BlackRock Energy and Resources Trust (NYSE:BGR) Trading Up 1.2% After Dividend Announcement

BlackRock Energy and Resources Trust (NYSE:BGR) rose 1.2% during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as $16.12 and last traded at $15.9350. Approximately 69,110 shares were traded during trading, a decline of 55% from the average daily volume of 152,713 shares. The stock had previously closed at $15.75.

The newly announced dividend which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a $0.0973 dividend. This represents a c) dividend on an annualized basis and a yield of 7.3%. The ex-dividend date of this dividend is Tuesday, September 15th.

BlackRock Energy and Resources Trust Price Performance

The stock’s 50-day moving average is $16.27 and its two-hundred day moving average is $15.24.

Hedge Funds Weigh In On BlackRock Energy and Resources Trust

Hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. bought a new position in BlackRock Energy and Resources Trust in the 4th quarter worth about $27,000. Murphy & Mullick Capital Management Corp bought a new position in BlackRock Energy and Resources Trust in the 3rd quarter worth about $27,000. SHP Wealth Management bought a new position in BlackRock Energy and Resources Trust in the 4th quarter worth about $31,000. Triumph Capital Management bought a new position in BlackRock Energy and Resources Trust in the 3rd quarter worth about $33,000. Finally, EverSource Wealth Advisors LLC grew its stake in BlackRock Energy and Resources Trust by 392.2% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 5,020 shares of the company’s stock worth $68,000 after acquiring an additional 4,000 shares in the last quarter.

About BlackRock Energy and Resources Trust

BlackRock Energy and Resources Trust (NYSE: BGR) is a closed-end management investment company that seeks to provide a combination of current income and long-term capital appreciation. The trust focuses its investments primarily on equity and equity-related securities of companies engaged in the energy and natural resources sectors, including exploration, production, refining, distribution and related services.

The trust’s portfolio typically comprises common stocks, American Depositary Receipts (ADRs), master limited partnerships (MLPs) and other equity-linked instruments issued by firms operating in upstream and downstream energy markets, metals and mining, chemicals and related industries.