BlackRock Municipal Income Trust II (NYSE:BLE) Trading Up 0.7% – Time to Buy?

BlackRock Municipal Income Trust II (NYSE:BLE) shares were up 0.7% on Tuesday . The stock traded as high as $10.59 and last traded at $10.57. Approximately 96,974 shares traded hands during trading, an increase of 5% from the average daily volume of 92,159 shares. The stock had previously closed at $10.50.

BlackRock Municipal Income Trust II Trading Up 0.7%

The business has a fifty day simple moving average of $10.42 and a 200 day simple moving average of $10.24.

Institutional Investors Weigh In On BlackRock Municipal Income Trust II

Several institutional investors and hedge funds have recently added to or reduced their stakes in BLE. Karpus Management Inc. raised its position in shares of BlackRock Municipal Income Trust II by 8.5% during the 2nd quarter. Karpus Management Inc. now owns 4,287,798 shares of the company’s stock valued at $43,049,000 after buying an additional 334,809 shares during the period. Pathstone Holdings LLC raised its position in BlackRock Municipal Income Trust II by 21.6% in the third quarter. Pathstone Holdings LLC now owns 1,752,419 shares of the company’s stock valued at $18,313,000 after purchasing an additional 311,632 shares during the period. Mackay Shields LLC lifted its stake in shares of BlackRock Municipal Income Trust II by 63.2% in the 2nd quarter. Mackay Shields LLC now owns 577,670 shares of the company’s stock valued at $5,800,000 after purchasing an additional 223,646 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of BlackRock Municipal Income Trust II by 10.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 427,845 shares of the company’s stock worth $4,471,000 after purchasing an additional 41,548 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of BlackRock Municipal Income Trust II by 5.1% during the 3rd quarter. Van ECK Associates Corp now owns 346,834 shares of the company’s stock worth $3,624,000 after purchasing an additional 16,894 shares during the period.

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.