BlackRock Taxable Municipal Bond Trust (NYSE:BBN) Share Price Breaks Below 200-Day Moving Average – Time to Sell?

BlackRock Taxable Municipal Bond Trust (NYSE:BBN) shares crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $15.84 and traded as low as $14.30. BlackRock Taxable Municipal Bond Trust shares last traded at $14.3920, with a volume of 358,716 shares traded.

BlackRock Taxable Municipal Bond Trust Stock Up 0.0%

The company has a fifty day moving average of $15.49 and a 200-day moving average of $15.83.

BlackRock Taxable Municipal Bond Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be given a $0.0986 dividend. This represents a $1.18 annualized dividend and a dividend yield of 8.2%. The ex-dividend date is Friday, December 11th.

Institutional Trading of BlackRock Taxable Municipal Bond Trust

Several large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. purchased a new position in BlackRock Taxable Municipal Bond Trust in the 1st quarter valued at $39,000. Western Wealth Management LLC purchased a new stake in shares of BlackRock Taxable Municipal Bond Trust during the first quarter worth $49,000. Arkadios Wealth Advisors acquired a new stake in shares of BlackRock Taxable Municipal Bond Trust in the first quarter valued at about $173,000. Nwam LLC acquired a new stake in shares of BlackRock Taxable Municipal Bond Trust in the first quarter valued at about $178,000. Finally, Fifth Third Bancorp raised its position in shares of BlackRock Taxable Municipal Bond Trust by 1,019.8% in the first quarter. Fifth Third Bancorp now owns 11,198 shares of the investment management company’s stock valued at $181,000 after buying an additional 10,198 shares during the last quarter.

BlackRock Taxable Municipal Bond Trust Company Profile

BlackRock Taxable Municipal Bond Trust (NYSE: BBN) is a closed-end management investment company sponsored and managed by BlackRock. The trust seeks to provide current income and, to a lesser extent, capital appreciation by investing primarily in taxable municipal obligations issued by states, cities, counties, public authorities and other governmental entities.

Unlike traditional municipal bond funds that generally emphasize federally tax-exempt securities, BBN focuses on taxable municipal bonds.