BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Share Price Crosses Above 50-Day Moving Average – Here’s Why

BlackRock Taxable Municipal Bond Trust (NYSE:BBN) shares passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $14.90 and traded as high as $14.97. BlackRock Taxable Municipal Bond Trust shares last traded at $14.91, with a volume of 303,599 shares changing hands.

BlackRock Taxable Municipal Bond Trust Stock Performance

The stock’s 50-day simple moving average is $14.90 and its 200 day simple moving average is $15.79.

BlackRock Taxable Municipal Bond Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be paid a dividend of $0.0986 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date is Friday, December 11th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC purchased a new stake in shares of BlackRock Taxable Municipal Bond Trust in the first quarter valued at approximately $3,778,000. Petra Financial Advisors Inc. purchased a new position in BlackRock Taxable Municipal Bond Trust in the first quarter worth $1,154,000. Fifth Third Bancorp raised its position in BlackRock Taxable Municipal Bond Trust by 1,019.8% in the first quarter. Fifth Third Bancorp now owns 11,198 shares of the investment management company’s stock worth $181,000 after acquiring an additional 10,198 shares in the last quarter. Kestra Advisory Services LLC raised its position in BlackRock Taxable Municipal Bond Trust by 33.9% in the first quarter. Kestra Advisory Services LLC now owns 19,209 shares of the investment management company’s stock worth $311,000 after acquiring an additional 4,864 shares in the last quarter. Finally, PNC Financial Services Group Inc. purchased a new position in BlackRock Taxable Municipal Bond Trust in the first quarter worth $39,000.

About BlackRock Taxable Municipal Bond Trust

BlackRock Taxable Municipal Bond Trust (NYSE: BBN) is a closed-end investment fund managed by BlackRock Advisors, LLC. The trust seeks to provide current income by investing primarily in taxable municipal bonds and other municipal obligations issued by states, cities, counties, and related governmental entities in the United States.

The fund’s portfolio may include Build America Bonds and other taxable municipal securities that finance public infrastructure and services, such as transportation, education, utilities, and healthcare facilities.