Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) Stock Short Interest Climbs 461.9%

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) saw a large growth in short interest during the month of October. As of October 30th, there was short interest totaling 8,248 shares, a growth of 461.9% from the October 15th total of 1,468 shares. Based on an average trading volume of 49,616 shares, the short-interest ratio is presently 0.2 days.

Blackrock 2037 Municipal Target Term Trust Price Performance

BMN traded down $0.17 during mid-day trading on Friday, reaching $23.22. 6,854 shares of the company traded hands, compared to its average volume of 15,255. Blackrock 2037 Municipal Target Term Trust has a 52-week low of $21.28 and a 52-week high of $27.96. The company’s fifty day moving average price is $23.12 and its 200-day moving average price is $25.27.

Blackrock 2037 Municipal Target Term Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 13th will be given a dividend of $0.0993 per share. This represents a $1.19 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Friday, November 13th.

Insider Buying and Selling at Blackrock 2037 Municipal Target Term Trust

In related news, major shareholder Of America Corp /De/ Bank acquired 3,070 shares of the stock in a transaction on Tuesday, October 27th. The stock was purchased at an average price of $22.98 per share, for a total transaction of $70,548.60. Following the completion of the transaction, the insider owned 3,070 shares of the company’s stock, valued at $70,548.60. This trade represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Investors Weigh In On Blackrock 2037 Municipal Target Term Trust

Large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Blackrock 2037 Municipal Target Term Trust in the second quarter valued at approximately $103,000. DUTCH ASSET Corp increased its position in shares of Blackrock 2037 Municipal Target Term Trust by 30.3% during the first quarter. DUTCH ASSET Corp now owns 11,551 shares of the company’s stock worth $300,000 after purchasing an additional 2,689 shares in the last quarter. Narwhal Capital Management purchased a new stake in Blackrock 2037 Municipal Target Term Trust during the 3rd quarter valued at approximately $336,000. Apollon Wealth Management LLC acquired a new stake in Blackrock 2037 Municipal Target Term Trust in the third quarter valued at $573,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Blackrock 2037 Municipal Target Term Trust by 6.3% in the second quarter. Van ECK Associates Corp now owns 36,239 shares of the company’s stock valued at $931,000 after purchasing an additional 2,154 shares in the last quarter.

About Blackrock 2037 Municipal Target Term Trust

BlackRock 2037 Municipal Target Term Trust (NYSE: BMN) is a closed-end management investment company advised by BlackRock Advisors, LLC. It seeks to provide current income that is exempt from regular U.S. federal income tax, consistent with its investment objectives and policies. The trust invests primarily in municipal bonds issued by U.S. states and local governments and their agencies. These bonds help fund public projects and services, and their interest may receive favorable federal tax treatment.