BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Sees Large Increase in Short Interest

BlackRock Taxable Municipal Bond Trust (NYSE:BBN) saw a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 327,206 shares, an increase of 217.8% from the July 30th total of 102,966 shares. Based on an average daily volume of 133,986 shares, the short-interest ratio is currently 2.4 days.

BlackRock Taxable Municipal Bond Trust Stock Down 0.2%

BlackRock Taxable Municipal Bond Trust stock traded down $0.03 during midday trading on Friday, hitting $15.86. 80,539 shares of the stock were exchanged, compared to its average volume of 178,308. BlackRock Taxable Municipal Bond Trust has a 52-week low of $15.47 and a 52-week high of $17.45. The business’s 50-day moving average price is $15.91 and its 200-day moving average price is $16.06.

BlackRock Taxable Municipal Bond Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.0986 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 7.5%.

Hedge Funds Weigh In On BlackRock Taxable Municipal Bond Trust

Several institutional investors have recently modified their holdings of the business. Sit Investment Associates Inc. boosted its position in BlackRock Taxable Municipal Bond Trust by 5.9% in the fourth quarter. Sit Investment Associates Inc. now owns 6,694,566 shares of the investment management company’s stock worth $109,255,000 after purchasing an additional 372,131 shares during the last quarter. Morgan Stanley increased its position in shares of BlackRock Taxable Municipal Bond Trust by 3.4% during the 4th quarter. Morgan Stanley now owns 5,213,773 shares of the investment management company’s stock valued at $85,089,000 after purchasing an additional 169,391 shares during the last quarter. Eagle Bluffs Wealth Management LLC raised its stake in shares of BlackRock Taxable Municipal Bond Trust by 4.3% during the 1st quarter. Eagle Bluffs Wealth Management LLC now owns 2,202,048 shares of the investment management company’s stock worth $35,607,000 after purchasing an additional 89,793 shares during the period. Rivernorth Capital Management LLC raised its stake in shares of BlackRock Taxable Municipal Bond Trust by 594.6% during the 2nd quarter. Rivernorth Capital Management LLC now owns 1,622,646 shares of the investment management company’s stock worth $26,238,000 after purchasing an additional 1,389,024 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of BlackRock Taxable Municipal Bond Trust by 2.4% in the 1st quarter. Bank of America Corp DE now owns 1,128,853 shares of the investment management company’s stock worth $18,254,000 after buying an additional 26,778 shares during the last quarter.

About BlackRock Taxable Municipal Bond Trust

The BlackRock Taxable Municipal Bond Trust (NYSE:BBN) is a closed-end management investment company that seeks to provide current income and preservation of capital through a diversified portfolio of taxable municipal debt securities. Advisement and portfolio management services are provided by BlackRock Advisors, LLC, leveraging the firm’s global credit research and trading capabilities to analyze risk and identify opportunities within the municipal bond sector.

Since its inception in 1989, BBN has invested primarily in investment-grade and non-investment-grade municipal obligations issued by U.S.