BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Shares Cross Below 200-Day Moving Average – What’s Next?

Shares of BlackRock Taxable Municipal Bond Trust (NYSE:BBN) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.38 and traded as low as $15.88. BlackRock Taxable Municipal Bond Trust shares last traded at $15.9280, with a volume of 124,692 shares.

BlackRock Taxable Municipal Bond Trust Stock Performance

The stock has a fifty day simple moving average of $16.03 and a 200-day simple moving average of $16.38.

Hedge Funds Weigh In On BlackRock Taxable Municipal Bond Trust

A number of large investors have recently added to or reduced their stakes in BBN. Bank of America Corp DE increased its holdings in BlackRock Taxable Municipal Bond Trust by 58.6% during the 3rd quarter. Bank of America Corp DE now owns 1,048,712 shares of the investment management company’s stock worth $17,409,000 after purchasing an additional 387,300 shares in the last quarter. Sit Investment Associates Inc. increased its holdings in BlackRock Taxable Municipal Bond Trust by 5.9% during the 4th quarter. Sit Investment Associates Inc. now owns 6,694,566 shares of the investment management company’s stock worth $109,255,000 after purchasing an additional 372,131 shares in the last quarter. Rivernorth Capital Management LLC bought a new position in BlackRock Taxable Municipal Bond Trust during the 1st quarter worth about $3,778,000. J.W. Cole Advisors Inc. bought a new position in BlackRock Taxable Municipal Bond Trust during the 4th quarter worth about $3,736,000. Finally, Focus Partners Wealth bought a new position in BlackRock Taxable Municipal Bond Trust during the 4th quarter worth about $2,899,000.

About BlackRock Taxable Municipal Bond Trust

The BlackRock Taxable Municipal Bond Trust (NYSE:BBN) is a closed-end management investment company that seeks to provide current income and preservation of capital through a diversified portfolio of taxable municipal debt securities. Advisement and portfolio management services are provided by BlackRock Advisors, LLC, leveraging the firm’s global credit research and trading capabilities to analyze risk and identify opportunities within the municipal bond sector.

Since its inception in 1989, BBN has invested primarily in investment-grade and non-investment-grade municipal obligations issued by U.S.