Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Short Interest Down 31.5% in February

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) saw a large decrease in short interest in February. As of February 28th, there was short interest totalling 276,100 shares, a decrease of 31.5% from the February 13th total of 402,800 shares. Based on an average daily trading volume, of 203,800 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Investors Weigh In On Blackstone Strategic Credit 2027 Term Fund

Large investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in shares of Blackstone Strategic Credit 2027 Term Fund by 104.7% during the 4th quarter. Bank of America Corp DE now owns 2,336,627 shares of the company’s stock worth $28,577,000 after buying an additional 1,195,382 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Blackstone Strategic Credit 2027 Term Fund by 64.7% during the fourth quarter. Advisors Asset Management Inc. now owns 739,054 shares of the company’s stock valued at $9,039,000 after acquiring an additional 290,237 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Blackstone Strategic Credit 2027 Term Fund in the 4th quarter valued at $3,391,000. Pathstone Holdings LLC grew its holdings in shares of Blackstone Strategic Credit 2027 Term Fund by 15.3% in the 3rd quarter. Pathstone Holdings LLC now owns 1,891,571 shares of the company’s stock worth $23,305,000 after purchasing an additional 251,419 shares during the last quarter. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of Blackstone Strategic Credit 2027 Term Fund during the 4th quarter worth about $1,057,000.

Blackstone Strategic Credit 2027 Term Fund Price Performance

Shares of NYSE:BGB traded up $0.08 during midday trading on Monday, reaching $12.11. 140,261 shares of the company’s stock were exchanged, compared to its average volume of 180,196. The company’s 50 day simple moving average is $12.34 and its two-hundred day simple moving average is $12.36. Blackstone Strategic Credit 2027 Term Fund has a 12 month low of $11.58 and a 12 month high of $12.69.

Blackstone Strategic Credit 2027 Term Fund Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 22nd will be issued a dividend of $0.089 per share. This represents a $1.07 dividend on an annualized basis and a yield of 8.82%. The ex-dividend date is Thursday, May 22nd.

About Blackstone Strategic Credit 2027 Term Fund

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.