BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) Sees Significant Drop in Short Interest

BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 277,700 shares, a drop of 16.4% from the February 13th total of 332,100 shares. Based on an average daily volume of 491,900 shares, the short-interest ratio is currently 0.6 days.

BlackRock Enhanced Equity Dividend Trust Stock Performance

Shares of NYSE BDJ traded down $0.01 during trading hours on Wednesday, hitting $8.67. 436,100 shares of the company traded hands, compared to its average volume of 471,996. The company’s 50 day moving average price is $8.74 and its 200 day moving average price is $8.67. BlackRock Enhanced Equity Dividend Trust has a 12 month low of $7.80 and a 12 month high of $9.07.

BlackRock Enhanced Equity Dividend Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.0619 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.74 annualized dividend and a dividend yield of 8.57%. This is an increase from BlackRock Enhanced Equity Dividend Trust’s previous monthly dividend of $0.05.

Institutional Investors Weigh In On BlackRock Enhanced Equity Dividend Trust

Several institutional investors have recently made changes to their positions in BDJ. Comprehensive Money Management Services LLC purchased a new stake in BlackRock Enhanced Equity Dividend Trust in the fourth quarter worth $179,000. Shufro Rose & Co. LLC lifted its holdings in BlackRock Enhanced Equity Dividend Trust by 9.7% during the 4th quarter. Shufro Rose & Co. LLC now owns 33,862 shares of the investment management company’s stock valued at $280,000 after buying an additional 3,000 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in BlackRock Enhanced Equity Dividend Trust in the 4th quarter valued at about $74,000. Elequin Capital LP bought a new position in BlackRock Enhanced Equity Dividend Trust in the 4th quarter worth about $180,000. Finally, Waverly Advisors LLC increased its position in shares of BlackRock Enhanced Equity Dividend Trust by 653.5% during the fourth quarter. Waverly Advisors LLC now owns 115,274 shares of the investment management company’s stock worth $954,000 after acquiring an additional 99,976 shares during the period.

BlackRock Enhanced Equity Dividend Trust Company Profile

BlackRock Enhanced Equity Dividend Trust is a closed-ended equity mutual fund launched by BlackRock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in dividend paying stocks of companies across all market capitalizations.