Park Avenue Securities LLC Acquires Shares of 117,640 BlackRock Taxable Municipal Bond Trust (NYSE:BBN)

Park Avenue Securities LLC purchased a new position in BlackRock Taxable Municipal Bond Trust (NYSE:BBN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 117,640 shares of the investment management company’s stock, valued at approximately $1,923,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fortis Group Advisors LLC lifted its holdings in shares of BlackRock Taxable Municipal Bond Trust by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 2,000 shares of the investment management company’s stock worth $33,000 after buying an additional 1,000 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of BlackRock Taxable Municipal Bond Trust in the first quarter worth about $34,000. Tortoise Investment Management LLC increased its position in shares of BlackRock Taxable Municipal Bond Trust by 332.0% in the fourth quarter. Tortoise Investment Management LLC now owns 2,635 shares of the investment management company’s stock worth $43,000 after purchasing an additional 2,025 shares during the last quarter. Benedetti & Gucer Inc. increased its position in shares of BlackRock Taxable Municipal Bond Trust by 15.8% in the first quarter. Benedetti & Gucer Inc. now owns 11,700 shares of the investment management company’s stock worth $191,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new position in shares of BlackRock Taxable Municipal Bond Trust in the fourth quarter worth approximately $285,000.

BlackRock Taxable Municipal Bond Trust Stock Down 2.2 %

Shares of BBN stock traded down $0.38 during trading on Wednesday, hitting $17.12. The company had a trading volume of 380,974 shares, compared to its average volume of 222,416. The stock’s 50-day moving average is $16.35 and its two-hundred day moving average is $16.25. BlackRock Taxable Municipal Bond Trust has a 52 week low of $14.33 and a 52 week high of $17.54.

BlackRock Taxable Municipal Bond Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be given a $0.093 dividend. This represents a $1.12 annualized dividend and a dividend yield of 6.52%. This is a boost from BlackRock Taxable Municipal Bond Trust’s previous monthly dividend of $0.09. The ex-dividend date of this dividend is Thursday, August 15th.

About BlackRock Taxable Municipal Bond Trust

BlackRock Taxable Municipal Bond Trust is a closed-ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in the fixed income markets of the United States. It primarily invests in taxable municipal securities, which include Build America Bonds.