Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Sees Significant Increase in Short Interest

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 88,433 shares, an increase of 97.4% from the December 31st total of 44,804 shares. Based on an average daily volume of 127,539 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily volume of 127,539 shares, the days-to-cover ratio is presently 0.7 days.

Blackstone Strategic Credit 2027 Term Fund Price Performance

BGB stock traded down $0.04 during trading on Friday, reaching $11.77. 92,413 shares of the stock were exchanged, compared to its average volume of 124,186. The business has a 50 day moving average price of $11.86 and a 200-day moving average price of $12.07. Blackstone Strategic Credit 2027 Term Fund has a 1 year low of $10.47 and a 1 year high of $12.65.

Blackstone Strategic Credit 2027 Term Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 20th will be paid a $0.077 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a c) annualized dividend and a dividend yield of 7.9%.

Hedge Funds Weigh In On Blackstone Strategic Credit 2027 Term Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BGB. Comerica Bank grew its position in Blackstone Strategic Credit 2027 Term Fund by 32.9% in the 4th quarter. Comerica Bank now owns 10,478 shares of the company’s stock valued at $123,000 after buying an additional 2,595 shares during the last quarter. Calamos Advisors LLC raised its holdings in Blackstone Strategic Credit 2027 Term Fund by 32.1% during the fourth quarter. Calamos Advisors LLC now owns 30,783 shares of the company’s stock worth $363,000 after purchasing an additional 7,488 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in shares of Blackstone Strategic Credit 2027 Term Fund during the 4th quarter worth $33,000. Robbins Farley lifted its holdings in shares of Blackstone Strategic Credit 2027 Term Fund by 7.1% in the fourth quarter. Robbins Farley now owns 184,871 shares of the company’s stock valued at $2,178,000 after purchasing an additional 12,179 shares in the last quarter. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of Blackstone Strategic Credit 2027 Term Fund during the 4th quarter worth approximately $135,000.

About Blackstone Strategic Credit 2027 Term Fund

Blackstone Strategic Credit 2027 Term Fund (NYSE: BGB) is a closed-end management investment company organized as an interval fund, designed to provide investors with exposure to a diversified portfolio of credit instruments. The fund commenced operations in late 2020 and is structured with a defined term ending in 2027, at which point it intends to liquidate its assets and distribute proceeds to shareholders. As an interval fund, BGB offers limited redemption opportunities on a quarterly basis, allowing for greater investment flexibility while maintaining portfolio stability.

The fund’s primary business activity involves investing across the credit spectrum, including senior secured loans, high-yield and investment-grade corporate bonds, structured credit, and direct lending opportunities.