BlackRock Core Bond Trust (NYSE:BHK) Stock Price Passes Above 50 Day Moving Average – Should You Sell?

BlackRock Core Bond Trust (NYSE:BHK) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $9.01 and traded as high as $9.03. BlackRock Core Bond Trust shares last traded at $8.9850, with a volume of 566,357 shares trading hands.

BlackRock Core Bond Trust Trading Up 0.6%

The firm has a fifty day moving average of $9.01 and a 200 day moving average of $9.20.

BlackRock Core Bond Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.0746 per share. This represents a c) annualized dividend and a dividend yield of 9.9%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Trading of BlackRock Core Bond Trust

A number of hedge funds have recently added to or reduced their stakes in BHK. Royal Bank of Canada raised its position in shares of BlackRock Core Bond Trust by 1.2% in the first quarter. Royal Bank of Canada now owns 94,643 shares of the investment management company’s stock worth $1,027,000 after acquiring an additional 1,101 shares during the period. Equitable Holdings Inc. grew its position in shares of BlackRock Core Bond Trust by 14.9% during the 4th quarter. Equitable Holdings Inc. now owns 14,092 shares of the investment management company’s stock valued at $135,000 after acquiring an additional 1,827 shares during the period. Comerica Bank grew its position in shares of BlackRock Core Bond Trust by 2.2% during the 3rd quarter. Comerica Bank now owns 84,816 shares of the investment management company’s stock valued at $843,000 after acquiring an additional 1,847 shares during the period. Marex Group plc increased its stake in shares of BlackRock Core Bond Trust by 10.7% in the 4th quarter. Marex Group plc now owns 22,901 shares of the investment management company’s stock valued at $220,000 after purchasing an additional 2,209 shares in the last quarter. Finally, Eclectic Associates Inc. ADV increased its stake in shares of BlackRock Core Bond Trust by 2.8% in the 2nd quarter. Eclectic Associates Inc. ADV now owns 89,517 shares of the investment management company’s stock valued at $821,000 after purchasing an additional 2,451 shares in the last quarter.

About BlackRock Core Bond Trust

BlackRock Core Bond Trust (NYSE: BHK) is a closed-end management investment company that seeks to provide shareholders with a high level of current income, consistent with the preservation of capital. The trust primarily invests in a diversified portfolio of investment-grade fixed-income securities, including U.S. government and agency obligations, corporate bonds, mortgage- and asset-backed securities, and other debt instruments. The fund may employ leverage to enhance its income-generating potential.

Since its inception in 2008, BHK has been managed by a dedicated team of fixed-income professionals at BlackRock Advisors, drawing on the firm’s global research capabilities and risk-management platform.