Rivernorth Capital Management LLC Takes $3.78 Million Position in BlackRock Taxable Municipal Bond Trust $BBN

Rivernorth Capital Management LLC bought a new position in BlackRock Taxable Municipal Bond Trust (NYSE:BBN) in the 1st quarter, HoldingsChannel reports. The fund bought 233,622 shares of the investment management company’s stock, valued at approximately $3,778,000.

A number of other institutional investors and hedge funds have also modified their holdings of BBN. Oppenheimer & Co. Inc. raised its position in BlackRock Taxable Municipal Bond Trust by 3.2% during the fourth quarter. Oppenheimer & Co. Inc. now owns 21,891 shares of the investment management company’s stock valued at $357,000 after buying an additional 674 shares during the period. Addison Capital Co lifted its stake in BlackRock Taxable Municipal Bond Trust by 2.0% in the 1st quarter. Addison Capital Co now owns 35,836 shares of the investment management company’s stock worth $579,000 after acquiring an additional 693 shares in the last quarter. Delta Financial Advisors LLC boosted its position in BlackRock Taxable Municipal Bond Trust by 4.6% during the 4th quarter. Delta Financial Advisors LLC now owns 16,980 shares of the investment management company’s stock worth $277,000 after acquiring an additional 750 shares during the period. Oder Investment Management LLC boosted its position in BlackRock Taxable Municipal Bond Trust by 3.2% during the 1st quarter. Oder Investment Management LLC now owns 35,152 shares of the investment management company’s stock worth $568,000 after acquiring an additional 1,097 shares during the period. Finally, Comprehensive Money Management Services LLC grew its stake in BlackRock Taxable Municipal Bond Trust by 6.3% during the 1st quarter. Comprehensive Money Management Services LLC now owns 21,095 shares of the investment management company’s stock valued at $341,000 after acquiring an additional 1,250 shares in the last quarter.

BlackRock Taxable Municipal Bond Trust Stock Up 0.6%

NYSE:BBN opened at $15.81 on Wednesday. BlackRock Taxable Municipal Bond Trust has a fifty-two week low of $15.47 and a fifty-two week high of $17.45. The stock’s 50-day moving average is $15.95 and its two-hundred day moving average is $16.13.

BlackRock Taxable Municipal Bond Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.0986 per share. This represents a c) annualized dividend and a dividend yield of 7.5%. The ex-dividend date is Tuesday, September 15th.

BlackRock Taxable Municipal Bond Trust Profile

The BlackRock Taxable Municipal Bond Trust (NYSE:BBN) is a closed-end management investment company that seeks to provide current income and preservation of capital through a diversified portfolio of taxable municipal debt securities. Advisement and portfolio management services are provided by BlackRock Advisors, LLC, leveraging the firm’s global credit research and trading capabilities to analyze risk and identify opportunities within the municipal bond sector.

Since its inception in 1989, BBN has invested primarily in investment-grade and non-investment-grade municipal obligations issued by U.S.