Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Short Interest Up 125.9% in May

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 99,687 shares, an increase of 125.9% from the April 30th total of 44,133 shares. Based on an average daily trading volume, of 133,937 shares, the days-to-cover ratio is presently 0.7 days.

Blackstone Strategic Credit 2027 Term Fund Trading Up 0.1%

BGB stock traded up $0.02 during mid-day trading on Friday, hitting $11.38. 147,370 shares of the company were exchanged, compared to its average volume of 145,869. The business has a fifty day simple moving average of $11.29 and a 200-day simple moving average of $11.55. Blackstone Strategic Credit 2027 Term Fund has a 12-month low of $10.85 and a 12-month high of $12.65.

Blackstone Strategic Credit 2027 Term Fund Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, May 29th. Shareholders of record on Thursday, May 21st were paid a dividend of $0.079 per share. This represents a c) annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend was Thursday, May 21st.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BGB. Royal Bank of Canada boosted its stake in Blackstone Strategic Credit 2027 Term Fund by 23.7% during the first quarter. Royal Bank of Canada now owns 282,388 shares of the company’s stock worth $3,411,000 after buying an additional 54,059 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Blackstone Strategic Credit 2027 Term Fund by 12.5% in the first quarter. NewEdge Advisors LLC now owns 63,189 shares of the company’s stock valued at $763,000 after purchasing an additional 7,005 shares during the period. Cetera Investment Advisers boosted its stake in shares of Blackstone Strategic Credit 2027 Term Fund by 6.7% in the second quarter. Cetera Investment Advisers now owns 28,626 shares of the company’s stock valued at $347,000 after purchasing an additional 1,791 shares during the period. Invesco Ltd. boosted its stake in shares of Blackstone Strategic Credit 2027 Term Fund by 9.4% in the second quarter. Invesco Ltd. now owns 360,715 shares of the company’s stock valued at $4,372,000 after purchasing an additional 31,042 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Blackstone Strategic Credit 2027 Term Fund by 3.9% in the second quarter. First Trust Advisors LP now owns 106,926 shares of the company’s stock valued at $1,296,000 after purchasing an additional 3,971 shares during the period.

Blackstone Strategic Credit 2027 Term Fund Company Profile

Blackstone Strategic Credit 2027 Term Fund (NYSE: BGB) is a closed-end management investment company organized as an interval fund, designed to provide investors with exposure to a diversified portfolio of credit instruments. The fund commenced operations in late 2020 and is structured with a defined term ending in 2027, at which point it intends to liquidate its assets and distribute proceeds to shareholders. As an interval fund, BGB offers limited redemption opportunities on a quarterly basis, allowing for greater investment flexibility while maintaining portfolio stability.

The fund’s primary business activity involves investing across the credit spectrum, including senior secured loans, high-yield and investment-grade corporate bonds, structured credit, and direct lending opportunities.