Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Sees Significant Increase in Short Interest

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) was the target of a significant growth in short interest in November. As of November 30th, there was short interest totalling 96,900 shares, a growth of 17.7% from the November 15th total of 82,300 shares. Based on an average daily volume of 177,300 shares, the days-to-cover ratio is currently 0.5 days.

Blackstone Strategic Credit 2027 Term Fund Price Performance

Blackstone Strategic Credit 2027 Term Fund stock traded down $0.01 during mid-day trading on Monday, reaching $12.60. 56,639 shares of the company’s stock were exchanged, compared to its average volume of 168,125. Blackstone Strategic Credit 2027 Term Fund has a twelve month low of $11.19 and a twelve month high of $12.69. The company has a fifty day moving average of $12.41 and a 200-day moving average of $12.20.

Institutional Trading of Blackstone Strategic Credit 2027 Term Fund

Several hedge funds have recently modified their holdings of BGB. Comerica Bank increased 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 worth $66,000 after purchasing an additional 1,338 shares during the period. Concurrent Investment Advisors LLC purchased a new position in shares of Blackstone Strategic Credit 2027 Term Fund in the 2nd quarter valued at about $135,000. Catalina Capital Group LLC acquired a new position in shares of Blackstone Strategic Credit 2027 Term Fund during the third quarter worth about $144,000. Moors & Cabot Inc. increased its stake in shares of Blackstone Strategic Credit 2027 Term Fund by 22.7% during the third quarter. Moors & Cabot Inc. now owns 13,500 shares of the company’s stock worth $166,000 after buying an additional 2,500 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Blackstone Strategic Credit 2027 Term Fund in the third quarter valued at approximately $197,000.

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.