Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB)’s share price crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $11.12 and traded as high as $11.18. Blackstone Strategic Credit 2027 Term Fund shares last traded at $11.1440, with a volume of 166,313 shares trading hands.

Blackstone Strategic Credit 2027 Term Fund Price Performance

The company has a fifty day moving average price of $11.12 and a two-hundred day moving average price of $11.29.

Blackstone Strategic Credit 2027 Term Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be paid a $0.0740 dividend. The ex-dividend date is Friday, November 20th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 8.0%.

Institutional Trading of Blackstone Strategic Credit 2027 Term Fund

Institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp increased its position in shares of Blackstone Strategic Credit 2027 Term Fund by 8.7% during the 3rd quarter. Fifth Third Bancorp now owns 12,241 shares of the company’s stock valued at $138,000 after purchasing an additional 984 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Blackstone Strategic Credit 2027 Term Fund by 2.9% during the third quarter. Oppenheimer & Co. Inc. now owns 62,469 shares of the company’s stock worth $702,000 after purchasing an additional 1,777 shares during the last quarter. Robbins Farley grew its holdings in shares of Blackstone Strategic Credit 2027 Term Fund by 0.9% in the 3rd quarter. Robbins Farley now owns 244,024 shares of the company’s stock worth $2,743,000 after acquiring an additional 2,067 shares during the period. Jacobi Capital Management LLC acquired a new stake in Blackstone Strategic Credit 2027 Term Fund during the 3rd quarter worth approximately $33,000. Finally, Calamos Advisors LLC lifted its position in shares of Blackstone Strategic Credit 2027 Term Fund by 13.5% in the 1st quarter. Calamos Advisors LLC now owns 34,943 shares of the company’s stock worth $390,000 after buying an additional 4,160 shares during the last quarter.

Blackstone Strategic Credit 2027 Term Fund Company Profile

Blackstone Strategic Credit 2027 Term Fund (NYSE: BGB) is a publicly traded, closed-end investment fund managed by an affiliate of Blackstone. The fund seeks to provide current income and total return by investing primarily in credit-related assets, including senior secured loans, other corporate loans, below-investment-grade bonds and structured credit investments.

The fund may invest across a range of industries and geographies, with an emphasis on the United States and other developed credit markets.