Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) Shares Down 0.2% – Here’s Why

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN)’s share price fell 0.2% during trading on Monday . The stock traded as low as $26.00 and last traded at $26.20. 13,068 shares changed hands during trading, an increase of 22% from the average session volume of 10,699 shares. The stock had previously closed at $26.26.

Blackrock 2037 Municipal Target Term Trust Price Performance

The stock has a 50-day moving average of $25.89 and a two-hundred day moving average of $25.12.

Blackrock 2037 Municipal Target Term Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 13th will be issued a $0.0938 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, March 13th.

Insider Activity

In related news, major shareholder Of America Corp /De/ Bank sold 1,164 shares of the stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $28,587.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Institutional Trading of Blackrock 2037 Municipal Target Term Trust

Hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. increased its holdings in shares of Blackrock 2037 Municipal Target Term Trust by 173.2% in the second quarter. Osaic Holdings Inc. now owns 5,000 shares of the company’s stock worth $123,000 after buying an additional 3,170 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in Blackrock 2037 Municipal Target Term Trust during the 3rd quarter worth approximately $289,000. Narwhal Capital Management purchased a new position in Blackrock 2037 Municipal Target Term Trust in the 3rd quarter worth approximately $476,000. Truist Financial Corp increased its stake in Blackrock 2037 Municipal Target Term Trust by 13.4% in the 2nd quarter. Truist Financial Corp now owns 24,048 shares of the company’s stock worth $592,000 after purchasing an additional 2,848 shares during the period. Finally, Van ECK Associates Corp lifted its position in Blackrock 2037 Municipal Target Term Trust by 8.7% in the third quarter. Van ECK Associates Corp now owns 27,665 shares of the company’s stock valued at $694,000 after purchasing an additional 2,218 shares during the last quarter.

Blackrock 2037 Municipal Target Term Trust Company Profile

BlackRock 2037 Municipal Target Term Trust (NYSE:BMN) is a closed-end management investment company sponsored by BlackRock, Inc, one of the world’s largest asset managers. The trust was established to provide investors with exposure to a diversified portfolio of U.S. municipal securities and seeks to deliver federally tax-exempt income. As a target-term fund, BMN has a predetermined termination date of January 23, 2037, at which time the trust’s assets will be liquidated and net proceeds distributed to shareholders.

The fund’s investment objective is current income exempt from regular U.S.