BlackRock Health Sciences Term Trust (NYSE:BMEZ) Sees Large Growth in Short Interest

BlackRock Health Sciences Term Trust (NYSE:BMEZ) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 63,000 shares, a growth of 112.8% from the October 31st total of 29,600 shares. Based on an average trading volume of 216,800 shares, the days-to-cover ratio is presently 0.3 days.

BlackRock Health Sciences Term Trust Stock Up 1.0 %

BMEZ stock traded up 0.16 during trading on Thursday, reaching 15.56. 401,300 shares of the stock were exchanged, compared to its average volume of 267,842. BlackRock Health Sciences Term Trust has a twelve month low of 13.72 and a twelve month high of 16.59. The stock has a 50 day simple moving average of 15.66 and a 200-day simple moving average of 15.59.

BlackRock Health Sciences Term Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.1769 per share. This represents a $2.12 annualized dividend and a dividend yield of 13.64%. The ex-dividend date of this dividend is Friday, November 15th.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. acquired 29,795 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were bought at an average price of 15.81 per share, for a total transaction of 471,058.95. Following the acquisition, the insider now owns 20,750,913 shares in the company, valued at 328,071,934.53. This trade represents a 0.14 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders acquired 99,630 shares of company stock valued at $1,585,113.

Institutional Trading of BlackRock Health Sciences Term Trust

Institutional investors and hedge funds have recently modified their holdings of the company. K2 Principal Fund L.P. bought a new position in BlackRock Health Sciences Term Trust in the third quarter worth $158,000. Jane Street Group LLC bought a new position in shares of BlackRock Health Sciences Term Trust during the 3rd quarter worth about $357,000. Stifel Financial Corp lifted its holdings in shares of BlackRock Health Sciences Term Trust by 2.2% during the 3rd quarter. Stifel Financial Corp now owns 414,346 shares of the company’s stock worth $6,563,000 after acquiring an additional 8,843 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in shares of BlackRock Health Sciences Term Trust during the 3rd quarter valued at about $32,000. Finally, Penserra Capital Management LLC acquired a new position in BlackRock Health Sciences Term Trust in the third quarter worth about $15,390,000.

BlackRock Health Sciences Term Trust Company Profile

BlackRock Health Sciences Trust II’s (BMEZ) (the ‘Trust’) investment objective is to provide total return and income through a combination of current income, current gains and long-term capital appreciation. The Trust seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its total assets in equity securities of companies principally engaged in the health sciences group of industries and equity derivatives with exposure to the health sciences group of industries.