BlackRock Core Bond Trust (NYSE:BHK) Share Price Passes Below 50 Day Moving Average – Should You Sell?

BlackRock Core Bond Trust (NYSE:BHK)’s share price passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $9.04 and traded as low as $9.00. BlackRock Core Bond Trust shares last traded at $9.0850, with a volume of 211,687 shares trading hands.

BlackRock Core Bond Trust Stock Performance

The company’s 50 day moving average is $9.04 and its 200-day moving average is $9.31.

BlackRock Core Bond Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.0746 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Trading of BlackRock Core Bond Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Turim 21 Investimentos Ltda. acquired a new position in BlackRock Core Bond Trust during the 3rd quarter worth approximately $31,000. Kestra Advisory Services LLC bought a new stake in shares of BlackRock Core Bond Trust during the fourth quarter valued at approximately $34,000. Axiom Investment Management LLC acquired a new position in shares of BlackRock Core Bond Trust during the first quarter worth approximately $35,000. CIBC Private Wealth Group LLC acquired a new position in shares of BlackRock Core Bond Trust during the fourth quarter worth approximately $37,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of BlackRock Core Bond Trust by 120.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,488 shares of the investment management company’s stock worth $50,000 after purchasing an additional 3,000 shares in the last quarter.

BlackRock Core Bond Trust Company Profile

BlackRock Core Bond Trust (NYSE: BHK) is a closed-end management investment company that seeks to provide shareholders with a high level of current income, consistent with the preservation of capital. The trust primarily invests in a diversified portfolio of investment-grade fixed-income securities, including U.S. government and agency obligations, corporate bonds, mortgage- and asset-backed securities, and other debt instruments. The fund may employ leverage to enhance its income-generating potential.

Since its inception in 2008, BHK has been managed by a dedicated team of fixed-income professionals at BlackRock Advisors, drawing on the firm’s global research capabilities and risk-management platform.