NINE MASTS CAPITAL Ltd Reduces Stock Position in BlackRock Taxable Municipal Bond Trust (NYSE:BBN)

NINE MASTS CAPITAL Ltd cut its stake in BlackRock Taxable Municipal Bond Trust (NYSE:BBN) by 15.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 122,296 shares of the investment management company’s stock after selling 21,714 shares during the quarter. NINE MASTS CAPITAL Ltd’s holdings in BlackRock Taxable Municipal Bond Trust were worth $2,000,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BBN. First Foundation Advisors purchased a new stake in shares of BlackRock Taxable Municipal Bond Trust in the second quarter worth about $642,000. Wolverine Asset Management LLC raised its position in shares of BlackRock Taxable Municipal Bond Trust by 678.7% in the second quarter. Wolverine Asset Management LLC now owns 30,369 shares of the investment management company’s stock worth $497,000 after buying an additional 26,469 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in BlackRock Taxable Municipal Bond Trust during the second quarter valued at $230,000. Focused Wealth Management Inc increased its stake in BlackRock Taxable Municipal Bond Trust by 5.6% in the 2nd quarter. Focused Wealth Management Inc now owns 565,574 shares of the investment management company’s stock worth $9,247,000 after acquiring an additional 30,164 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC raised its holdings in shares of BlackRock Taxable Municipal Bond Trust by 168.7% in the 2nd quarter. Bryn Mawr Capital Management LLC now owns 15,625 shares of the investment management company’s stock valued at $259,000 after acquiring an additional 9,809 shares in the last quarter.

BlackRock Taxable Municipal Bond Trust Stock Up 1.1 %

Shares of BBN opened at $18.23 on Thursday. BlackRock Taxable Municipal Bond Trust has a 1-year low of $14.33 and a 1-year high of $18.34. The firm’s 50 day simple moving average is $17.17 and its 200 day simple moving average is $16.43.

BlackRock Taxable Municipal Bond Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.0929 per share. The ex-dividend date is Monday, September 16th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.12%.

BlackRock Taxable Municipal Bond Trust Profile

BlackRock Taxable Municipal Bond Trust is a closed-ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in the fixed income markets of the United States. It primarily invests in taxable municipal securities, which include Build America Bonds.