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

BlackRock Investment Quality Municipal Trust Inc. (NYSE:BKN - Get Free Report) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totalling 45,500 shares, an increase of 132.1% from the September 30th total of 19,600 shares. Based on an average daily trading volume, of 51,700 shares, the short-interest ratio is currently 0.9 days.

Institutional Investors Weigh In On BlackRock Investment Quality Municipal Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Moloney Securities Asset Management LLC boosted its stake in BlackRock Investment Quality Municipal Trust by 8.6% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 12,654 shares of the company's stock worth $151,000 after purchasing an additional 1,000 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of BlackRock Investment Quality Municipal Trust by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 65,539 shares of the company's stock worth $784,000 after acquiring an additional 1,411 shares in the last quarter. NINE MASTS CAPITAL Ltd raised its holdings in shares of BlackRock Investment Quality Municipal Trust by 7.5% during the 2nd quarter. NINE MASTS CAPITAL Ltd now owns 21,369 shares of the company's stock worth $256,000 after acquiring an additional 1,497 shares in the last quarter. Cetera Advisors LLC raised its holdings in shares of BlackRock Investment Quality Municipal Trust by 4.9% during the 1st quarter. Cetera Advisors LLC now owns 54,551 shares of the company's stock worth $677,000 after acquiring an additional 2,562 shares in the last quarter. Finally, Primoris Wealth Advisors LLC raised its holdings in shares of BlackRock Investment Quality Municipal Trust by 15.6% during the 1st quarter. Primoris Wealth Advisors LLC now owns 44,500 shares of the company's stock worth $552,000 after acquiring an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 26.67% of the company's stock.

BlackRock Investment Quality Municipal Trust Price Performance

Shares of BKN traded down $0.03 during trading hours on Friday, hitting $12.59. The company had a trading volume of 14,656 shares, compared to its average volume of 45,157. The firm has a fifty day moving average price of $12.71 and a 200-day moving average price of $12.27. BlackRock Investment Quality Municipal Trust has a 52-week low of $9.62 and a 52-week high of $13.16.

BlackRock Investment Quality Municipal Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be given a $0.057 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date is Tuesday, October 15th.

BlackRock Investment Quality Municipal Trust Company Profile

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.