Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) Sees Large Growth in Short Interest

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 22,400 shares, a growth of 45.5% from the February 28th total of 15,400 shares. Based on an average daily volume of 13,300 shares, the days-to-cover ratio is currently 1.7 days.

Blackrock 2037 Municipal Target Term Trust Price Performance

Shares of NYSE BMN traded up $0.05 during trading on Friday, hitting $25.20. 672 shares of the company traded hands, compared to its average volume of 14,471. The business’s fifty day moving average is $25.37 and its 200 day moving average is $25.31. Blackrock 2037 Municipal Target Term Trust has a fifty-two week low of $23.68 and a fifty-two week high of $26.14.

Blackrock 2037 Municipal Target Term Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.0938 per share. This represents a $1.13 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date is Friday, March 14th.

Institutional Investors Weigh In On Blackrock 2037 Municipal Target Term Trust

Hedge funds have recently added to or reduced their stakes in the company. Westside Investment Management Inc. acquired a new position in shares of Blackrock 2037 Municipal Target Term Trust during the fourth quarter worth approximately $34,000. HighTower Advisors LLC raised its holdings in Blackrock 2037 Municipal Target Term Trust by 41.7% during the third quarter. HighTower Advisors LLC now owns 14,168 shares of the company’s stock worth $363,000 after buying an additional 4,168 shares during the last quarter. Truist Financial Corp raised its holdings in Blackrock 2037 Municipal Target Term Trust by 10.1% during the fourth quarter. Truist Financial Corp now owns 21,420 shares of the company’s stock worth $548,000 after buying an additional 1,958 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Blackrock 2037 Municipal Target Term Trust in the fourth quarter valued at $818,000. Finally, Noble Wealth Management PBC acquired a new position in shares of Blackrock 2037 Municipal Target Term Trust during the fourth quarter valued at about $1,586,000.

About Blackrock 2037 Municipal Target Term Trust

Blackrock 2037 Municipal Target Term Trust is an close-ended fixed income mutual fund launched by Blackrock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in fixed income markets. The fund primarily invests in n investment grade municipal securities that are rated BBB- or above by S&P and Fitch or Baa3 or above by Moody's.