Short Interest in Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) Drops By 74.9%

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) was the recipient of a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 3,732 shares, a decrease of 74.9% from the May 14th total of 14,853 shares. Based on an average daily volume of 8,685 shares, the days-to-cover ratio is currently 0.4 days.

Blackrock 2037 Municipal Target Term Trust Stock Down 1.5%

BMN stock traded down $0.41 during mid-day trading on Thursday, reaching $26.03. 6,960 shares of the stock traded hands, compared to its average volume of 9,268. Blackrock 2037 Municipal Target Term Trust has a 52 week low of $23.96 and a 52 week high of $27.96. The business has a 50-day moving average of $25.91 and a two-hundred day moving average of $26.07.

Blackrock 2037 Municipal Target Term Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.0938 per share. This represents a c) dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Tuesday, September 15th.

Institutional Investors Weigh In On Blackrock 2037 Municipal Target Term Trust

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in shares of Blackrock 2037 Municipal Target Term Trust by 6.1% in the first quarter. Bank of America Corp DE now owns 122,544 shares of the company’s stock valued at $3,179,000 after acquiring an additional 7,029 shares during the period. DUTCH ASSET Corp boosted its position in shares of Blackrock 2037 Municipal Target Term Trust by 30.3% in the first quarter. DUTCH ASSET Corp now owns 11,551 shares of the company’s stock valued at $300,000 after acquiring an additional 2,689 shares during the period. Invesco Ltd. boosted its position in shares of Blackrock 2037 Municipal Target Term Trust by 4.6% in the fourth quarter. Invesco Ltd. now owns 18,264 shares of the company’s stock valued at $478,000 after acquiring an additional 802 shares during the period. Royal Bank of Canada boosted its position in shares of Blackrock 2037 Municipal Target Term Trust by 70.7% in the fourth quarter. Royal Bank of Canada now owns 31,912 shares of the company’s stock valued at $835,000 after acquiring an additional 13,212 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of Blackrock 2037 Municipal Target Term Trust by 24.5% in the fourth quarter. Van ECK Associates Corp now owns 34,447 shares of the company’s stock valued at $902,000 after acquiring an additional 6,782 shares during the period.

Blackrock 2037 Municipal Target Term Trust Company Profile

BlackRock 2037 Municipal Target Term Trust (NYSE:BMN) is a closed-end management investment company sponsored by BlackRock, Inc, one of the world’s largest asset managers. The trust was established to provide investors with exposure to a diversified portfolio of U.S. municipal securities and seeks to deliver federally tax-exempt income. As a target-term fund, BMN has a predetermined termination date of January 23, 2037, at which time the trust’s assets will be liquidated and net proceeds distributed to shareholders.

The fund’s investment objective is current income exempt from regular U.S.