BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Stock Price Passes Below 200-Day Moving Average – Should You Sell?

BlackRock Taxable Municipal Bond Trust (NYSE:BBN) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.63 and traded as low as $15.80. BlackRock Taxable Municipal Bond Trust shares last traded at $15.8260, with a volume of 447,843 shares trading hands.

BlackRock Taxable Municipal Bond Trust Price Performance

The stock’s 50-day moving average is $16.37 and its 200-day moving average is $16.63.

BlackRock Taxable Municipal Bond Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.0986 per share. This represents a c) dividend on an annualized basis and a yield of 7.5%. The ex-dividend date of this dividend is Monday, June 15th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Corient Private Wealth LLC boosted its holdings in BlackRock Taxable Municipal Bond Trust by 18.1% during the fourth quarter. Corient Private Wealth LLC now owns 54,625 shares of the investment management company’s stock worth $891,000 after buying an additional 8,364 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of BlackRock Taxable Municipal Bond Trust in the 4th quarter worth $36,000. Millennium Management LLC acquired a new position in shares of BlackRock Taxable Municipal Bond Trust in the 4th quarter worth $212,000. Balyasny Asset Management L.P. purchased a new stake in shares of BlackRock Taxable Municipal Bond Trust during the fourth quarter valued at $583,000. Finally, Cetera Investment Advisers lifted its holdings in shares of BlackRock Taxable Municipal Bond Trust by 16.7% during the fourth quarter. Cetera Investment Advisers now owns 43,796 shares of the investment management company’s stock valued at $715,000 after purchasing an additional 6,252 shares during the last quarter.

BlackRock Taxable Municipal Bond Trust Company Profile

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.