Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Short Interest Up 88.7% in June

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 73,600 shares, a growth of 88.7% from the May 31st total of 39,000 shares. Based on an average trading volume of 148,700 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On Blackstone Strategic Credit 2027 Term Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Eagle Bay Advisors LLC bought a new position in shares of Blackstone Strategic Credit 2027 Term Fund during the 1st quarter worth approximately $33,000. Comerica Bank boosted its stake in shares of Blackstone Strategic Credit 2027 Term Fund by 32.1% in the 1st quarter. Comerica Bank now owns 5,508 shares of the company’s stock valued at $66,000 after purchasing an additional 1,338 shares in the last quarter. CTC Alternative Strategies Ltd. bought a new stake in shares of Blackstone Strategic Credit 2027 Term Fund in the 4th quarter worth about $139,000. Perigon Wealth Management LLC acquired a new stake in shares of Blackstone Strategic Credit 2027 Term Fund during the 1st quarter worth about $151,000. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in Blackstone Strategic Credit 2027 Term Fund by 14.9% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 13,905 shares of the company’s stock valued at $153,000 after purchasing an additional 1,805 shares during the last quarter.

Blackstone Strategic Credit 2027 Term Fund Price Performance

Shares of NYSE:BGB traded up $0.02 during trading on Friday, hitting $11.89. 181,703 shares of the stock were exchanged, compared to its average volume of 151,290. The company’s fifty day simple moving average is $11.93 and its 200-day simple moving average is $11.72. Blackstone Strategic Credit 2027 Term Fund has a 1-year low of $10.47 and a 1-year high of $12.22.

Blackstone Strategic Credit 2027 Term Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 23rd will be paid a $0.101 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 10.19%. The ex-dividend date is Friday, August 23rd.

About Blackstone Strategic Credit 2027 Term Fund

Blackstone Strategic Credit 2027 Term Fund is a close ended fixed income mutual fund launched and managed by GSO / Blackstone Debt Funds Management LLC. It invests in the fixed income markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in the loans and other fixed income instruments including first- and second-lien secured loans and high-yield corporate bonds of different maturities.