Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Sees Significant Growth in Short Interest

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 145,300 shares, an increase of 124.9% from the August 31st total of 64,600 shares. Based on an average trading volume of 197,600 shares, the days-to-cover ratio is presently 0.7 days.

Blackstone Strategic Credit 2027 Term Fund Trading Down 0.4 %

Shares of NYSE:BGB traded down $0.05 during midday trading on Friday, reaching $12.26. The company had a trading volume of 170,927 shares, compared to its average volume of 167,392. The company has a fifty day simple moving average of $12.14 and a two-hundred day simple moving average of $11.99. Blackstone Strategic Credit 2027 Term Fund has a 1-year low of $10.47 and a 1-year high of $12.48.

Blackstone Strategic Credit 2027 Term Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.093 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.12 annualized dividend and a yield of 9.10%.

Hedge Funds Weigh In On Blackstone Strategic Credit 2027 Term Fund

A number of institutional investors have recently modified their holdings of the company. Wells Fargo & Company MN raised its position in Blackstone Strategic Credit 2027 Term Fund by 7.4% in the fourth quarter. Wells Fargo & Company MN now owns 1,115,569 shares of the company’s stock worth $12,628,000 after purchasing an additional 76,807 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Blackstone Strategic Credit 2027 Term Fund by 6.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 122,124 shares of the company’s stock valued at $1,382,000 after acquiring an additional 7,736 shares during the last quarter. Invictus Private Wealth LLC boosted its holdings in shares of Blackstone Strategic Credit 2027 Term Fund by 47.8% in the 4th quarter. Invictus Private Wealth LLC now owns 45,485 shares of the company’s stock worth $515,000 after acquiring an additional 14,714 shares in the last quarter. Accuvest Global Advisors bought a new stake in Blackstone Strategic Credit 2027 Term Fund during the 4th quarter worth approximately $168,000. Finally, Aristides Capital LLC acquired a new stake in Blackstone Strategic Credit 2027 Term Fund during the 4th quarter valued at $169,000.

Blackstone Strategic Credit 2027 Term Fund Company Profile

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.