Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Stock Price Up 0.2% – Time to Buy?

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB)’s share price shot up 0.2% during mid-day trading on Friday . The company traded as high as $12.46 and last traded at $12.38. 198,803 shares changed hands during mid-day trading, an increase of 17% from the average session volume of 169,596 shares. The stock had previously closed at $12.35.

Blackstone Strategic Credit 2027 Term Fund Price Performance

The company’s fifty day moving average price is $12.34 and its 200 day moving average price is $12.11.

Blackstone Strategic Credit 2027 Term Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, November 21st will be given a dividend of $0.093 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.12 dividend on an annualized basis and a yield of 9.01%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BGB. Moors & Cabot Inc. boosted its stake in Blackstone Strategic Credit 2027 Term Fund by 22.7% during the 3rd quarter. Moors & Cabot Inc. now owns 13,500 shares of the company’s stock valued at $166,000 after purchasing an additional 2,500 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Blackstone Strategic Credit 2027 Term Fund by 62.0% during the third quarter. Advisors Asset Management Inc. now owns 448,817 shares of the company’s stock valued at $5,529,000 after buying an additional 171,790 shares during the last quarter. Avior Wealth Management LLC boosted its position in shares of Blackstone Strategic Credit 2027 Term Fund by 14.6% during the third quarter. Avior Wealth Management LLC now owns 24,315 shares of the company’s stock worth $300,000 after buying an additional 3,091 shares during the period. Pathstone Holdings LLC grew its holdings in Blackstone Strategic Credit 2027 Term Fund by 15.3% in the 3rd quarter. Pathstone Holdings LLC now owns 1,891,571 shares of the company’s stock worth $23,305,000 after buying an additional 251,419 shares in the last quarter. Finally, Shaker Financial Services LLC acquired a new stake in Blackstone Strategic Credit 2027 Term Fund in the 3rd quarter valued at approximately $1,096,000.

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.