BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN - Get Free Report) was the recipient of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totalling 14,500 shares, a decrease of 45.7% from the April 30th total of 26,700 shares. Based on an average daily volume of 58,900 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the company's stock are sold short.
BlackRock Investment Quality Municipal Trust Price Performance
Shares of BKN stock traded down $0.04 on Tuesday, reaching $10.76. 87,637 shares of the company were exchanged, compared to its average volume of 59,622. The company has a 50-day moving average of $10.89 and a 200-day moving average of $11.34. BlackRock Investment Quality Municipal Trust has a one year low of $10.22 and a one year high of $13.16.
BlackRock Investment Quality Municipal Trust Announces Dividend
The company also recently declared a monthly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were issued a $0.057 dividend. The ex-dividend date was Thursday, May 15th. This represents a $0.68 annualized dividend and a yield of 6.36%.
Institutional Investors Weigh In On BlackRock Investment Quality Municipal Trust
Hedge funds have recently added to or reduced their stakes in the company. Logan Stone Capital LLC bought a new position in shares of BlackRock Investment Quality Municipal Trust in the 4th quarter worth $1,818,000. Hennion & Walsh Asset Management Inc. acquired a new position in BlackRock Investment Quality Municipal Trust during the first quarter worth $1,803,000. Mackay Shields LLC bought a new position in shares of BlackRock Investment Quality Municipal Trust in the first quarter valued at $1,058,000. Clare Market Investments LLC acquired a new position in shares of BlackRock Investment Quality Municipal Trust during the fourth quarter valued at about $960,000. Finally, Raymond James Financial Inc. acquired a new position in shares of BlackRock Investment Quality Municipal Trust during the fourth quarter valued at about $759,000. Institutional investors and hedge funds own 26.67% of the company's stock.
BlackRock Investment Quality Municipal Trust Company Profile
(
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BlackRock Investment Quality Municipal Trust Inc is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade municipal bonds municipal obligations exempt from federal income taxes.
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