BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) Stock Price Breaks Above 50-Day Moving Average – Here’s What Happened

BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ)’s share price passed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $9.62 and traded as high as $9.70. BlackRock Enhanced Equity Dividend Trust shares last traded at $9.6850, with a volume of 569,429 shares trading hands.

BlackRock Enhanced Equity Dividend Trust Stock Performance

The stock has a 50 day moving average price of $9.62 and a 200 day moving average price of $9.42.

BlackRock Enhanced Equity Dividend Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be issued a $0.0619 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Friday, December 11th.

Hedge Funds Weigh In On BlackRock Enhanced Equity Dividend Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Western Wealth Management LLC purchased a new stake in BlackRock Enhanced Equity Dividend Trust in the 1st quarter valued at about $28,000. Global Assets Advisory LLC purchased a new position in shares of BlackRock Enhanced Equity Dividend Trust in the 1st quarter worth approximately $34,000. Axiom Investment Management LLC bought a new position in shares of BlackRock Enhanced Equity Dividend Trust in the first quarter valued at approximately $39,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of BlackRock Enhanced Equity Dividend Trust in the second quarter valued at approximately $61,000. Finally, Integrated Advisors Network LLC purchased a new stake in shares of BlackRock Enhanced Equity Dividend Trust during the first quarter valued at approximately $86,000.

About BlackRock Enhanced Equity Dividend Trust

BlackRock Enhanced Equity Dividend Trust (NYSE: BDJ) is a diversified, closed-end investment company designed to provide investors with current income and gains, with long-term capital appreciation as a secondary objective. The trust invests primarily in a portfolio of dividend-paying equity securities.

To enhance the income generated by its investments, BDJ may use an options strategy that includes writing covered call options on selected portfolio holdings. This approach can generate option premiums while potentially limiting some participation in gains when the underlying securities rise significantly.

BDJ is managed by BlackRock Advisors, LLC, an affiliate of BlackRock, Inc The trust is intended to provide diversified exposure to equity markets, with investments that may include companies in the United States and other countries.