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

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 242,700 shares, a growth of 77.3% from the December 15th total of 136,900 shares. Based on an average daily volume of 167,100 shares, the days-to-cover ratio is currently 1.5 days.

Blackstone Strategic Credit 2027 Term Fund Stock Down 0.4 %

Shares of NYSE:BGB opened at $12.28 on Friday. The business’s 50-day moving average is $12.38 and its 200 day moving average is $12.25. Blackstone Strategic Credit 2027 Term Fund has a 1 year low of $11.40 and a 1 year high of $12.69.

Blackstone Strategic Credit 2027 Term Fund Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.089 per share. The ex-dividend date was Monday, December 23rd. This represents a dividend yield of 8.67%.

Hedge Funds Weigh In On Blackstone Strategic Credit 2027 Term Fund

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Choreo LLC lifted its stake in shares of Blackstone Strategic Credit 2027 Term Fund by 10.7% during the second quarter. Choreo LLC now owns 33,281 shares of the company’s stock worth $397,000 after buying an additional 3,226 shares during the period. Envestnet Asset Management Inc. grew its stake in Blackstone Strategic Credit 2027 Term Fund by 11.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 174,089 shares of the company’s stock valued at $2,070,000 after purchasing an additional 17,665 shares during the last quarter. Summit Trail Advisors LLC acquired a new position in shares of Blackstone Strategic Credit 2027 Term Fund in the second quarter valued at about $250,000. Cetera Investment Advisers raised its stake in shares of Blackstone Strategic Credit 2027 Term Fund by 2.9% in the second quarter. Cetera Investment Advisers now owns 120,777 shares of the company’s stock worth $1,436,000 after purchasing an additional 3,387 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Blackstone Strategic Credit 2027 Term Fund in the second quarter worth about $194,000.

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.