Economy

BlackRock Municipal Income Trus (NYSE:BFK) Experiences Light Trading Volume

Stifel Financial Corp lifted its position in shares of Blackrock Municipal Income Trust by 1.0% in the 2nd quarter. Advisor Group Inc. boosted its holdings in Blackrock Taxable Municipal Bond Trust by 6.6% in the second quarter. The hedge funds in our partner's database now have: 612,931 shares, up from 471,423 shares in 2017Q1. Trading volume was down 98.96% under the stocks average daily volume. Ubs Group Ag now holds 598,962 shares valued at $8,469,000. Short traders are feeling a little more bullish on shares of BlackRock Municipal Income Inve recently looking at the fall in short interest. Advisor Group Inc. now owns 8,585 shares of the investment management company's stock worth $197,000 after purchasing an additional 528 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in Blackrock Taxable Municipal Bond Trust in the second quarter worth $204,000.

Hightower Advisors, LLC added to its ownership by buying 65 shares an increase of 0.4% as of 06/30/2017. The value of the investment in BFK went from $1,248,000 to $1,226,000 a change of $22,000 since the last quarter. Also, the number of institutional investors holding Blackrock New York Municipal 2018 Term Trust in their top 10 equity positions was flat from 0 to 0 for the same number.

The company is so far trading up since yesterday's close of 14.75. BlackRock LT Municipal Advantage Trust has a 1-year low of $11.01 and a 1-year high of $13.44. The firm has a 50 day moving average of $14.31 and a 200 day moving average of $14.30.

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 31st.

BlackRock LT Municipal Advantage Trust (NYSE:BTA)'s stock had its "underperform" rating reissued by investment analysts at Macquarie in a research report issued to clients and investors on Wednesday. Stockholders of record on Monday, October 16th will be issued a dividend of $0.065 per share. The stock presently has an average rating of "Hold" and an average price target of GBX 461.14 ($5.71). The ex-dividend date of this dividend is Friday, October 13th. The Trust's investment objectives are to provide current income exempt from regular federal income tax and Florida intangible personal property tax and to return $15 per common share (the initial offering price per share) to holders of common shares on or about December 31, 2020. The Fund intends to invest at least 50% of its assets in investment-grade or unrated municipal securities of comparable quality and may invest up to 50% of its assets in high-yield municipal securities that are below investment grade. The Trust seeks to achieve its investment objectives by investing, under normal market conditions, its assets in municipal bonds exempt from federal income taxes (except that the interest may be subject to the federal alternative minimum tax).



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