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

BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) saw a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 15,400 shares, a drop of 41.7% from the February 13th total of 26,400 shares. Based on an average daily trading volume, of 73,200 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the company’s shares are short sold.

BlackRock Investment Quality Municipal Trust Stock Down 0.6 %

BKN stock opened at $11.28 on Monday. BlackRock Investment Quality Municipal Trust has a 12 month low of $11.01 and a 12 month high of $13.16. The firm’s 50-day moving average is $11.50 and its 200 day moving average is $12.02.

BlackRock Investment Quality Municipal Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.057 dividend. This represents a $0.68 annualized dividend and a yield of 6.07%. The ex-dividend date of this dividend is Friday, March 14th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC purchased a new position in BlackRock Investment Quality Municipal Trust during the 4th quarter valued at about $406,000. Ackerman Capital Advisors LLC purchased a new position in BlackRock Investment Quality Municipal Trust during the 4th quarter valued at about $314,000. Van ECK Associates Corp increased its position in BlackRock Investment Quality Municipal Trust by 7.9% during the 4th quarter. Van ECK Associates Corp now owns 106,618 shares of the company’s stock valued at $1,189,000 after purchasing an additional 7,764 shares during the period. Clare Market Investments LLC purchased a new position in BlackRock Investment Quality Municipal Trust during the 4th quarter valued at about $960,000. Finally, Virtu Financial LLC purchased a new position in BlackRock Investment Quality Municipal Trust during the 3rd quarter valued at about $147,000. Hedge funds and other institutional investors own 26.67% of the company’s stock.

BlackRock Investment Quality Municipal Trust Company Profile

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.