BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Share Price Breaks Below 50-Day Moving Average – What’s Next?

BlackRock Taxable Municipal Bond Trust (NYSE:BBN) crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $14.78 and traded as low as $14.55. BlackRock Taxable Municipal Bond Trust shares last traded at $14.5970, with a volume of 372,102 shares changing hands.

BlackRock Taxable Municipal Bond Trust Stock Performance

The stock’s 50 day simple moving average is $14.78 and its 200-day simple moving average is $15.75.

BlackRock Taxable Municipal Bond Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be paid a $0.0986 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $1.18 annualized dividend and a dividend yield of 8.1%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BBN. PNC Financial Services Group Inc. acquired a new stake in BlackRock Taxable Municipal Bond Trust during the 1st quarter worth approximately $39,000. Western Wealth Management LLC purchased a new position in BlackRock Taxable Municipal Bond Trust in the 1st quarter valued at approximately $49,000. Farther Finance Advisors LLC boosted its position in BlackRock Taxable Municipal Bond Trust by 26.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 3,983 shares of the investment management company’s stock valued at $57,000 after buying an additional 833 shares during the period. Arkadios Wealth Advisors purchased a new position in BlackRock Taxable Municipal Bond Trust in the 1st quarter valued at approximately $173,000. Finally, Nwam LLC acquired a new position in shares of BlackRock Taxable Municipal Bond Trust in the first quarter worth $178,000.

BlackRock Taxable Municipal Bond Trust Company Profile

BlackRock Taxable Municipal Bond Trust (NYSE: BBN) is a closed-end investment fund managed by BlackRock Advisors, LLC. The trust seeks to provide current income by investing primarily in taxable municipal bonds and other municipal obligations issued by states, cities, counties, and related governmental entities in the United States. The fund’s portfolio may include Build America Bonds and other taxable municipal securities that finance public infrastructure and services, such as transportation, education, utilities, and healthcare facilities.