BlackRock Taxable Municipal Bond Trust $BBN Shares Purchased by Rivernorth Capital Management LLC

Rivernorth Capital Management LLC grew its stake in BlackRock Taxable Municipal Bond Trust (NYSE:BBN) by 594.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,622,646 shares of the investment management company’s stock after buying an additional 1,389,024 shares during the quarter. BlackRock Taxable Municipal Bond Trust accounts for about 1.2% of Rivernorth Capital Management LLC’s portfolio, making the stock its 16th largest holding. Rivernorth Capital Management LLC’s holdings in BlackRock Taxable Municipal Bond Trust were worth $26,238,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Sit Investment Associates Inc. raised its position in shares of BlackRock Taxable Municipal Bond Trust by 5.9% in the fourth quarter. Sit Investment Associates Inc. now owns 6,694,566 shares of the investment management company’s stock worth $109,255,000 after acquiring an additional 372,131 shares during the period. Morgan Stanley increased its stake in shares of BlackRock Taxable Municipal Bond Trust by 3.4% in the 4th quarter. Morgan Stanley now owns 5,213,773 shares of the investment management company’s stock valued at $85,089,000 after purchasing an additional 169,391 shares in the last quarter. Eagle Bluffs Wealth Management LLC increased its stake in shares of BlackRock Taxable Municipal Bond Trust by 4.3% in the 1st quarter. Eagle Bluffs Wealth Management LLC now owns 2,202,048 shares of the investment management company’s stock valued at $35,607,000 after purchasing an additional 89,793 shares in the last quarter. Bank of America Corp DE raised its holdings in BlackRock Taxable Municipal Bond Trust by 2.4% in the 1st quarter. Bank of America Corp DE now owns 1,128,853 shares of the investment management company’s stock worth $18,254,000 after purchasing an additional 26,778 shares during the period. Finally, Raymond James Financial Inc. raised its holdings in BlackRock Taxable Municipal Bond Trust by 4.4% in the 3rd quarter. Raymond James Financial Inc. now owns 938,902 shares of the investment management company’s stock worth $15,586,000 after purchasing an additional 39,843 shares during the period.

BlackRock Taxable Municipal Bond Trust Trading Down 0.1%

Shares of BBN stock opened at $15.86 on Monday. BlackRock Taxable Municipal Bond Trust has a 12-month low of $15.47 and a 12-month high of $17.45. The business’s 50 day moving average is $15.91 and its two-hundred day moving average is $16.06.

BlackRock Taxable Municipal Bond Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given 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 dividend yield of 7.5%.

BlackRock Taxable Municipal Bond Trust Profile

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.