BlackRock Core Bond Trust (NYSE:BHK) Stock Price Crosses Below 50 Day Moving Average – What’s Next?

Shares of BlackRock Core Bond Trust (NYSE:BHK) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $9.04 and traded as low as $9.00. BlackRock Core Bond Trust shares last traded at $9.0850, with a volume of 211,687 shares traded.

BlackRock Core Bond Trust Stock Performance

The company has a 50 day moving average of $9.04 and a 200-day moving average of $9.31.

BlackRock Core Bond Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.0746 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date is Tuesday, September 15th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Turim 21 Investimentos Ltda. purchased a new stake in BlackRock Core Bond Trust in the third quarter valued at approximately $31,000. Kestra Advisory Services LLC purchased a new position in BlackRock Core Bond Trust in the 4th quarter worth approximately $34,000. Axiom Investment Management LLC bought a new position in shares of BlackRock Core Bond Trust in the 1st quarter worth $35,000. CIBC Private Wealth Group LLC bought a new position in shares of BlackRock Core Bond Trust in the 4th quarter worth $37,000. Finally, PNC Financial Services Group Inc. raised its position in shares of BlackRock Core Bond Trust by 120.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,488 shares of the investment management company’s stock valued at $50,000 after buying an additional 3,000 shares in the last quarter.

About BlackRock Core Bond Trust

BlackRock Core Bond Trust (NYSE: BHK) is a closed-end management investment company that seeks to provide shareholders with a high level of current income, consistent with the preservation of capital. The trust primarily invests in a diversified portfolio of investment-grade fixed-income securities, including U.S. government and agency obligations, corporate bonds, mortgage- and asset-backed securities, and other debt instruments. The fund may employ leverage to enhance its income-generating potential.

Since its inception in 2008, BHK has been managed by a dedicated team of fixed-income professionals at BlackRock Advisors, drawing on the firm’s global research capabilities and risk-management platform.