BlackRock Health Sciences Term Trust (NYSE:BMEZ) Short Interest Up 112.8% in November

BlackRock Health Sciences Term Trust (NYSE:BMEZ) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 63,000 shares, an increase of 112.8% from the October 31st total of 29,600 shares. Based on an average trading volume of 216,800 shares, the days-to-cover ratio is currently 0.3 days.

BlackRock Health Sciences Term Trust Price Performance

Shares of NYSE:BMEZ traded up 0.10 during trading on Friday, reaching 15.66. 215,700 shares of the company’s stock traded hands, compared to its average volume of 267,616. BlackRock Health Sciences Term Trust has a fifty-two week low of 13.82 and a fifty-two week high of 16.59. The company has a 50-day simple moving average of 15.65 and a 200-day simple moving average of 15.59.

BlackRock Health Sciences Term Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a $0.1769 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 13.56%. The ex-dividend date of this dividend was Friday, November 15th.

Insider Activity at BlackRock Health Sciences Term Trust

In other news, major shareholder Saba Capital Management, L.P. purchased 27,148 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were bought at an average price of 15.93 per share, for a total transaction of 432,467.64. Following the completion of the transaction, the insider now owns 20,565,579 shares in the company, valued at 327,609,673.47. This represents a 0.13 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders purchased 99,630 shares of company stock worth $1,585,113.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. purchased a new stake in BlackRock Health Sciences Term Trust in the 3rd quarter worth $32,000. Register Financial Advisors LLC increased its stake in shares of BlackRock Health Sciences Term Trust by 5,365.6% during the second quarter. Register Financial Advisors LLC now owns 6,832 shares of the company’s stock worth $105,000 after purchasing an additional 6,707 shares in the last quarter. K2 Principal Fund L.P. acquired a new position in shares of BlackRock Health Sciences Term Trust during the 3rd quarter worth about $158,000. Shaker Financial Services LLC purchased a new position in BlackRock Health Sciences Term Trust in the 2nd quarter valued at about $184,000. Finally, Comerica Bank boosted its holdings in BlackRock Health Sciences Term Trust by 31.1% in the 1st quarter. Comerica Bank now owns 15,469 shares of the company’s stock worth $254,000 after buying an additional 3,671 shares during the last quarter.

BlackRock Health Sciences Term Trust Company Profile

BlackRock Health Sciences Trust II’s (BMEZ) (the ‘Trust’) investment objective is to provide total return and income through a combination of current income, current gains and long-term capital appreciation. The Trust seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its total assets in equity securities of companies principally engaged in the health sciences group of industries and equity derivatives with exposure to the health sciences group of industries.