BlackRock Core Bond Trust (NYSE:BHK) Stock Crosses Below 50-Day Moving Average – Here’s What Happened

BlackRock Core Bond Trust (NYSE:BHK) shares crossed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $8.46 and traded as low as $8.39. BlackRock Core Bond Trust shares last traded at $8.4550, with a volume of 201,034 shares changing hands.

BlackRock Core Bond Trust Stock Performance

The stock has a 50-day moving average price of $8.46 and a 200 day moving average price of $8.99.

BlackRock Core Bond Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be issued a $0.0746 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.90 annualized dividend and a yield of 10.6%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its holdings in BlackRock Core Bond Trust by 150.7% during the 3rd quarter. HighTower Advisors LLC now owns 32,737 shares of the investment management company’s stock worth $268,000 after acquiring an additional 19,680 shares in the last quarter. Ibex Wealth Advisors increased its position in shares of BlackRock Core Bond Trust by 1.3% in the 3rd quarter. Ibex Wealth Advisors now owns 92,169 shares of the investment management company’s stock valued at $756,000 after purchasing an additional 1,170 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of BlackRock Core Bond Trust by 12.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,458,783 shares of the investment management company’s stock valued at $11,962,000 after purchasing an additional 157,482 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of BlackRock Core Bond Trust by 482.9% in the 3rd quarter. International Assets Investment Management LLC now owns 85,000 shares of the investment management company’s stock valued at $697,000 after purchasing an additional 70,418 shares in the last quarter. Finally, Uncommon Cents Investing Inc raised its holdings in shares of BlackRock Core Bond Trust by 4.2% in the 3rd quarter. Uncommon Cents Investing Inc now owns 48,831 shares of the investment management company’s stock valued at $400,000 after purchasing an additional 1,975 shares in the last quarter.

BlackRock Core Bond Trust Company Profile

BlackRock Core Bond Trust is a closed-end investment company traded on the New York Stock Exchange under the symbol BHK. The fund is managed by BlackRock Advisors and is designed to provide investors with access to a professionally managed portfolio of fixed-income investments. The trust’s primary investment objective is to seek current income, with capital appreciation as a secondary objective. Its portfolio generally consists of bonds and other debt securities, including securities issued or guaranteed by the U.S. government and its agencies, corporate bonds, mortgage-backed securities, and other fixed-income instruments.