Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Short Interest Down 31.5% in February

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) was the target of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 276,100 shares, a decrease of 31.5% from the February 13th total of 402,800 shares. Based on an average trading volume of 203,800 shares, the short-interest ratio is currently 1.4 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE acquired a new stake in Blackstone Strategic Credit 2027 Term Fund in the 4th quarter valued at about $45,000. Spire Wealth Management bought a new stake in shares of Blackstone Strategic Credit 2027 Term Fund during the fourth quarter valued at approximately $67,000. Elequin Capital LP acquired a new stake in shares of Blackstone Strategic Credit 2027 Term Fund in the fourth quarter valued at approximately $103,000. Citadel Advisors LLC bought a new position in Blackstone Strategic Credit 2027 Term Fund in the 4th quarter worth approximately $127,000. Finally, Apollon Wealth Management LLC acquired a new position in Blackstone Strategic Credit 2027 Term Fund during the 4th quarter worth $148,000.

Blackstone Strategic Credit 2027 Term Fund Trading Up 0.6 %

BGB stock traded up $0.08 during midday trading on Monday, reaching $12.11. 140,261 shares of the company’s stock traded hands, compared to its average volume of 180,196. The company has a 50-day simple moving average of $12.34 and a two-hundred day simple moving average of $12.36. Blackstone Strategic Credit 2027 Term Fund has a 1-year low of $11.58 and a 1-year high of $12.69.

Blackstone Strategic Credit 2027 Term Fund Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 22nd will be paid a $0.089 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.07 dividend on an annualized basis and a dividend yield of 8.82%.

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.