BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) Short Interest Up 132.1% in October

BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 45,500 shares, an increase of 132.1% from the September 30th total of 19,600 shares. Based on an average trading volume of 51,700 shares, the days-to-cover ratio is presently 0.9 days.

BlackRock Investment Quality Municipal Trust Price Performance

NYSE BKN opened at $12.59 on Friday. The firm has a 50-day moving average price of $12.71 and a two-hundred day moving average price of $12.27. BlackRock Investment Quality Municipal Trust has a 12-month low of $9.62 and a 12-month high of $13.16.

BlackRock Investment Quality Municipal Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be paid a $0.057 dividend. This represents a $0.68 annualized dividend and a dividend yield of 5.43%. The ex-dividend date is Tuesday, October 15th.

Hedge Funds Weigh In On BlackRock Investment Quality Municipal Trust

A number of hedge funds have recently added to or reduced their stakes in BKN. Simplicity Wealth LLC acquired a new stake in shares of BlackRock Investment Quality Municipal Trust during the 2nd quarter worth $185,000. Koss Olinger Consulting LLC acquired a new stake in BlackRock Investment Quality Municipal Trust during the second quarter worth about $180,000. Koshinski Asset Management Inc. increased its holdings in BlackRock Investment Quality Municipal Trust by 63.3% in the 3rd quarter. Koshinski Asset Management Inc. now owns 29,164 shares of the company’s stock valued at $377,000 after buying an additional 11,305 shares during the period. Primoris Wealth Advisors LLC raised its position in shares of BlackRock Investment Quality Municipal Trust by 22.5% in the 2nd quarter. Primoris Wealth Advisors LLC now owns 54,500 shares of the company’s stock valued at $652,000 after buying an additional 10,000 shares in the last quarter. Finally, Robinson Capital Management LLC lifted its holdings in shares of BlackRock Investment Quality Municipal Trust by 3.9% during the 1st quarter. Robinson Capital Management LLC now owns 262,334 shares of the company’s stock worth $3,156,000 after acquiring an additional 9,824 shares during the period. Institutional investors own 26.67% of the company’s stock.

BlackRock Investment Quality Municipal Trust Company Profile

BlackRock Investment Quality Municipal Trust Inc is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade municipal bonds municipal obligations exempt from federal income taxes.