BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) Sees Large Decline in Short Interest

BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 37,600 shares, a decline of 57.8% from the December 15th total of 89,200 shares. Based on an average daily volume of 40,300 shares, the days-to-cover ratio is currently 0.9 days.

Hedge Funds Weigh In On BlackRock Long-Term Municipal Advantage Trust

Several hedge funds and other institutional investors have recently modified their holdings of BTA. HBK Sorce Advisory LLC increased 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 acquiring an additional 1,980 shares during the period. PFG Investments LLC acquired a new position in shares of BlackRock Long-Term Municipal Advantage Trust during the third quarter valued at $131,000. Wolverine Asset Management LLC raised its stake in shares of BlackRock Long-Term Municipal Advantage Trust by 145.7% during the third quarter. Wolverine Asset Management LLC now owns 34,566 shares of the financial services provider’s stock valued at $371,000 after purchasing an additional 20,499 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in BlackRock Long-Term Municipal Advantage Trust in the third quarter worth about $120,000. Finally, Concorde Asset Management LLC grew its position in BlackRock Long-Term Municipal Advantage Trust by 12.4% in the 3rd quarter. Concorde Asset Management LLC now owns 12,577 shares of the financial services provider’s stock valued at $135,000 after buying an additional 1,392 shares in the last quarter.

BlackRock Long-Term Municipal Advantage Trust Price Performance

BTA traded down $0.01 on Tuesday, hitting $9.62. 39,418 shares of the company’s stock were exchanged, compared to its average volume of 43,965. The stock has a fifty day moving average of $10.25 and a two-hundred day moving average of $10.37. BlackRock Long-Term Municipal Advantage Trust has a twelve month low of $9.48 and a twelve month high of $11.10.

BlackRock Long-Term Municipal Advantage Trust Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be given a $0.0495 dividend. This represents a $0.59 annualized dividend and a yield of 6.17%. The ex-dividend date is Wednesday, January 15th.

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.