Short Interest in Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) Rises By 59.5%

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) was the target of a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 12,082 shares, an increase of 59.5% from the November 30th total of 7,575 shares. Based on an average daily volume of 11,774 shares, the short-interest ratio is presently 1.0 days. Based on an average daily volume of 11,774 shares, the short-interest ratio is presently 1.0 days.

Blackrock 2037 Municipal Target Term Trust Price Performance

NYSE BMN traded up $0.10 on Friday, hitting $25.90. 3,202 shares of the company were exchanged, compared to its average volume of 13,155. Blackrock 2037 Municipal Target Term Trust has a twelve month low of $23.04 and a twelve month high of $26.09. The company’s 50 day moving average price is $25.06 and its 200-day moving average price is $24.82.

Blackrock 2037 Municipal Target Term Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be given a $0.0938 dividend. This represents a c) annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Monday, December 22nd.

Insider Buying and Selling at Blackrock 2037 Municipal Target Term Trust

In related news, major shareholder Of America Corp /De/ Bank sold 1,164 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $24.56, for a total value of $28,587.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Blackrock 2037 Municipal Target Term Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in BMN. Truist Financial Corp increased its position in Blackrock 2037 Municipal Target Term Trust by 13.4% in the 2nd quarter. Truist Financial Corp now owns 24,048 shares of the company’s stock worth $592,000 after purchasing an additional 2,848 shares during the last quarter. Jacobi Capital Management LLC acquired a new position in Blackrock 2037 Municipal Target Term Trust in the first quarter worth approximately $659,000. Narwhal Capital Management bought a new position in Blackrock 2037 Municipal Target Term Trust during the third quarter valued at approximately $476,000. Wealth Enhancement Advisory Services LLC bought a new position in Blackrock 2037 Municipal Target Term Trust during the third quarter valued at approximately $289,000. Finally, Bank of America Corp DE lifted its stake in Blackrock 2037 Municipal Target Term Trust by 5.4% in the third quarter. Bank of America Corp DE now owns 104,095 shares of the company’s stock valued at $2,611,000 after acquiring an additional 5,290 shares during the last quarter.

Blackrock 2037 Municipal Target Term Trust Company Profile

BlackRock 2037 Municipal Target Term Trust (NYSE:BMN) is a closed-end management investment company sponsored by BlackRock, Inc, one of the world’s largest asset managers. The trust was established to provide investors with exposure to a diversified portfolio of U.S. municipal securities and seeks to deliver federally tax-exempt income. As a target-term fund, BMN has a predetermined termination date of January 23, 2037, at which time the trust’s assets will be liquidated and net proceeds distributed to shareholders.

The fund’s investment objective is current income exempt from regular U.S.