BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) Sees Significant Growth in Short Interest

BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 19,700 shares, an increase of 44.9% from the February 13th total of 13,600 shares. Based on an average trading volume of 42,900 shares, the days-to-cover ratio is presently 0.5 days.

BlackRock Long-Term Municipal Advantage Trust Price Performance

NYSE BTA traded down $0.01 during trading hours on Monday, hitting $9.73. The company’s stock had a trading volume of 9,557 shares, compared to its average volume of 31,276. BlackRock Long-Term Municipal Advantage Trust has a 52 week low of $9.48 and a 52 week high of $11.10. The company’s 50-day simple moving average is $9.87 and its two-hundred day simple moving average is $10.24.

BlackRock Long-Term Municipal Advantage Trust Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.0495 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.59 annualized dividend and a dividend yield of 6.11%.

Hedge Funds Weigh In On BlackRock Long-Term Municipal Advantage Trust

Several hedge funds have recently modified their holdings of BTA. Citadel Advisors LLC bought a new position in shares of BlackRock Long-Term Municipal Advantage Trust during the 4th quarter worth approximately $106,000. Landscape Capital Management L.L.C. bought a new position in shares of BlackRock Long-Term Municipal Advantage Trust during the 3rd quarter worth approximately $120,000. Concorde Asset Management LLC lifted its position in shares of BlackRock Long-Term Municipal Advantage Trust by 12.4% during the 3rd quarter. Concorde Asset Management LLC now owns 12,577 shares of the financial services provider’s stock worth $135,000 after buying an additional 1,392 shares in the last quarter. Natural Investments LLC bought a new stake in shares of BlackRock Long-Term Municipal Advantage Trust in the 4th quarter worth approximately $156,000. Finally, Stratos Investment Management LLC bought a new stake in shares of BlackRock Long-Term Municipal Advantage Trust in the 4th quarter worth approximately $163,000.

About BlackRock Long-Term Municipal Advantage Trust

BlackRock Long-Term Municipal Advantage Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets of the United States. It uses financial derivatives to invest in municipal obligations. The fund primarily invests in long-term municipal bonds with a maturity of more than ten years at the time of investment.