BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Stock Price Passes Below 200-Day Moving Average – Should You Sell?

BlackRock Taxable Municipal Bond Trust (NYSE:BBN)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $16.59 and traded as low as $15.58. BlackRock Taxable Municipal Bond Trust shares last traded at $15.6950, with a volume of 246,231 shares trading hands.

BlackRock Taxable Municipal Bond Trust Price Performance

The firm’s 50 day simple moving average is $16.28 and its 200-day simple moving average is $16.59.

BlackRock Taxable Municipal Bond Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a dividend of $0.0986 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 7.5%.

Institutional Investors Weigh In On BlackRock Taxable Municipal Bond Trust

Institutional investors and hedge funds have recently modified their holdings of the company. Corient Private Wealth LLC raised its stake in BlackRock Taxable Municipal Bond Trust by 18.1% in the fourth quarter. Corient Private Wealth LLC now owns 54,625 shares of the investment management company’s stock valued at $891,000 after buying an additional 8,364 shares during the period. Garton & Associates Financial Advisors LLC acquired a new position in shares of BlackRock Taxable Municipal Bond Trust in the fourth quarter valued at approximately $36,000. Millennium Management LLC bought a new position in shares of BlackRock Taxable Municipal Bond Trust during the fourth quarter worth approximately $212,000. Balyasny Asset Management L.P. acquired a new stake in BlackRock Taxable Municipal Bond Trust during the 4th quarter worth approximately $583,000. Finally, Cetera Investment Advisers lifted its holdings in BlackRock Taxable Municipal Bond Trust by 16.7% during the 4th quarter. Cetera Investment Advisers now owns 43,796 shares of the investment management company’s stock worth $715,000 after purchasing an additional 6,252 shares during the last quarter.

About BlackRock Taxable Municipal Bond Trust

The BlackRock Taxable Municipal Bond Trust (NYSE:BBN) is a closed-end management investment company that seeks to provide current income and preservation of capital through a diversified portfolio of taxable municipal debt securities. Advisement and portfolio management services are provided by BlackRock Advisors, LLC, leveraging the firm’s global credit research and trading capabilities to analyze risk and identify opportunities within the municipal bond sector.

Since its inception in 1989, BBN has invested primarily in investment-grade and non-investment-grade municipal obligations issued by U.S.