BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) Sees Large Growth in Short Interest

BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 20,200 shares, a growth of 6.9% from the June 15th total of 18,900 shares. Based on an average daily volume of 35,600 shares, the days-to-cover ratio is currently 0.6 days.

Hedge Funds Weigh In On BlackRock Investment Quality Municipal Trust

Hedge funds have recently bought and sold shares of the business. Round Rock Advisors LLC bought a new position in BlackRock Investment Quality Municipal Trust during the fourth quarter worth about $129,000. Seed Wealth Management Inc. bought a new position in BlackRock Investment Quality Municipal Trust during the fourth quarter worth about $143,000. Beacon Pointe Advisors LLC bought a new position in BlackRock Investment Quality Municipal Trust during the fourth quarter worth about $145,000. Simplicity Wealth LLC bought a new position in BlackRock Investment Quality Municipal Trust during the second quarter worth about $185,000. Finally, Raymond James & Associates increased its position in BlackRock Investment Quality Municipal Trust by 50.5% during the fourth quarter. Raymond James & Associates now owns 17,785 shares of the company’s stock worth $211,000 after acquiring an additional 5,964 shares during the period. 26.67% of the stock is owned by institutional investors.

BlackRock Investment Quality Municipal Trust Price Performance

Shares of BKN opened at $11.97 on Friday. BlackRock Investment Quality Municipal Trust has a fifty-two week low of $9.57 and a fifty-two week high of $12.69. The company’s 50-day moving average is $11.96 and its 200-day moving average is $12.01.

BlackRock Investment Quality Municipal Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, August 1st. Investors of record on Monday, July 15th will be given a dividend of $0.057 per share. This represents a $0.68 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date is Monday, July 15th.

About BlackRock Investment Quality Municipal Trust

BlackRock Investment Quality Municipal Trust Inc is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade municipal bonds municipal obligations exempt from federal income taxes.