BlackRock Science and Technology Term Trust (NASDAQ:BSTZ) Stock Price Down 0.4% – Here’s Why

BlackRock Science and Technology Term Trust (NASDAQ:BSTZ)’s stock price dropped 0.4% during mid-day trading on Monday . The company traded as low as $22.60 and last traded at $22.7090. Approximately 353,183 shares changed hands during mid-day trading, an increase of 22% from the average daily volume of 288,525 shares. The stock had previously closed at $22.79.

BlackRock Science and Technology Term Trust Trading Down 0.4%

The company has a fifty day simple moving average of $22.42 and a two-hundred day simple moving average of $21.93.

BlackRock Science and Technology Term Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a dividend of $0.1625 per share. This represents a c) dividend on an annualized basis and a dividend yield of 8.6%. The ex-dividend date is Friday, March 13th.

Insiders Place Their Bets

In other BlackRock Science and Technology Term Trust news, Director Robert W. Fairbairn sold 9,293 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $22.51, for a total transaction of $209,185.43. Following the completion of the transaction, the director owned 1 shares in the company, valued at $22.51. The trade was a 99.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Investors Weigh In On BlackRock Science and Technology Term Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC increased its holdings in BlackRock Science and Technology Term Trust by 100.5% in the third quarter. Lazard Asset Management LLC now owns 682,344 shares of the company’s stock valued at $15,121,000 after buying an additional 342,054 shares during the last quarter. Flagship Harbor Advisors LLC boosted its position in shares of BlackRock Science and Technology Term Trust by 220.2% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 336,660 shares of the company’s stock worth $6,986,000 after acquiring an additional 231,523 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of BlackRock Science and Technology Term Trust by 16.8% in the 3rd quarter. Bank of America Corp DE now owns 959,947 shares of the company’s stock valued at $21,272,000 after acquiring an additional 138,030 shares during the last quarter. Penserra Capital Management LLC raised its position in shares of BlackRock Science and Technology Term Trust by 14.6% during the 3rd quarter. Penserra Capital Management LLC now owns 938,709 shares of the company’s stock worth $20,801,000 after acquiring an additional 119,839 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of BlackRock Science and Technology Term Trust during the 2nd quarter worth about $1,657,000.

About BlackRock Science and Technology Term Trust

BlackRock Science and Technology Term Trust (NASDAQ: BSTZ) is a closed-end management investment company that provides targeted exposure to companies engaged in the science and technology sectors. Listed on the NASDAQ stock exchange, the trust seeks to deliver total return composed of capital appreciation and monthly distributions over a defined term. It operates as a term trust, with an anticipated liquidation date in August 2028, at which point shareholders will receive proceeds based on the trust’s net asset value.

The trust’s investment strategy is centered on equity and equity-related securities of companies involved in advancing scientific research, technological innovation and related applications.