Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) Short Interest Up 62.7% in October

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 12,200 shares, an increase of 62.7% from the October 15th total of 7,500 shares. Based on an average daily trading volume, of 13,300 shares, the short-interest ratio is currently 0.9 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Truist Financial Corp bought a new position in shares of Blackrock 2037 Municipal Target Term Trust in the second quarter worth approximately $210,000. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Blackrock 2037 Municipal Target Term Trust during the 2nd quarter worth approximately $222,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Blackrock 2037 Municipal Target Term Trust by 52.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,701 shares of the company’s stock valued at $413,000 after purchasing an additional 5,730 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in shares of Blackrock 2037 Municipal Target Term Trust in the 2nd quarter worth about $493,000. Finally, Van ECK Associates Corp lifted its stake in shares of Blackrock 2037 Municipal Target Term Trust by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 35,136 shares of the company’s stock valued at $880,000 after purchasing an additional 3,858 shares during the last quarter.

Blackrock 2037 Municipal Target Term Trust Price Performance

Shares of BMN stock traded up $0.19 during trading hours on Thursday, hitting $25.26. 8,079 shares of the company’s stock traded hands, compared to its average volume of 18,081. The stock’s fifty day simple moving average is $25.12 and its two-hundred day simple moving average is $24.81. Blackrock 2037 Municipal Target Term Trust has a 12-month low of $23.35 and a 12-month high of $26.14.

Blackrock 2037 Municipal Target Term Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be paid a $0.094 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.13 annualized dividend and a dividend yield of 4.47%. This is a boost 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.