Short Interest in BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Rises By 75.3%

BlackRock Taxable Municipal Bond Trust (NYSE:BBN) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 182,700 shares, a growth of 75.3% from the September 15th total of 104,200 shares. Based on an average daily volume of 272,600 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Trading of BlackRock Taxable Municipal Bond Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the company. First National Bank Sioux Falls raised its position in shares of BlackRock Taxable Municipal Bond Trust by 5.8% in the first quarter. First National Bank Sioux Falls now owns 61,812 shares of the investment management company’s stock valued at $1,010,000 after buying an additional 3,366 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of BlackRock Taxable Municipal Bond Trust in the fourth quarter valued at $285,000. Brookstone Capital Management purchased a new position in shares of BlackRock Taxable Municipal Bond Trust in the second quarter valued at $348,000. Wolverine Asset Management LLC grew its holdings in BlackRock Taxable Municipal Bond Trust by 678.7% during the 2nd quarter. Wolverine Asset Management LLC now owns 30,369 shares of the investment management company’s stock worth $497,000 after acquiring an additional 26,469 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in BlackRock Taxable Municipal Bond Trust by 68.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 33,700 shares of the investment management company’s stock worth $551,000 after acquiring an additional 13,665 shares in the last quarter.

BlackRock Taxable Municipal Bond Trust Price Performance

NYSE:BBN traded up $0.06 during midday trading on Friday, hitting $17.22. 210,188 shares of the company were exchanged, compared to its average volume of 231,135. The company has a fifty day simple moving average of $17.70 and a 200 day simple moving average of $16.63. BlackRock Taxable Municipal Bond Trust has a fifty-two week low of $14.33 and a fifty-two week high of $18.42.

BlackRock Taxable Municipal Bond Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a $0.0929 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.47%. The ex-dividend date is Tuesday, October 15th.

About BlackRock Taxable Municipal Bond Trust

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.