BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

BlackRock Taxable Municipal Bond Trust (NYSE:BBN) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $16.38 and traded as low as $15.88. BlackRock Taxable Municipal Bond Trust shares last traded at $15.9280, with a volume of 124,692 shares changing hands.

BlackRock Taxable Municipal Bond Trust Trading Down 0.4%

The company has a fifty day moving average price of $16.03 and a two-hundred day moving average price of $16.38.

Hedge Funds Weigh In On BlackRock Taxable Municipal Bond Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC lifted its position in shares of BlackRock Taxable Municipal Bond Trust by 12.5% during the 1st quarter. NewEdge Advisors LLC now owns 48,284 shares of the investment management company’s stock worth $781,000 after buying an additional 5,363 shares during the period. Western Wealth Management LLC bought a new stake in shares of BlackRock Taxable Municipal Bond Trust during the first quarter worth $49,000. Bank of America Corp DE raised its position in shares of BlackRock Taxable Municipal Bond Trust by 2.4% during the first quarter. Bank of America Corp DE now owns 1,128,853 shares of the investment management company’s stock worth $18,254,000 after acquiring an additional 26,778 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in shares of BlackRock Taxable Municipal Bond Trust during the first quarter worth $173,000. Finally, Rivernorth Capital Management LLC acquired a new stake in shares of BlackRock Taxable Municipal Bond Trust during the first quarter worth $3,778,000.

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.