Short Interest in BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) Drops By 47.9%

BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 5,385 shares, a drop of 47.9% from the November 30th total of 10,334 shares. Based on an average trading volume of 50,462 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 50,462 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On BlackRock Long-Term Municipal Advantage Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in BTA. Wolverine Asset Management LLC increased its stake in BlackRock Long-Term Municipal Advantage Trust by 243.2% in the second quarter. Wolverine Asset Management LLC now owns 141,213 shares of the financial services provider’s stock valued at $1,295,000 after acquiring an additional 100,064 shares during the period. River Street Advisors LLC bought a new stake in shares of BlackRock Long-Term Municipal Advantage Trust in the 2nd quarter valued at approximately $173,000. Allworth Financial LP acquired a new position in shares of BlackRock Long-Term Municipal Advantage Trust in the 2nd quarter worth approximately $165,000. Susquehanna International Group LLP bought a new position in shares of BlackRock Long-Term Municipal Advantage Trust during the 3rd quarter worth approximately $124,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in BlackRock Long-Term Municipal Advantage Trust in the 1st quarter valued at $110,000.

BlackRock Long-Term Municipal Advantage Trust Stock Performance

Shares of BTA traded down $0.03 on Friday, reaching $9.35. 16,398 shares of the stock traded hands, compared to its average volume of 40,042. The stock’s 50-day moving average price is $9.46 and its 200-day moving average price is $9.28. BlackRock Long-Term Municipal Advantage Trust has a 12 month low of $8.73 and a 12 month high of $10.15.

BlackRock Long-Term Municipal Advantage Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be issued a $0.0495 dividend. This represents a c) annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Monday, December 22nd.

About BlackRock Long-Term Municipal Advantage Trust

BlackRock Long-Term Municipal Advantage Trust (NYSE: BTA) is a closed-end management investment company that seeks to provide current income exempt from federal income taxes. Since its inception in December 2009, the trust has offered investors exposure to a diversified portfolio of long-term municipal securities, with the goal of delivering favorable risk-adjusted returns through a focus on tax-exempt income.

The trust’s investment strategy centers on purchasing investment-grade municipal bonds carrying longer maturities, which historically have offered higher yields compared with shorter-duration issues.