Short Interest in BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Grows By 217.8%

BlackRock Taxable Municipal Bond Trust (NYSE:BBN) was the recipient of a significant increase in short interest in August. As of August 14th, there was short interest totaling 327,206 shares, an increase of 217.8% from the July 30th total of 102,966 shares. Based on an average trading volume of 133,986 shares, the days-to-cover ratio is presently 2.4 days.

Institutional Investors Weigh In On BlackRock Taxable Municipal Bond Trust

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Rivernorth Capital Management LLC increased its position in shares of BlackRock Taxable Municipal Bond Trust by 594.6% in the 2nd quarter. Rivernorth Capital Management LLC now owns 1,622,646 shares of the investment management company’s stock valued at $26,238,000 after acquiring an additional 1,389,024 shares during the period. MGO One Seven LLC lifted its position in BlackRock Taxable Municipal Bond Trust by 12.2% during the 2nd quarter. MGO One Seven LLC now owns 19,868 shares of the investment management company’s stock worth $321,000 after acquiring an additional 2,163 shares during the period. Noble Wealth Management PBC grew its stake in BlackRock Taxable Municipal Bond Trust by 2.6% during the 2nd quarter. Noble Wealth Management PBC now owns 75,712 shares of the investment management company’s stock valued at $1,224,000 after purchasing an additional 1,940 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of BlackRock Taxable Municipal Bond Trust by 12.5% in the first quarter. NewEdge Advisors LLC now owns 48,284 shares of the investment management company’s stock valued at $781,000 after purchasing an additional 5,363 shares during the period. Finally, Western Wealth Management LLC purchased a new position in shares of BlackRock Taxable Municipal Bond Trust in the first quarter worth about $49,000.

BlackRock Taxable Municipal Bond Trust Stock Performance

Shares of BlackRock Taxable Municipal Bond Trust stock traded down $0.03 during midday trading on Friday, hitting $15.86. The company had a trading volume of 80,539 shares, compared to its average volume of 178,308. The company has a fifty day simple moving average of $15.92 and a 200 day simple moving average of $16.06. BlackRock Taxable Municipal Bond Trust has a 12-month low of $15.47 and a 12-month high of $17.45.

BlackRock Taxable Municipal Bond Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.0986 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 7.5%.

About BlackRock Taxable Municipal Bond Trust

The BlackRock Taxable Municipal Bond Trust (NYSE:BBN) is a closed-end management investment company that seeks to provide current income and preservation of capital through a diversified portfolio of taxable municipal debt securities. Advisement and portfolio management services are provided by BlackRock Advisors, LLC, leveraging the firm’s global credit research and trading capabilities to analyze risk and identify opportunities within the municipal bond sector.

Since its inception in 1989, BBN has invested primarily in investment-grade and non-investment-grade municipal obligations issued by U.S.