BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) Stock Crosses Below 200 Day Moving Average – What’s Next?

BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.23 and traded as low as $8.82. BlackRock Enhanced Equity Dividend Trust shares last traded at $8.8350, with a volume of 447,629 shares traded.

BlackRock Enhanced Equity Dividend Trust Stock Performance

The firm’s 50 day simple moving average is $9.46 and its 200 day simple moving average is $9.23.

BlackRock Enhanced Equity Dividend Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.0619 per share. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 8.4%.

Institutional Investors Weigh In On BlackRock Enhanced Equity Dividend Trust

Several hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its holdings in shares of BlackRock Enhanced Equity Dividend Trust by 6.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 40,978 shares of the investment management company’s stock valued at $364,000 after buying an additional 2,351 shares during the period. Rockefeller Capital Management L.P. grew its holdings in BlackRock Enhanced Equity Dividend Trust by 6.4% during the second quarter. Rockefeller Capital Management L.P. now owns 94,515 shares of the investment management company’s stock worth $840,000 after acquiring an additional 5,659 shares during the period. MAI Capital Management grew its holdings in BlackRock Enhanced Equity Dividend Trust by 50.3% during the second quarter. MAI Capital Management now owns 6,997 shares of the investment management company’s stock worth $62,000 after acquiring an additional 2,341 shares during the period. Franklin Resources Inc. raised its position in BlackRock Enhanced Equity Dividend Trust by 11.4% during the second quarter. Franklin Resources Inc. now owns 12,493 shares of the investment management company’s stock valued at $111,000 after acquiring an additional 1,281 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in BlackRock Enhanced Equity Dividend Trust by 8.1% during the second quarter. Steward Partners Investment Advisory LLC now owns 274,704 shares of the investment management company’s stock valued at $2,442,000 after acquiring an additional 20,610 shares in the last quarter.

About BlackRock Enhanced Equity Dividend Trust

BlackRock Enhanced Equity Dividend Trust (NYSE: BDJ) is a closed-end management investment company that seeks to provide current income and capital appreciation by investing primarily in dividend-paying equity securities. The trust pursues an enhanced dividend strategy, focusing on U.S. large-capitalization common stocks with a history of dividend payments. To augment income generation, BDJ may also employ an option overlay strategy, writing covered call options on select securities or indices.

Since commencing operations in 2006, BDJ has been advised by BlackRock Fund Advisors, one of the world’s largest asset managers.