BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Shares Cross Below Fifty Day Moving Average – Here’s Why

BlackRock Taxable Municipal Bond Trust (NYSE:BBN)’s share price passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $14.78 and traded as low as $14.55. BlackRock Taxable Municipal Bond Trust shares last traded at $14.5970, with a volume of 372,102 shares.

BlackRock Taxable Municipal Bond Trust Stock Performance

The company’s 50 day simple moving average is $14.73 and its two-hundred day simple moving average is $15.73.

BlackRock Taxable Municipal Bond Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be given a dividend of $0.0986 per share. The ex-dividend date is Friday, December 11th. This represents a $1.18 dividend on an annualized basis and a yield of 8.3%.

Hedge Funds Weigh In On BlackRock Taxable Municipal Bond Trust

Several institutional investors have recently bought and sold shares of the business. Rivernorth Capital Management LLC raised its holdings in shares of BlackRock Taxable Municipal Bond Trust by 594.6% in the second quarter. Rivernorth Capital Management LLC now owns 1,622,646 shares of the investment management company’s stock valued at $26,238,000 after buying an additional 1,389,024 shares during the last quarter. Bank of America Corp DE increased its position in BlackRock Taxable Municipal Bond Trust by 2.4% in the 1st 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 acquiring an additional 26,778 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of BlackRock Taxable Municipal Bond Trust by 3.0% in the third quarter. Benjamin Edwards Inc. now owns 151,154 shares of the investment management company’s stock worth $2,177,000 after acquiring an additional 4,470 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of BlackRock Taxable Municipal Bond Trust by 2.2% during the second quarter. Envestnet Asset Management Inc. now owns 132,763 shares of the investment management company’s stock worth $2,147,000 after purchasing an additional 2,892 shares in the last quarter. Finally, Riverbridge Partners LLC lifted its position in shares of BlackRock Taxable Municipal Bond Trust by 3.0% during the third quarter. Riverbridge Partners LLC now owns 124,509 shares of the investment management company’s stock worth $1,793,000 after purchasing an additional 3,656 shares in the last quarter.

About BlackRock Taxable Municipal Bond Trust

BlackRock Taxable Municipal Bond Trust (NYSE: BBN) is a closed-end investment fund managed by BlackRock Advisors, LLC. The trust seeks to provide current income by investing primarily in taxable municipal bonds and other municipal obligations issued by states, cities, counties, and related governmental entities in the United States. The fund’s portfolio may include Build America Bonds and other taxable municipal securities that finance public infrastructure and services, such as transportation, education, utilities, and healthcare facilities.