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

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 26,600 shares, a growth of 118.0% from the October 31st total of 12,200 shares. Based on an average daily trading volume, of 12,800 shares, the short-interest ratio is presently 2.1 days.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its position in shares of Blackrock 2037 Municipal Target Term Trust by 52.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,701 shares of the company’s stock worth $413,000 after purchasing an additional 5,730 shares during the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Blackrock 2037 Municipal Target Term Trust in the second quarter valued at $493,000. Dorsey & Whitney Trust CO LLC acquired a new position in Blackrock 2037 Municipal Target Term Trust during the second quarter worth $222,000. Truist Financial Corp bought a new stake in Blackrock 2037 Municipal Target Term Trust during the second quarter worth $210,000. Finally, Van ECK Associates Corp raised its position in Blackrock 2037 Municipal Target Term Trust by 12.3% during the third quarter. Van ECK Associates Corp now owns 35,136 shares of the company’s stock worth $880,000 after acquiring an additional 3,858 shares in the last quarter.

Blackrock 2037 Municipal Target Term Trust Trading Up 1.2 %

NYSE:BMN traded up $0.31 on Thursday, hitting $25.60. 27,817 shares of the company’s stock were exchanged, compared to its average volume of 18,061. The firm has a 50-day moving average price of $25.15 and a 200-day moving average price of $24.88. Blackrock 2037 Municipal Target Term Trust has a 52 week low of $23.35 and a 52 week high of $26.14.

Blackrock 2037 Municipal Target Term Trust Increases Dividend

The business 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 $0.094 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 4.41%. This is an increase from Blackrock 2037 Municipal Target Term Trust’s previous monthly dividend of $0.09.

Blackrock 2037 Municipal Target Term Trust Company Profile

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.