BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) Stock Price Crosses Above 50-Day Moving Average – Time to Sell?

BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $9.05 and traded as high as $9.27. BlackRock Enhanced Equity Dividend Trust shares last traded at $9.2550, with a volume of 348,397 shares.

BlackRock Enhanced Equity Dividend Trust Stock Down 1.1%

The firm’s 50 day moving average price is $9.06 and its 200-day moving average price is $9.22.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC raised its holdings in shares of BlackRock Enhanced Equity Dividend Trust by 2.2% during the first quarter. NewEdge Advisors LLC now owns 131,321 shares of the investment management company’s stock valued at $1,132,000 after purchasing an additional 2,811 shares during the last quarter. Axiom Investment Management LLC purchased a new position in shares of BlackRock Enhanced Equity Dividend Trust during the first quarter valued at approximately $39,000. Boothe Investment Group Inc. raised its holdings in shares of BlackRock Enhanced Equity Dividend Trust by 5.7% during the first quarter. Boothe Investment Group Inc. now owns 558,077 shares of the investment management company’s stock valued at $4,811,000 after purchasing an additional 30,111 shares during the last quarter. Western Wealth Management LLC purchased a new position in shares of BlackRock Enhanced Equity Dividend Trust during the first quarter valued at approximately $28,000. Finally, Royal Bank of Canada raised its holdings in shares of BlackRock Enhanced Equity Dividend Trust by 2.2% during the first quarter. Royal Bank of Canada now owns 873,561 shares of the investment management company’s stock valued at $7,529,000 after purchasing an additional 18,520 shares during the last quarter.

About BlackRock Enhanced Equity Dividend Trust

BlackRock Enhanced Equity Dividend Trust (NYSE: BDJ) is a closed-end management investment company that seeks to provide current income and capital appreciation by investing primarily in dividend-paying equity securities. The trust pursues an enhanced dividend strategy, focusing on U.S. large-capitalization common stocks with a history of dividend payments. To augment income generation, BDJ may also employ an option overlay strategy, writing covered call options on select securities or indices.

Since commencing operations in 2006, BDJ has been advised by BlackRock Fund Advisors, one of the world’s largest asset managers.