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

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 18,400 shares, a decrease of 17.9% from the March 15th total of 22,400 shares. Based on an average daily volume of 13,200 shares, the days-to-cover ratio is currently 1.4 days.

Insider Buying and Selling

In other news, Portfolio Manager Christian Romaglino bought 1,250 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The stock was bought at an average price of $23.99 per share, with a total value of $29,987.50. Following the completion of the transaction, the portfolio manager now directly owns 4,551 shares of the company’s stock, valued at approximately $109,178.49. The trade was a 37.87 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in Blackrock 2037 Municipal Target Term Trust by 0.7% during the fourth quarter. Bank of America Corp DE now owns 132,694 shares of the company’s stock worth $3,396,000 after buying an additional 987 shares in the last quarter. Noble Wealth Management PBC purchased a new stake in Blackrock 2037 Municipal Target Term Trust in the 4th quarter worth $1,586,000. Raymond James Financial Inc. purchased a new stake in Blackrock 2037 Municipal Target Term Trust in the 4th quarter worth $818,000. Truist Financial Corp lifted 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 valued at $548,000 after purchasing an additional 1,958 shares in the last quarter. Finally, HighTower Advisors LLC lifted 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 valued at $363,000 after purchasing an additional 4,168 shares in the last quarter.

Blackrock 2037 Municipal Target Term Trust Stock Performance

Shares of Blackrock 2037 Municipal Target Term Trust stock traded down $0.05 during midday trading on Friday, hitting $23.73. The company had a trading volume of 36,150 shares, compared to its average volume of 15,054. Blackrock 2037 Municipal Target Term Trust has a 12-month low of $23.04 and a 12-month high of $26.14. The company has a fifty day simple moving average of $24.97 and a 200 day simple moving average of $25.20.

Blackrock 2037 Municipal Target Term Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a $0.0938 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $1.13 dividend on an annualized basis and a yield of 4.74%.

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.