BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) Short Interest Down 5.1% in August

BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 33,700 shares, a drop of 5.1% from the August 15th total of 35,500 shares. Based on an average daily trading volume, of 28,200 shares, the days-to-cover ratio is currently 1.2 days.

BlackRock Long-Term Municipal Advantage Trust Price Performance

NYSE:BTA opened at $10.65 on Thursday. BlackRock Long-Term Municipal Advantage Trust has a one year low of $8.59 and a one year high of $10.97. The firm has a 50-day moving average of $10.43 and a 200-day moving average of $10.18.

BlackRock Long-Term Municipal Advantage Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be paid a $0.0495 dividend. This represents a $0.59 annualized dividend and a dividend yield of 5.58%. The ex-dividend date of this dividend is Tuesday, October 15th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. HBK Sorce Advisory LLC raised its position in BlackRock Long-Term Municipal Advantage Trust by 8.1% in the 2nd quarter. HBK Sorce Advisory LLC now owns 26,375 shares of the financial services provider’s stock valued at $267,000 after buying an additional 1,980 shares during the last quarter. Wolverine Asset Management LLC lifted its position in shares of BlackRock Long-Term Municipal Advantage Trust by 33.7% during the second quarter. Wolverine Asset Management LLC now owns 14,067 shares of the financial services provider’s stock valued at $142,000 after purchasing an additional 3,542 shares in the last quarter. Van ECK Associates Corp boosted its holdings in BlackRock Long-Term Municipal Advantage Trust by 9.5% during the second quarter. Van ECK Associates Corp now owns 67,732 shares of the financial services provider’s stock worth $686,000 after purchasing an additional 5,892 shares during the last quarter. Rothschild Investment LLC bought a new stake in BlackRock Long-Term Municipal Advantage Trust in the 2nd quarter worth about $33,000. Finally, Tyche Wealth Partners LLC increased its stake in BlackRock Long-Term Municipal Advantage Trust by 3.5% in the 2nd quarter. Tyche Wealth Partners LLC now owns 41,299 shares of the financial services provider’s stock valued at $418,000 after buying an additional 1,395 shares during the last quarter.

About BlackRock Long-Term Municipal Advantage Trust

BlackRock Long-Term Municipal Advantage Trust 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 of the United States. It uses financial derivatives to invest in municipal obligations. The fund primarily invests in long-term municipal bonds with a maturity of more than ten years at the time of investment.