strategic Credit 2027 Term Fund in the 4th quarter worth about $127,000. Cary Street Partners Financial LLC acquired a new stake in Blackstone Strategic Credit 2027 Term Fund during the 4th quarter worth about $1,057,000. Finally, Bank of America Corp DE boosted its position in Blackstone Strategic Credit 2027 Term Fund by 104.7% during the 4th quarter. Bank of America Corp DE now owns 2,336,627 shares of the company’s stock worth $28,577,000 after acquiring an additional 1,195,382 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.