Short Interest in Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Expands By 88.7%

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totalling 73,600 shares, a growth of 88.7% from the May 31st total of 39,000 shares. Based on an average trading volume of 148,700 shares, the days-to-cover ratio is presently 0.5 days.

Hedge Funds Weigh In On Blackstone Strategic Credit 2027 Term Fund

Hedge funds and other institutional investors have recently bought and sold shares of the business. Eagle Bay Advisors LLC acquired a new stake in shares of Blackstone Strategic Credit 2027 Term Fund in the first quarter valued at approximately $33,000. Comerica Bank lifted its holdings in Blackstone Strategic Credit 2027 Term Fund by 32.1% during the 1st quarter. Comerica Bank now owns 5,508 shares of the company’s stock valued at $66,000 after purchasing an additional 1,338 shares during the last quarter. CTC Alternative Strategies Ltd. bought a new position in Blackstone Strategic Credit 2027 Term Fund during the fourth quarter worth $139,000. Perigon Wealth Management LLC bought a new position in Blackstone Strategic Credit 2027 Term Fund during the first quarter worth $151,000. Finally, B. Riley Wealth Advisors Inc. increased its holdings in shares of Blackstone Strategic Credit 2027 Term Fund by 14.9% in the third quarter. B. Riley Wealth Advisors Inc. now owns 13,905 shares of the company’s stock valued at $153,000 after purchasing an additional 1,805 shares during the last quarter.

Blackstone Strategic Credit 2027 Term Fund Stock Performance

BGB stock traded up $0.02 during trading hours on Friday, reaching $11.89. The stock had a trading volume of 181,703 shares, compared to its average volume of 151,290. The stock has a 50-day simple moving average of $11.93 and a 200 day simple moving average of $11.72. Blackstone Strategic Credit 2027 Term Fund has a fifty-two week low of $10.47 and a fifty-two week high of $12.22.

Blackstone Strategic Credit 2027 Term Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 23rd will be paid a $0.101 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $1.21 annualized dividend and a yield of 10.19%.

About Blackstone Strategic Credit 2027 Term Fund

Blackstone Strategic Credit 2027 Term Fund is a close ended fixed income mutual fund launched and managed by GSO / Blackstone Debt Funds Management LLC. It invests in the fixed income markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in the loans and other fixed income instruments including first- and second-lien secured loans and high-yield corporate bonds of different maturities.