Short Interest in Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) Decreases By 74.9%

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) saw a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 3,732 shares, a decline of 74.9% from the May 14th total of 14,853 shares. Based on an average daily trading volume, of 8,685 shares, the days-to-cover ratio is currently 0.4 days.

Blackrock 2037 Municipal Target Term Trust Price Performance

BMN traded up $0.38 during trading on Friday, hitting $26.13. 2,469 shares of the company’s stock were exchanged, compared to its average volume of 9,207. The stock has a 50 day moving average price of $25.90 and a 200 day moving average price of $26.07. Blackrock 2037 Municipal Target Term Trust has a 1 year low of $23.96 and a 1 year high of $27.96.

Blackrock 2037 Municipal Target Term Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.0938 per share. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BMN. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Blackrock 2037 Municipal Target Term Trust during the fourth quarter worth $1,844,000. Royal Bank of Canada lifted its position in shares of Blackrock 2037 Municipal Target Term Trust by 70.7% during the fourth quarter. Royal Bank of Canada now owns 31,912 shares of the company’s stock worth $835,000 after purchasing an additional 13,212 shares in the last quarter. DUTCH ASSET Corp acquired a new position in shares of Blackrock 2037 Municipal Target Term Trust during the fourth quarter worth $232,000. UBS Group AG lifted its position in shares of Blackrock 2037 Municipal Target Term Trust by 11.7% during the third quarter. UBS Group AG now owns 78,694 shares of the company’s stock worth $1,974,000 after purchasing an additional 8,216 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Blackrock 2037 Municipal Target Term Trust by 6.1% during the first quarter. Bank of America Corp DE now owns 122,544 shares of the company’s stock worth $3,179,000 after purchasing an additional 7,029 shares in the last quarter.

Blackrock 2037 Municipal Target Term Trust Company Profile

BlackRock 2037 Municipal Target Term Trust (NYSE:BMN) is a closed-end management investment company sponsored by BlackRock, Inc, one of the world’s largest asset managers. The trust was established to provide investors with exposure to a diversified portfolio of U.S. municipal securities and seeks to deliver federally tax-exempt income. As a target-term fund, BMN has a predetermined termination date of January 23, 2037, at which time the trust’s assets will be liquidated and net proceeds distributed to shareholders.

The fund’s investment objective is current income exempt from regular U.S.