Short Interest in BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Rises By 75.3%

BlackRock Taxable Municipal Bond Trust (NYSE:BBN) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 182,700 shares, an increase of 75.3% from the September 15th total of 104,200 shares. Based on an average daily trading volume, of 272,600 shares, the short-interest ratio is currently 0.7 days.

Institutional Trading of BlackRock Taxable Municipal Bond Trust

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fairscale Capital LLC purchased a new stake in shares of BlackRock Taxable Municipal Bond Trust during the second quarter valued at $31,000. Fortis Group Advisors LLC boosted its stake in shares of BlackRock Taxable Municipal Bond Trust by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 2,000 shares of the investment management company’s stock worth $33,000 after acquiring an additional 1,000 shares in the last quarter. Tortoise Investment Management LLC raised its position in shares of BlackRock Taxable Municipal Bond Trust by 332.0% during the 4th quarter. Tortoise Investment Management LLC now owns 2,635 shares of the investment management company’s stock worth $43,000 after purchasing an additional 2,025 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of BlackRock Taxable Municipal Bond Trust during the 2nd quarter worth about $102,000. Finally, Miracle Mile Advisors LLC acquired a new position in shares of BlackRock Taxable Municipal Bond Trust during the 3rd quarter worth about $178,000.

BlackRock Taxable Municipal Bond Trust Price Performance

NYSE:BBN traded up $0.06 on Friday, reaching $17.22. 210,188 shares of the company’s stock traded hands, compared to its average volume of 231,135. BlackRock Taxable Municipal Bond Trust has a 12 month low of $14.33 and a 12 month high of $18.42. The stock has a 50-day simple moving average of $17.70 and a 200-day simple moving average of $16.63.

BlackRock Taxable Municipal Bond Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.0929 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.11 annualized dividend and a dividend yield of 6.47%.

About BlackRock Taxable Municipal Bond Trust

BlackRock Taxable Municipal Bond Trust is a closed-ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in the fixed income markets of the United States. It primarily invests in taxable municipal securities, which include Build America Bonds.