Short Interest in Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Increases By 41.3%

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 136,900 shares, a growth of 41.3% from the November 30th total of 96,900 shares. Based on an average daily volume of 176,500 shares, the days-to-cover ratio is currently 0.8 days.

Blackstone Strategic Credit 2027 Term Fund Price Performance

Shares of BGB traded down $0.03 during mid-day trading on Monday, hitting $12.20. 233,393 shares of the company’s stock were exchanged, compared to its average volume of 170,113. The company has a 50-day simple moving average of $12.39 and a 200 day simple moving average of $12.23. Blackstone Strategic Credit 2027 Term Fund has a 52 week low of $11.20 and a 52 week high of $12.69.

Blackstone Strategic Credit 2027 Term Fund Cuts Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be paid a $0.089 dividend. The ex-dividend date of this dividend is Monday, December 23rd. This represents a yield of 8.67%.

Hedge Funds Weigh In On Blackstone Strategic Credit 2027 Term Fund

A number of large investors have recently modified their holdings of BGB. Concurrent Investment Advisors LLC acquired a new position in shares of Blackstone Strategic Credit 2027 Term Fund during the 2nd quarter worth about $135,000. Catalina Capital Group LLC acquired a new stake in shares of Blackstone Strategic Credit 2027 Term Fund in the third quarter valued at approximately $144,000. Moors & Cabot Inc. lifted its position in shares of Blackstone Strategic Credit 2027 Term Fund by 22.7% in the third quarter. Moors & Cabot Inc. now owns 13,500 shares of the company’s stock valued at $166,000 after buying an additional 2,500 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Blackstone Strategic Credit 2027 Term Fund during the 2nd quarter worth approximately $194,000. Finally, Jane Street Group LLC bought a new stake in Blackstone Strategic Credit 2027 Term Fund in the 3rd quarter valued at $197,000.

Blackstone Strategic Credit 2027 Term Fund Company Profile

Blackstone Strategic Credit 2027 Term Fund is a close ended fixed income mutual fund launched and managed by GSO / Blackstone Debt Funds Management LLC. It invests in the fixed income markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in the loans and other fixed income instruments including first- and second-lien secured loans and high-yield corporate bonds of different maturities.