Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Sees Significant Growth in Short Interest

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) saw a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 103,600 shares, an increase of 66.8% from the July 31st total of 62,100 shares. Based on an average daily volume of 189,100 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BGB. Eagle Bay Advisors LLC acquired a new position in shares of Blackstone Strategic Credit 2027 Term Fund in the first quarter valued at approximately $33,000. Comerica Bank raised its stake in shares of Blackstone Strategic Credit 2027 Term Fund by 32.1% in the 1st quarter. Comerica Bank now owns 5,508 shares of the company’s stock valued at $66,000 after purchasing an additional 1,338 shares during the period. Concurrent Investment Advisors LLC bought a new stake in shares of Blackstone Strategic Credit 2027 Term Fund in the second quarter valued at about $135,000. Perigon Wealth Management LLC bought a new position in shares of Blackstone Strategic Credit 2027 Term Fund during the first quarter worth about $151,000. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Blackstone Strategic Credit 2027 Term Fund in the 1st quarter valued at approximately $153,000.

Blackstone Strategic Credit 2027 Term Fund Stock Down 0.3 %

Shares of BGB opened at $12.17 on Friday. The company has a 50-day simple moving average of $12.01 and a 200-day simple moving average of $11.90. Blackstone Strategic Credit 2027 Term Fund has a 52 week low of $10.47 and a 52 week high of $12.30.

Blackstone Strategic Credit 2027 Term Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were paid a dividend of $0.101 per share. This represents a $1.21 annualized dividend and a yield of 9.96%. The ex-dividend date of this dividend was Friday, August 23rd.

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.