BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) Share Price Breaks Above 50-Day Moving Average – Time to Sell?

Shares of BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $9.62 and traded as high as $9.70. BlackRock Enhanced Equity Dividend Trust shares last traded at $9.6850, with a volume of 569,429 shares changing hands.

BlackRock Enhanced Equity Dividend Trust Stock Up 1.2%

The stock has a 50 day moving average price of $9.62 and a 200 day moving average price of $9.42.

BlackRock Enhanced Equity Dividend Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be issued a dividend of $0.0619 per share. This represents a $0.74 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend is Friday, December 11th.

Institutional Investors Weigh In On BlackRock Enhanced Equity Dividend Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Saxony Capital Management LLC boosted its stake in shares of BlackRock Enhanced Equity Dividend Trust by 3.6% during the 3rd quarter. Saxony Capital Management LLC now owns 43,293 shares of the investment management company’s stock worth $407,000 after acquiring an additional 1,500 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in shares of BlackRock Enhanced Equity Dividend Trust by 6.5% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 37,669 shares of the investment management company’s stock worth $360,000 after acquiring an additional 2,305 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of BlackRock Enhanced Equity Dividend Trust by 2.9% during the third quarter. Park Avenue Securities LLC now owns 83,622 shares of the investment management company’s stock worth $786,000 after purchasing an additional 2,352 shares during the period. NewEdge Advisors LLC raised its position in shares of BlackRock Enhanced Equity Dividend Trust by 2.2% during the first quarter. NewEdge Advisors LLC now owns 131,321 shares of the investment management company’s stock worth $1,132,000 after purchasing an additional 2,811 shares during the period. Finally, Private Advisor Group LLC raised its position in shares of BlackRock Enhanced Equity Dividend Trust by 6.0% during the first quarter. Private Advisor Group LLC now owns 51,494 shares of the investment management company’s stock worth $444,000 after purchasing an additional 2,913 shares during the period.

BlackRock Enhanced Equity Dividend Trust Company Profile

BlackRock Enhanced Equity Dividend Trust (NYSE: BDJ) is a diversified, closed-end investment company designed to provide investors with current income and gains, with long-term capital appreciation as a secondary objective. The trust invests primarily in a portfolio of dividend-paying equity securities.

To enhance the income generated by its investments, BDJ may use an options strategy that includes writing covered call options on selected portfolio holdings. This approach can generate option premiums while potentially limiting some participation in gains when the underlying securities rise significantly.

BDJ is managed by BlackRock Advisors, LLC, an affiliate of BlackRock, Inc The trust is intended to provide diversified exposure to equity markets, with investments that may include companies in the United States and other countries.