Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) Short Interest Up 62.7% in October

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 12,200 shares, an increase of 62.7% from the October 15th total of 7,500 shares. Based on an average daily trading volume, of 13,300 shares, the short-interest ratio is currently 0.9 days.

Blackrock 2037 Municipal Target Term Trust Stock Performance

NYSE:BMN opened at $25.15 on Friday. The business has a fifty day moving average price of $25.12 and a 200-day moving average price of $24.82. Blackrock 2037 Municipal Target Term Trust has a one year low of $23.35 and a one year high of $26.14.

Blackrock 2037 Municipal Target Term Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be given a dividend of $0.094 per share. This is a boost from Blackrock 2037 Municipal Target Term Trust’s previous monthly dividend of $0.09. This represents a $1.13 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date is Friday, November 15th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BMN. Wealth Enhancement Advisory Services LLC lifted its holdings in Blackrock 2037 Municipal Target Term Trust by 52.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,701 shares of the company’s stock valued at $413,000 after purchasing an additional 5,730 shares in the last quarter. Commonwealth Equity Services LLC bought a new stake in shares of Blackrock 2037 Municipal Target Term Trust during the 2nd quarter valued at $493,000. Dorsey & Whitney Trust CO LLC purchased a new position in shares of Blackrock 2037 Municipal Target Term Trust during the 2nd quarter valued at $222,000. Truist Financial Corp bought a new position in Blackrock 2037 Municipal Target Term Trust in the 2nd quarter worth $210,000. Finally, Van ECK Associates Corp boosted its holdings in Blackrock 2037 Municipal Target Term Trust by 12.3% in the 3rd quarter. Van ECK Associates Corp now owns 35,136 shares of the company’s stock worth $880,000 after buying an additional 3,858 shares during the period.

About Blackrock 2037 Municipal Target Term Trust

Blackrock 2037 Municipal Target Term Trust is an close-ended fixed income mutual fund launched by Blackrock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in fixed income markets. The fund primarily invests in n investment grade municipal securities that are rated BBB- or above by S&P and Fitch or Baa3 or above by Moody's.