BlackRock Health Sciences Term Trust (NYSE:BMEZ) Sees Significant Drop in Short Interest

BlackRock Health Sciences Term Trust (NYSE:BMEZ) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 30,094 shares, a drop of 62.5% from the August 15th total of 80,226 shares. Based on an average daily volume of 170,903 shares, the days-to-cover ratio is currently 0.2 days.

BlackRock Health Sciences Term Trust Stock Performance

BlackRock Health Sciences Term Trust stock traded down $0.09 during trading on Friday, reaching $16.47. 173,653 shares of the company were exchanged, compared to its average volume of 210,089. BlackRock Health Sciences Term Trust has a 52-week low of $13.70 and a 52-week high of $17.25. The stock’s 50 day simple moving average is $16.07 and its two-hundred day simple moving average is $15.00.

BlackRock Health Sciences Term Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a c) dividend on an annualized basis and a dividend yield of 8.0%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Kestra Advisory Services LLC purchased a new stake in shares of BlackRock Health Sciences Term Trust in the fourth quarter valued at about $26,000. SouthState Bank Corp purchased a new position in BlackRock Health Sciences Term Trust during the first quarter worth about $29,000. PNC Financial Services Group Inc. purchased a new position in BlackRock Health Sciences Term Trust during the first quarter worth about $35,000. Geneos Wealth Management Inc. purchased a new position in BlackRock Health Sciences Term Trust during the first quarter worth about $40,000. Finally, Integrated Wealth Concepts LLC acquired a new position in BlackRock Health Sciences Term Trust in the 2nd quarter valued at about $46,000.

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.