Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) Sees Significant Increase in Short Interest

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 12,200 shares, a growth of 62.7% from the October 15th total of 7,500 shares. Based on an average daily volume of 13,300 shares, the short-interest ratio is presently 0.9 days.

Hedge Funds Weigh In On Blackrock 2037 Municipal Target Term Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Truist Financial Corp purchased a new position in shares of Blackrock 2037 Municipal Target Term Trust in the second quarter worth about $210,000. Dorsey & Whitney Trust CO LLC bought a new stake in Blackrock 2037 Municipal Target Term Trust in the 2nd quarter worth approximately $222,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Blackrock 2037 Municipal Target Term Trust by 52.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,701 shares of the company’s stock valued at $413,000 after purchasing an additional 5,730 shares in the last quarter. Commonwealth Equity Services LLC purchased a new position in Blackrock 2037 Municipal Target Term Trust in the 2nd quarter worth $493,000. Finally, Van ECK Associates Corp boosted its holdings in Blackrock 2037 Municipal Target Term Trust by 12.3% during the 3rd quarter. Van ECK Associates Corp now owns 35,136 shares of the company’s stock valued at $880,000 after acquiring an additional 3,858 shares during the period.

Blackrock 2037 Municipal Target Term Trust Stock Performance

Shares of BMN stock traded up $0.19 during mid-day trading on Thursday, reaching $25.26. 8,079 shares of the stock traded hands, compared to its average volume of 18,081. Blackrock 2037 Municipal Target Term Trust has a 1-year low of $23.35 and a 1-year high of $26.14. The stock’s fifty day simple moving average is $25.12 and its two-hundred day simple moving average is $24.81.

Blackrock 2037 Municipal Target Term Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a dividend of $0.094 per share. This represents a $1.13 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Friday, November 15th. This is a positive change from Blackrock 2037 Municipal Target Term Trust’s previous monthly dividend of $0.09.

Blackrock 2037 Municipal Target Term Trust Company Profile

Blackrock 2037 Municipal Target Term Trust is an close-ended fixed income mutual fund launched by Blackrock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in fixed income markets. The fund primarily invests in n investment grade municipal securities that are rated BBB- or above by S&P and Fitch or Baa3 or above by Moody's.