BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) Short Interest Update

BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 18,000 shares, an increase of 69.8% from the March 15th total of 10,600 shares. Based on an average daily trading volume, of 58,100 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the company’s stock are short sold.

BlackRock Investment Quality Municipal Trust Price Performance

Shares of BlackRock Investment Quality Municipal Trust stock opened at $10.69 on Friday. BlackRock Investment Quality Municipal Trust has a 52 week low of $10.22 and a 52 week high of $13.16. The stock has a 50 day moving average price of $11.32 and a two-hundred day moving average price of $11.73.

BlackRock Investment Quality Municipal Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be paid a $0.057 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 6.40%. The ex-dividend date is Tuesday, April 15th.

Hedge Funds Weigh In On BlackRock Investment Quality Municipal Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in BlackRock Investment Quality Municipal Trust during the 4th quarter valued at $759,000. LPL Financial LLC boosted its stake in BlackRock Investment Quality Municipal Trust by 19.8% in the fourth quarter. LPL Financial LLC now owns 197,540 shares of the company’s stock valued at $2,203,000 after acquiring an additional 32,651 shares during the last quarter. Horizon Kinetics Asset Management LLC bought a new position in BlackRock Investment Quality Municipal Trust during the fourth quarter valued at $470,000. Signaturefd LLC purchased a new stake in shares of BlackRock Investment Quality Municipal Trust during the 4th quarter valued at approximately $52,000. Finally, Wolverine Asset Management LLC bought a new stake in shares of BlackRock Investment Quality Municipal Trust during the fourth quarter valued at about $406,000. Institutional investors and hedge funds own 26.67% of the company’s stock.

About BlackRock Investment Quality Municipal Trust

BlackRock Investment Quality Municipal Trust Inc 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. It invests primarily in investment grade municipal bonds municipal obligations exempt from federal income taxes.