Short Interest in BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Grows By 55.9%

BlackRock Taxable Municipal Bond Trust (NYSE:BBN) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 102,966 shares, an increase of 55.9% from the July 15th total of 66,063 shares. Based on an average trading volume of 96,873 shares, the days-to-cover ratio is currently 1.1 days.

BlackRock Taxable Municipal Bond Trust Stock Performance

NYSE:BBN opened at $15.73 on Tuesday. BlackRock Taxable Municipal Bond Trust has a 12-month low of $15.47 and a 12-month high of $17.45. The stock’s fifty day simple moving average is $15.95 and its 200-day simple moving average is $16.08.

BlackRock Taxable Municipal Bond Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.0986 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 7.5%.

Hedge Funds Weigh In On BlackRock Taxable Municipal Bond Trust

Institutional investors have recently modified their holdings of the business. Sit Investment Associates Inc. lifted its stake in BlackRock Taxable Municipal Bond Trust by 5.9% in the fourth quarter. Sit Investment Associates Inc. now owns 6,694,566 shares of the investment management company’s stock valued at $109,255,000 after buying an additional 372,131 shares in the last quarter. Morgan Stanley boosted its stake in shares of BlackRock Taxable Municipal Bond Trust by 3.4% during the 4th quarter. Morgan Stanley now owns 5,213,773 shares of the investment management company’s stock worth $85,089,000 after buying an additional 169,391 shares during the last quarter. Eagle Bluffs Wealth Management LLC boosted its position in BlackRock Taxable Municipal Bond Trust by 4.3% during the first quarter. Eagle Bluffs Wealth Management LLC now owns 2,202,048 shares of the investment management company’s stock valued at $35,607,000 after purchasing an additional 89,793 shares during the last quarter. Bank of America Corp DE grew its stake in shares of BlackRock Taxable Municipal Bond Trust by 2.4% in the first quarter. Bank of America Corp DE now owns 1,128,853 shares of the investment management company’s stock valued at $18,254,000 after buying an additional 26,778 shares in the last quarter. Finally, Raymond James Financial Inc. grew its position in shares of BlackRock Taxable Municipal Bond Trust by 4.4% in the 3rd quarter. Raymond James Financial Inc. now owns 938,902 shares of the investment management company’s stock valued at $15,586,000 after acquiring an additional 39,843 shares during the period.

About BlackRock Taxable Municipal Bond Trust

The BlackRock Taxable Municipal Bond Trust (NYSE:BBN) is a closed-end management investment company that seeks to provide current income and preservation of capital through a diversified portfolio of taxable municipal debt securities. Advisement and portfolio management services are provided by BlackRock Advisors, LLC, leveraging the firm’s global credit research and trading capabilities to analyze risk and identify opportunities within the municipal bond sector.

Since its inception in 1989, BBN has invested primarily in investment-grade and non-investment-grade municipal obligations issued by U.S.