BlackRock Energy and Resources Trust (NYSE:BGR) Shares Down 5.6% – Here’s Why

BlackRock Energy and Resources Trust (NYSE:BGR)’s share price was down 5.6% on Wednesday . The stock traded as low as $16.28 and last traded at $16.3440. Approximately 391,007 shares were traded during mid-day trading, an increase of 112% from the average daily volume of 184,510 shares. The stock had previously closed at $17.31.

BlackRock Energy and Resources Trust Trading Down 0.1%

The stock’s 50-day simple moving average is $15.74 and its 200-day simple moving average is $14.35.

BlackRock Energy and Resources Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.0973 per share. This represents a c) annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Monday, June 15th.

Insiders Place Their Bets

In other news, VP Stephen Thomas Minar acquired 4,320 shares of BlackRock Energy and Resources Trust stock in a transaction on Tuesday, February 10th. The shares were purchased at an average cost of $14.91 per share, for a total transaction of $64,411.20. Following the completion of the purchase, the vice president directly owned 4,320 shares of the company’s stock, valued at approximately $64,411.20. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Institutional Investors Weigh In On BlackRock Energy and Resources Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. bought a new stake in shares of BlackRock Energy and Resources Trust during the 4th quarter worth $27,000. Murphy & Mullick Capital Management Corp bought a new position in BlackRock Energy and Resources Trust in the third quarter valued at about $27,000. SHP Wealth Management acquired a new position in BlackRock Energy and Resources Trust during the fourth quarter worth about $31,000. Triumph Capital Management bought a new position in shares of BlackRock Energy and Resources Trust in the third quarter worth about $33,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of BlackRock Energy and Resources Trust by 392.2% in the third quarter. EverSource Wealth Advisors LLC now owns 5,020 shares of the company’s stock worth $68,000 after acquiring an additional 4,000 shares during the last quarter.

BlackRock Energy and Resources Trust Company Profile

BlackRock Energy and Resources Trust (NYSE: BGR) is a closed-end management investment company that seeks to provide a combination of current income and long-term capital appreciation. The trust focuses its investments primarily on equity and equity-related securities of companies engaged in the energy and natural resources sectors, including exploration, production, refining, distribution and related services.

The trust’s portfolio typically comprises common stocks, American Depositary Receipts (ADRs), master limited partnerships (MLPs) and other equity-linked instruments issued by firms operating in upstream and downstream energy markets, metals and mining, chemicals and related industries.