BlackRock Municipal Income Trust II (NYSE:BLE) Stock Price Crosses Below Fifty Day Moving Average – Here’s What Happened

BlackRock Municipal Income Trust II (NYSE:BLE)’s stock price passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $10.47 and traded as low as $10.36. BlackRock Municipal Income Trust II shares last traded at $10.42, with a volume of 186,950 shares traded.

BlackRock Municipal Income Trust II Price Performance

The business has a 50 day moving average of $10.47 and a 200 day moving average of $10.18.

BlackRock Municipal Income Trust II Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, November 3rd. Stockholders of record on Wednesday, October 15th were paid a $0.054 dividend. The ex-dividend date was Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%.

Institutional Trading of BlackRock Municipal Income Trust II

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLE. Karpus Management Inc. boosted its holdings in BlackRock Municipal Income Trust II by 8.5% during the second quarter. Karpus Management Inc. now owns 4,287,798 shares of the company’s stock valued at $43,049,000 after purchasing an additional 334,809 shares in the last quarter. Pathstone Holdings LLC boosted its stake in BlackRock Municipal Income Trust II by 21.6% in the 3rd quarter. Pathstone Holdings LLC now owns 1,752,419 shares of the company’s stock valued at $18,313,000 after buying an additional 311,632 shares in the last quarter. Mackay Shields LLC grew its position in BlackRock Municipal Income Trust II by 63.2% in the second quarter. Mackay Shields LLC now owns 577,670 shares of the company’s stock valued at $5,800,000 after acquiring an additional 223,646 shares during the period. Park Avenue Securities LLC acquired a new position in BlackRock Municipal Income Trust II during the second quarter worth $1,171,000. Finally, Cary Street Partners Financial LLC bought a new stake in shares of BlackRock Municipal Income Trust II in the 2nd quarter worth about $1,118,000.

BlackRock Municipal Income Trust II Company Profile

BlackRock Municipal Income Trust II (NYSE:BLE) is a closed-end, diversified management investment company that seeks to offer shareholders a high level of current income exempt from federal income taxes. The fund pursues this objective by investing primarily in a portfolio of municipal debt obligations. Its holdings span various sectors of the municipal market, including general obligation bonds, revenue bonds, and other tax-exempt instruments issued by U.S. states, cities, counties and municipal authorities.

The fund’s portfolio typically combines investment-grade and below-investment-grade (high-yield) municipal securities, allowing it to balance income potential with credit quality considerations.