BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) Sees Large Decline in Short Interest

BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totalling 18,900 shares, a decline of 62.2% from the May 31st total of 50,000 shares. Based on an average daily volume of 35,700 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On BlackRock Investment Quality Municipal Trust

Several institutional investors and hedge funds have recently modified their holdings of BKN. Robinson Capital Management LLC grew its stake in BlackRock Investment Quality Municipal Trust by 517.1% during the fourth quarter. Robinson Capital Management LLC now owns 252,510 shares of the company’s stock worth $3,012,000 after buying an additional 211,594 shares in the last quarter. AQR Arbitrage LLC grew its stake in BlackRock Investment Quality Municipal Trust by 132.6% during the third quarter. AQR Arbitrage LLC now owns 132,436 shares of the company’s stock worth $1,340,000 after buying an additional 75,511 shares in the last quarter. Fiera Capital Corp grew its stake in BlackRock Investment Quality Municipal Trust by 12.6% during the fourth quarter. Fiera Capital Corp now owns 334,999 shares of the company’s stock worth $3,973,000 after buying an additional 37,371 shares in the last quarter. Koshinski Asset Management Inc. grew its stake in BlackRock Investment Quality Municipal Trust by 144.6% during the fourth quarter. Koshinski Asset Management Inc. now owns 33,355 shares of the company’s stock worth $396,000 after buying an additional 19,718 shares in the last quarter. Finally, Beacon Pointe Advisors LLC acquired a new stake in BlackRock Investment Quality Municipal Trust during the fourth quarter worth about $145,000. 26.67% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Investment Quality Municipal Trust Price Performance

Shares of BKN stock opened at $11.97 on Friday. The company’s fifty day simple moving average is $11.99 and its 200-day simple moving average is $12.00. BlackRock Investment Quality Municipal Trust has a 12 month low of $9.57 and a 12 month high of $12.69.

BlackRock Investment Quality Municipal Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.057 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.68 annualized dividend and a dividend yield of 5.71%.

About BlackRock Investment Quality Municipal Trust

BlackRock Investment Quality Municipal Trust Inc is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in investment grade municipal bonds municipal obligations exempt from federal income taxes.