BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) Short Interest Update

BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 35,800 shares, an increase of 13.7% from the August 31st total of 31,500 shares. Based on an average daily trading volume, of 50,100 shares, the days-to-cover ratio is presently 0.7 days.

BlackRock Investment Quality Municipal Trust Trading Up 1.7 %

BKN opened at $12.92 on Tuesday. The firm’s 50 day moving average is $12.45 and its 200-day moving average is $12.20. BlackRock Investment Quality Municipal Trust has a 52-week low of $9.57 and a 52-week high of $13.08.

BlackRock Investment Quality Municipal Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be given a $0.057 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $0.68 dividend on an annualized basis and a yield of 5.29%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BKN. Moloney Securities Asset Management LLC boosted its stake in BlackRock Investment Quality Municipal Trust by 8.6% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 12,654 shares of the company’s stock valued at $151,000 after acquiring an additional 1,000 shares during the last quarter. Koss Olinger Consulting LLC acquired a new position in BlackRock Investment Quality Municipal Trust in the second quarter worth about $180,000. Simplicity Wealth LLC bought a new stake in BlackRock Investment Quality Municipal Trust in the second quarter valued at about $185,000. NINE MASTS CAPITAL Ltd increased its holdings in BlackRock Investment Quality Municipal Trust by 7.5% in the second quarter. NINE MASTS CAPITAL Ltd now owns 21,369 shares of the company’s stock valued at $256,000 after buying an additional 1,497 shares during the last quarter. Finally, Primoris Wealth Advisors LLC raised its stake in BlackRock Investment Quality Municipal Trust by 15.6% during the first quarter. Primoris Wealth Advisors LLC now owns 44,500 shares of the company’s stock valued at $552,000 after buying an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 26.67% of the company’s stock.

BlackRock Investment Quality Municipal Trust Company Profile

BlackRock Investment Quality Municipal Trust Inc is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade municipal bonds municipal obligations exempt from federal income taxes.