BlackRock Health Sciences Term Trust (NYSE:BMEZ) Sees Large Decline in Short Interest

BlackRock Health Sciences Term Trust (NYSE:BMEZ) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totaling 30,094 shares, a decline of 62.5% from the August 15th total of 80,226 shares. Based on an average trading volume of 170,903 shares, the days-to-cover ratio is currently 0.2 days.

BlackRock Health Sciences Term Trust Price Performance

NYSE:BMEZ traded down $0.15 on Monday, hitting $16.30. The company had a trading volume of 145,818 shares, compared to its average volume of 209,722. The firm has a 50 day moving average of $16.08 and a two-hundred day moving average of $15.01. BlackRock Health Sciences Term Trust has a 52 week low of $13.70 and a 52 week high of $17.25.

BlackRock Health Sciences Term Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be issued a $0.11 dividend. This represents a c) dividend on an annualized basis and a yield of 8.1%. The ex-dividend date of this dividend is Friday, December 11th.

Institutional Trading of BlackRock Health Sciences Term Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Integrated Wealth Concepts LLC acquired a new stake in BlackRock Health Sciences Term Trust during the 2nd quarter valued at approximately $46,000. Brown Lisle Cummings Inc. raised its position in shares of BlackRock Health Sciences Term Trust by 7.8% during the second quarter. Brown Lisle Cummings Inc. now owns 57,026 shares of the company’s stock worth $875,000 after purchasing an additional 4,108 shares during the period. Corient Private Wealth LP bought a new position in shares of BlackRock Health Sciences Term Trust in the second quarter valued at $467,000. Rivernorth Capital Management LLC lifted its position in BlackRock Health Sciences Term Trust by 24.8% in the 1st quarter. Rivernorth Capital Management LLC now owns 809,196 shares of the company’s stock valued at $11,620,000 after acquiring an additional 160,629 shares in the last quarter. Finally, Saba Capital Management L.P. purchased a new position in shares of BlackRock Health Sciences Term Trust during the first quarter valued at approximately $10,907,000.

About BlackRock Health Sciences Term Trust

BlackRock Health Sciences Term Trust (NYSE: BMEZ) is a closed-end management investment company organized as a Delaware statutory trust. Launched in March 2020, BMEZ seeks to provide total return through a combination of current income and capital appreciation by investing primarily in equity and equity-related securities of companies in the health sciences sector. The trust is structured with a fixed termination date in October 2030, at which time shareholders will vote on its liquidation, extension or conversion.

The fund’s investment portfolio is diversified across subsectors within health sciences, including biotechnology, pharmaceuticals, medical devices, diagnostics and healthcare services.