BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) Shares Cross Above 50-Day Moving Average – Here’s What Happened

BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $9.62 and traded as high as $9.74. BlackRock Long-Term Municipal Advantage Trust shares last traded at $9.7260, with a volume of 53,250 shares trading hands.

BlackRock Long-Term Municipal Advantage Trust Stock Down 0.0%

The firm has a 50 day moving average price of $9.63 and a two-hundred day moving average price of $9.52.

BlackRock Long-Term Municipal Advantage Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, March 2nd. Stockholders of record on Friday, February 6th were paid a dividend of $0.0495 per share. This represents a c) annualized dividend and a dividend yield of 6.1%. The ex-dividend date was Friday, February 6th.

Institutional Investors Weigh In On BlackRock Long-Term Municipal Advantage Trust

A number of institutional investors have recently modified their holdings of the business. Sit Investment Associates Inc. raised its stake in shares of BlackRock Long-Term Municipal Advantage Trust by 102.0% during the fourth quarter. Sit Investment Associates Inc. now owns 743,577 shares of the financial services provider’s stock valued at $6,900,000 after purchasing an additional 375,419 shares in the last quarter. Rivernorth Capital Management LLC grew its holdings in BlackRock Long-Term Municipal Advantage Trust by 51.9% during the fourth quarter. Rivernorth Capital Management LLC now owns 451,466 shares of the financial services provider’s stock worth $4,190,000 after acquiring an additional 154,316 shares during the period. Royal Bank of Canada grew its holdings in BlackRock Long-Term Municipal Advantage Trust by 20.8% during the fourth quarter. Royal Bank of Canada now owns 89,686 shares of the financial services provider’s stock worth $832,000 after acquiring an additional 15,417 shares during the period. Wells Fargo & Company MN raised its holdings in shares of BlackRock Long-Term Municipal Advantage Trust by 2.9% in the 4th quarter. Wells Fargo & Company MN now owns 195,775 shares of the financial services provider’s stock worth $1,817,000 after purchasing an additional 5,527 shares in the last quarter. Finally, LPL Financial LLC lifted its position in shares of BlackRock Long-Term Municipal Advantage Trust by 53.2% during the 4th quarter. LPL Financial LLC now owns 31,185 shares of the financial services provider’s stock valued at $289,000 after acquiring an additional 10,824 shares during the last quarter.

About BlackRock Long-Term Municipal Advantage Trust

BlackRock Long-Term Municipal Advantage Trust (NYSE: BTA) is a closed-end management investment company that seeks to provide current income exempt from federal income taxes. Since its inception in December 2009, the trust has offered investors exposure to a diversified portfolio of long-term municipal securities, with the goal of delivering favorable risk-adjusted returns through a focus on tax-exempt income.

The trust’s investment strategy centers on purchasing investment-grade municipal bonds carrying longer maturities, which historically have offered higher yields compared with shorter-duration issues.