Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Short Interest Up 181.1% in February

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 402,800 shares, a growth of 181.1% from the January 31st total of 143,300 shares. Based on an average trading volume of 199,400 shares, the days-to-cover ratio is presently 2.0 days.

Blackstone Strategic Credit 2027 Term Fund Stock Performance

Shares of NYSE:BGB traded up $0.01 during midday trading on Friday, reaching $12.33. 227,795 shares of the company traded hands, compared to its average volume of 177,823. Blackstone Strategic Credit 2027 Term Fund has a 12 month low of $11.58 and a 12 month high of $12.69. The firm’s fifty day moving average price is $12.37 and its two-hundred day moving average price is $12.36.

Blackstone Strategic Credit 2027 Term Fund Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 21st were paid a dividend of $0.089 per share. The ex-dividend date was Friday, February 21st. This represents a dividend yield of 8.67%.

Institutional Trading of Blackstone Strategic Credit 2027 Term Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE purchased a new position in shares of Blackstone Strategic Credit 2027 Term Fund in the 4th quarter worth about $45,000. Spire Wealth Management purchased a new position in shares of Blackstone Strategic Credit 2027 Term Fund in the 4th quarter worth about $67,000. Elequin Capital LP purchased a new position in shares of Blackstone Strategic Credit 2027 Term Fund in the 4th quarter worth about $103,000. Citadel Advisors LLC purchased a new position in shares of Blackstone Strategic Credit 2027 Term Fund in the 4th quarter worth about $127,000. Finally, Catalina Capital Group LLC purchased a new position in shares of Blackstone Strategic Credit 2027 Term Fund in the 3rd quarter worth about $144,000.

About Blackstone Strategic Credit 2027 Term Fund

Blackstone Strategic Credit 2027 Term Fund is a close ended fixed income mutual fund launched and managed by GSO / Blackstone Debt Funds Management LLC. It invests in the fixed income markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in the loans and other fixed income instruments including first- and second-lien secured loans and high-yield corporate bonds of different maturities.