Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) Stock Price Up 0.6% – Still a Buy?

Blackrock 2037 Municipal Target Term Trust (NYSE:BMN) shares rose 0.6% during mid-day trading on Tuesday . The stock traded as high as $26.44 and last traded at $26.44. Approximately 2,258 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 9,347 shares. The stock had previously closed at $26.27.

Blackrock 2037 Municipal Target Term Trust Price Performance

The company’s 50-day moving average is $25.91 and its 200-day moving average is $26.05.

Blackrock 2037 Municipal Target Term Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a $0.0938 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 4.3%.

Institutional Investors Weigh In On Blackrock 2037 Municipal Target Term Trust

Several hedge funds have recently modified their holdings of BMN. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Blackrock 2037 Municipal Target Term Trust in the fourth quarter worth approximately $1,844,000. Royal Bank of Canada boosted its position in shares of Blackrock 2037 Municipal Target Term Trust by 70.7% in the fourth quarter. Royal Bank of Canada now owns 31,912 shares of the company’s stock worth $835,000 after acquiring an additional 13,212 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Blackrock 2037 Municipal Target Term Trust in the third quarter worth approximately $289,000. DUTCH ASSET Corp acquired a new stake in shares of Blackrock 2037 Municipal Target Term Trust in the fourth quarter worth approximately $232,000. Finally, UBS Group AG boosted its position in shares of Blackrock 2037 Municipal Target Term Trust by 11.7% in the third quarter. UBS Group AG now owns 78,694 shares of the company’s stock worth $1,974,000 after acquiring an additional 8,216 shares during the last quarter.

About Blackrock 2037 Municipal Target Term Trust

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.