Short Interest in BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Grows By 55.9%

BlackRock Taxable Municipal Bond Trust (NYSE:BBN) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 102,966 shares, an increase of 55.9% from the July 15th total of 66,063 shares. Based on an average trading volume of 96,873 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BBN. Sit Investment Associates Inc. boosted its stake in shares of BlackRock Taxable Municipal Bond Trust by 5.9% in the 4th quarter. Sit Investment Associates Inc. now owns 6,694,566 shares of the investment management company’s stock valued at $109,255,000 after purchasing an additional 372,131 shares in the last quarter. Morgan Stanley increased its position in shares of BlackRock Taxable Municipal Bond Trust by 3.4% during the 4th quarter. Morgan Stanley now owns 5,213,773 shares of the investment management company’s stock worth $85,089,000 after purchasing an additional 169,391 shares in the last quarter. Eagle Bluffs Wealth Management LLC increased its position in shares of BlackRock Taxable Municipal Bond Trust by 4.3% during the 1st quarter. Eagle Bluffs Wealth Management LLC now owns 2,202,048 shares of the investment management company’s stock worth $35,607,000 after purchasing an additional 89,793 shares in the last quarter. Bank of America Corp DE increased its position in shares of BlackRock Taxable Municipal Bond Trust by 2.4% during the 1st quarter. Bank of America Corp DE now owns 1,128,853 shares of the investment management company’s stock worth $18,254,000 after purchasing an additional 26,778 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in BlackRock Taxable Municipal Bond Trust by 4.4% during the 3rd quarter. Raymond James Financial Inc. now owns 938,902 shares of the investment management company’s stock valued at $15,586,000 after purchasing an additional 39,843 shares during the last quarter.

BlackRock Taxable Municipal Bond Trust Price Performance

NYSE:BBN opened at $15.73 on Tuesday. BlackRock Taxable Municipal Bond Trust has a 12-month low of $15.47 and a 12-month high of $17.45. The firm has a 50-day moving average price of $15.95 and a 200 day moving average price of $16.08.

BlackRock Taxable Municipal Bond Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $0.0986 dividend. This represents a c) dividend on an annualized basis and a yield of 7.5%. The ex-dividend date is Tuesday, September 15th.

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.