BlackRock Health Sciences Term Trust (NYSE:BMEZ) Stock Price Down 1% – Here’s Why

BlackRock Health Sciences Term Trust (NYSE:BMEZ) was down 1% during mid-day trading on Wednesday . The stock traded as low as $15.52 and last traded at $15.59. 123,896 shares were traded during trading, a decline of 47% from the average session volume of 234,323 shares. The stock had previously closed at $15.74.

BlackRock Health Sciences Term Trust Trading Down 1.2%

The stock’s fifty day simple moving average is $14.57 and its 200 day simple moving average is $14.71.

BlackRock Health Sciences Term Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 8.5%.

Hedge Funds Weigh In On BlackRock Health Sciences Term Trust

A number of institutional investors have recently bought and sold shares of BMEZ. Rivernorth Capital Management LLC grew its holdings in BlackRock Health Sciences Term Trust by 24.8% during the first quarter. Rivernorth Capital Management LLC now owns 809,196 shares of the company’s stock valued at $11,620,000 after purchasing an additional 160,629 shares during the period. Saba Capital Management L.P. purchased a new stake in BlackRock Health Sciences Term Trust in the first quarter worth about $10,907,000. Lazard Asset Management LLC raised its stake in shares of BlackRock Health Sciences Term Trust by 64.2% in the first quarter. Lazard Asset Management LLC now owns 621,604 shares of the company’s stock worth $8,926,000 after buying an additional 243,054 shares during the period. Quantedge Capital Pte Ltd raised its stake in shares of BlackRock Health Sciences Term Trust by 85.0% in the first quarter. Quantedge Capital Pte Ltd now owns 135,854 shares of the company’s stock worth $1,951,000 after buying an additional 62,400 shares during the period. Finally, PNC Financial Services Group Inc. purchased a new position in shares of BlackRock Health Sciences Term Trust during the 1st quarter valued at about $35,000.

About BlackRock Health Sciences Term Trust

BlackRock Health Sciences Term Trust (NYSE: BMEZ) is a closed-end management investment company organized as a Delaware statutory trust. Launched in March 2020, BMEZ seeks to provide total return through a combination of current income and capital appreciation by investing primarily in equity and equity-related securities of companies in the health sciences sector. The trust is structured with a fixed termination date in October 2030, at which time shareholders will vote on its liquidation, extension or conversion.

The fund’s investment portfolio is diversified across subsectors within health sciences, including biotechnology, pharmaceuticals, medical devices, diagnostics and healthcare services.