Short Interest in BlackRock Tchnlgy nd Prvt Eqty Trm Trst (NYSE:BTX) Declines By 44.4%

Key Points

• Short interest in BTX fell sharply in June, dropping 44.4% to 172,574 shares from 310,600 shares two weeks earlier. That leaves only about 0.3% of the stock sold short.
• BTX shares declined by 2.8% to $8.14, with trading volume above average during the session. The fund now has a market cap of about $479 million and a 52-week range of $6.13 to $9.44.
• The trust announced a monthly dividend of $0.0525 per share, payable Sept. 30 to shareholders of record on Sept. 15. The annualized yield is 7.7%.

BlackRock Tchnlgy nd Prvt Eqty Trm Trst (NYSE:BTX - Get Free Report) was the target of a significant decrease in short interest in June. As of June 30th, there was short interest totaling 172,574 shares, a decrease of 44.4% from the June 15th total of 310,600 shares. Based on an average trading volume of 723,936 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.3% of the shares of the stock are short sold.

BlackRock Tchnlgy nd Prvt Eqty Trm Trst Stock Down 2.8%

Shares of BTX traded down $0.23 during trading hours on Thursday, reaching $8.14. 969,709 shares of the company traded hands, compared to its average volume of 798,461. The stock has a market capitalization of $479.14 million, a PE ratio of -3.59 and a beta of 4.61. The stock has a fifty day simple moving average of $8.82 and a 200 day simple moving average of $7.53. BlackRock Tchnlgy nd Prvt Eqty Trm Trst has a fifty-two week low of $6.13 and a fifty-two week high of $9.44.

BlackRock Tchnlgy nd Prvt Eqty Trm Trst Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.0525 per share. This represents a c) annualized dividend and a dividend yield of 7.7%. The ex-dividend date of this dividend is Tuesday, September 15th. BlackRock Tchnlgy nd Prvt Eqty Trm Trst's dividend payout ratio (DPR) is currently -25.11%.

Hedge Funds Weigh In On BlackRock Tchnlgy nd Prvt Eqty Trm Trst

A number of institutional investors have recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of BlackRock Tchnlgy nd Prvt Eqty Trm Trst during the second quarter valued at approximately $186,000. Chapin Davis Inc. grew its stake in BlackRock Tchnlgy nd Prvt Eqty Trm Trst by 4.1% in the 2nd quarter. Chapin Davis Inc. now owns 77,576 shares of the company's stock worth $701,000 after acquiring an additional 3,028 shares during the period. CoreCap Advisors LLC acquired a new position in BlackRock Tchnlgy nd Prvt Eqty Trm Trst in the 2nd quarter valued at $87,000. Bank of America Corp DE raised its holdings in BlackRock Tchnlgy nd Prvt Eqty Trm Trst by 7.4% in the 1st quarter. Bank of America Corp DE now owns 447,999 shares of the company's stock valued at $2,957,000 after acquiring an additional 30,745 shares during the last quarter. Finally, Rivernorth Capital Management LLC purchased a new position in shares of BlackRock Tchnlgy nd Prvt Eqty Trm Trst during the 1st quarter worth $16,962,000. Institutional investors and hedge funds own 26.00% of the company's stock.

BlackRock Tchnlgy nd Prvt Eqty Trm Trst NYSE: BTX is a closed-end, term investment trust listed on the New York Stock Exchange. The vehicle is structured to provide investors with exposure to technology-focused companies and private equity investments through a managed portfolio of equity securities and related instruments. As a term trust, BTX operates with a defined life and an eventual liquidation or conversion mechanism determined by the fund's governing documents and shareholder votes.

The trust's stated investment focus centers on companies operating in the technology sector and on private equity interests that complement its public market holdings.

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