BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Shares of BlackRock Taxable Municipal Bond Trust (NYSE:BBN) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $16.58 and traded as low as $16.16. BlackRock Taxable Municipal Bond Trust shares last traded at $16.1950, with a volume of 279,659 shares traded.

BlackRock Taxable Municipal Bond Trust Stock Up 0.3%

The stock has a 50 day simple moving average of $16.66 and a 200-day simple moving average of $16.58.

BlackRock Taxable Municipal Bond Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.0986 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 7.3%.

Institutional Investors Weigh In On BlackRock Taxable Municipal Bond Trust

Several hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada increased its holdings in BlackRock Taxable Municipal Bond Trust by 13.1% during the 1st quarter. Royal Bank of Canada now owns 562,515 shares of the investment management company’s stock worth $9,383,000 after purchasing an additional 64,953 shares during the period. Trust Co. of Toledo NA OH bought a new position in shares of BlackRock Taxable Municipal Bond Trust during the 2nd quarter worth $52,000. Keybank National Association OH increased its stake in shares of BlackRock Taxable Municipal Bond Trust by 8.3% during the second quarter. Keybank National Association OH now owns 86,457 shares of the investment management company’s stock valued at $1,393,000 after buying an additional 6,617 shares during the period. Wolverine Asset Management LLC bought a new stake in shares of BlackRock Taxable Municipal Bond Trust in the second quarter valued at about $219,000. Finally, Allworth Financial LP raised its holdings in shares of BlackRock Taxable Municipal Bond Trust by 1,333.3% in the second quarter. Allworth Financial LP now owns 4,300 shares of the investment management company’s stock valued at $69,000 after acquiring an additional 4,000 shares in 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.