Blackrock Investment Quality Municipal Trust (NYSE:BKN) Trading Up 0.2% – Here’s Why

Blackrock Investment Quality Municipal Trust (NYSE:BKN)’s stock price was up 0.2% during mid-day trading on Friday . The stock traded as high as $11.36 and last traded at $11.33. Approximately 28,183 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 52,775 shares. The stock had previously closed at $11.31.

Blackrock Investment Quality Municipal Trust Price Performance

The company’s 50-day moving average is $11.03 and its 200-day moving average is $10.90.

Blackrock Investment Quality Municipal Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 15th will be paid a $0.057 dividend. The ex-dividend date is Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BKN. Karpus Management Inc. raised its stake in shares of Blackrock Investment Quality Municipal Trust by 369.2% in the second quarter. Karpus Management Inc. now owns 123,531 shares of the company’s stock valued at $1,349,000 after acquiring an additional 97,204 shares during the last quarter. Mackay Shields LLC bought a new position in shares of Blackrock Investment Quality Municipal Trust in the first quarter valued at approximately $1,058,000. Cetera Investment Advisers raised its stake in shares of Blackrock Investment Quality Municipal Trust by 85.3% in the second quarter. Cetera Investment Advisers now owns 146,575 shares of the company’s stock valued at $1,601,000 after acquiring an additional 67,470 shares during the last quarter. Callahan Advisors LLC bought a new position in shares of Blackrock Investment Quality Municipal Trust in the first quarter valued at approximately $468,000. Finally, Wolverine Asset Management LLC raised its stake in shares of Blackrock Investment Quality Municipal Trust by 64.9% in the second quarter. Wolverine Asset Management LLC now owns 100,791 shares of the company’s stock valued at $1,101,000 after acquiring an additional 39,684 shares during the last quarter. Institutional investors own 26.67% of the company’s stock.

Blackrock Investment Quality Municipal Trust Company Profile

BlackRock Investment Quality Municipal Trust Inc is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade municipal bonds municipal obligations exempt from federal income taxes.