BlackRock Energy and Resources Trust (NYSE:BGR) Sees Significant Drop in Short Interest

BlackRock Energy and Resources Trust (NYSE:BGR) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 70,600 shares, a drop of 51.7% from the February 13th total of 146,300 shares. Based on an average daily trading volume, of 96,000 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Investors Weigh In On BlackRock Energy and Resources Trust

A number of hedge funds have recently added to or reduced their stakes in the stock. Elequin Capital LP bought a new stake in BlackRock Energy and Resources Trust in the fourth quarter valued at $41,000. Waverly Advisors LLC bought a new stake in shares of BlackRock Energy and Resources Trust during the fourth quarter valued at about $208,000. Saba Capital Management L.P. bought a new position in BlackRock Energy and Resources Trust in the 4th quarter valued at about $603,000. Stifel Financial Corp increased its stake in BlackRock Energy and Resources Trust by 4.9% during the 4th quarter. Stifel Financial Corp now owns 31,769 shares of the company’s stock valued at $401,000 after buying an additional 1,491 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of BlackRock Energy and Resources Trust during the 4th quarter worth about $4,869,000.

BlackRock Energy and Resources Trust Stock Performance

BGR stock traded up $0.21 during mid-day trading on Friday, reaching $13.11. The company had a trading volume of 33,407 shares, compared to its average volume of 86,891. BlackRock Energy and Resources Trust has a one year low of $12.10 and a one year high of $13.94. The stock’s 50-day simple moving average is $13.30 and its two-hundred day simple moving average is $13.14.

BlackRock Energy and Resources Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.0973 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 8.91%. The ex-dividend date is Friday, March 14th.

BlackRock Energy and Resources Trust Company Profile

BlackRock Energy and Resources Trust is a closed-ended equity mutual fund launched by BlackRock, Inc The fund is co-managed by BlackRock Advisors, LLC and BlackRock International Limited. It invests in public equity markets across the globe, with an emphasis on the United States. The fund seeks to invest in stocks of companies operating in the energy and natural resources sectors.