Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) Stock Falls 0.4% – Should You Sell?

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN)’s stock price traded down 0.4% during mid-day trading on Wednesday. The stock traded as low as $22.31 and last traded at $22.38. Approximately 47,628 shares changed hands during trading, an increase of 252% from the average session volume of 13,547 shares. The stock had previously closed at $22.48.

Blackrock 2037 Municipal Target Term Trust Stock Down 0.3%

The company’s 50 day moving average is $23.85 and its 200 day moving average is $25.05.

Blackrock 2037 Municipal Target Term Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be given a dividend of $0.0993 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a $1.19 dividend on an annualized basis and a yield of 5.3%.

Hedge Funds Weigh In On Blackrock 2037 Municipal Target Term Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in Blackrock 2037 Municipal Target Term Trust in the second quarter valued at about $103,000. DUTCH ASSET Corp boosted its stake in shares of Blackrock 2037 Municipal Target Term Trust by 30.3% in the first quarter. DUTCH ASSET Corp now owns 11,551 shares of the company’s stock worth $300,000 after buying an additional 2,689 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Blackrock 2037 Municipal Target Term Trust by 6.3% during the 2nd quarter. Van ECK Associates Corp now owns 36,239 shares of the company’s stock worth $931,000 after purchasing an additional 2,154 shares during the period. Bank of America Corp DE purchased a new position in Blackrock 2037 Municipal Target Term Trust in the second quarter valued at $2,962,000. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in Blackrock 2037 Municipal Target Term Trust by 0.5% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 132,064 shares of the company’s stock worth $3,394,000 after purchasing an additional 630 shares during the period.

Blackrock 2037 Municipal Target Term Trust Company Profile

BlackRock 2037 Municipal Target Term Trust (NYSE: BMN) is a closed-end management investment company sponsored and managed by BlackRock. The fund is designed to provide current income that is exempt from regular U.S. federal income tax, although some income may be subject to the alternative minimum tax or state and local taxes.

BMN invests primarily in a portfolio of municipal bonds and other municipal obligations issued by states, cities, counties, public authorities and similar governmental entities.