Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Trading Up 0.3% – Here’s Why

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) shares rose 0.3% on Wednesday . The company traded as high as $12.61 and last traded at $12.60. Approximately 223,257 shares were traded during mid-day trading, an increase of 5% from the average daily volume of 212,350 shares. The stock had previously closed at $12.56.

Blackstone Strategic Credit 2027 Term Fund Price Performance

The business’s 50-day moving average price is $12.38 and its 200 day moving average price is $12.29.

Blackstone Strategic Credit 2027 Term Fund Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.089 per share. This represents a dividend yield of 8.67%. The ex-dividend date of this dividend is Friday, February 21st.

Institutional Investors Weigh In On Blackstone Strategic Credit 2027 Term Fund

Several hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in Blackstone Strategic Credit 2027 Term Fund during the 3rd quarter valued at $197,000. Stifel Financial Corp increased its stake in shares of Blackstone Strategic Credit 2027 Term Fund by 29.7% in the 3rd quarter. Stifel Financial Corp now owns 91,295 shares of the company’s stock worth $1,125,000 after purchasing an additional 20,879 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Blackstone Strategic Credit 2027 Term Fund by 1.5% in the third quarter. Rockefeller Capital Management L.P. now owns 69,653 shares of the company’s stock worth $858,000 after buying an additional 1,020 shares during the period. HighTower Advisors LLC boosted its position in shares of Blackstone Strategic Credit 2027 Term Fund by 9.5% in the third quarter. HighTower Advisors LLC now owns 856,327 shares of the company’s stock worth $10,545,000 after purchasing an additional 74,478 shares during the period. Finally, Moors & Cabot Inc. increased its stake in Blackstone Strategic Credit 2027 Term Fund by 22.7% in the 3rd quarter. Moors & Cabot Inc. now owns 13,500 shares of the company’s stock worth $166,000 after buying an additional 2,500 shares in the last quarter.

About Blackstone Strategic Credit 2027 Term Fund

Blackstone Strategic Credit 2027 Term Fund is a close ended fixed income mutual fund launched and managed by GSO / Blackstone Debt Funds Management LLC. It invests in the fixed income markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in the loans and other fixed income instruments including first- and second-lien secured loans and high-yield corporate bonds of different maturities.