Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Sees Large Increase in Short Interest

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 174,373 shares, a growth of 224.1% from the September 15th total of 53,800 shares. Based on an average daily volume of 214,468 shares, the days-to-cover ratio is currently 0.8 days.

Blackstone Strategic Credit 2027 Term Fund Price Performance

NYSE BGB traded down $0.03 on Tuesday, hitting $11.06. 131,236 shares of the company were exchanged, compared to its average volume of 148,083. The company’s 50 day moving average price is $11.20 and its 200-day moving average price is $11.26. Blackstone Strategic Credit 2027 Term Fund has a twelve month low of $10.85 and a twelve month high of $12.01.

Blackstone Strategic Credit 2027 Term Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be given a $0.0740 dividend. This represents a $0.89 annualized dividend and a dividend yield of 8.0%. The ex-dividend date of this dividend is Friday, November 20th.

Institutional Investors Weigh In On Blackstone Strategic Credit 2027 Term Fund

Several hedge funds have recently made changes to their positions in the company. Sit Investment Associates Inc. raised its stake in Blackstone Strategic Credit 2027 Term Fund by 141.9% during the 4th quarter. Sit Investment Associates Inc. now owns 2,025,340 shares of the company’s stock valued at $23,859,000 after purchasing an additional 1,188,021 shares during the period. Bank of America Corp DE boosted its position in shares of Blackstone Strategic Credit 2027 Term Fund by 2.2% in the first quarter. Bank of America Corp DE now owns 1,973,911 shares of the company’s stock worth $22,009,000 after buying an additional 42,416 shares during the period. Elevation Point Wealth Partners LLC boosted its position in shares of Blackstone Strategic Credit 2027 Term Fund by 3.6% in the first quarter. Elevation Point Wealth Partners LLC now owns 262,620 shares of the company’s stock worth $2,928,000 after buying an additional 9,219 shares during the period. Robbins Farley grew its holdings in shares of Blackstone Strategic Credit 2027 Term Fund by 13.2% during the second quarter. Robbins Farley now owns 241,957 shares of the company’s stock valued at $2,734,000 after buying an additional 28,279 shares in the last quarter. Finally, Calamos Advisors LLC grew its holdings in shares of Blackstone Strategic Credit 2027 Term Fund by 13.5% during the first quarter. Calamos Advisors LLC now owns 34,943 shares of the company’s stock valued at $390,000 after buying an additional 4,160 shares in the last quarter.

Blackstone Strategic Credit 2027 Term Fund Company Profile

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) is a closed-end investment fund managed by Blackstone Credit & Insurance, part of Blackstone. The fund seeks to provide investors with current income and capital preservation by investing primarily in credit-related assets.

The fund’s portfolio may include senior secured loans, high-yield bonds, corporate debt, structured credit instruments and other fixed-income securities. It can invest across industries and geographies, with an emphasis on the U.S.