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

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) saw a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 50,742 shares, a drop of 62.5% from the June 30th total of 135,414 shares. Based on an average trading volume of 118,098 shares, the days-to-cover ratio is presently 0.4 days.

Hedge Funds Weigh In On Blackstone Strategic Credit 2027 Term Fund

Several hedge funds have recently bought and sold shares of BGB. Eagle Bay Advisors LLC purchased a new position in shares of Blackstone Strategic Credit 2027 Term Fund in the fourth quarter valued at $33,000. Kestra Advisory Services LLC purchased a new stake in Blackstone Strategic Credit 2027 Term Fund during the 4th quarter worth about $35,000. Adalta Capital Management LLC purchased a new stake in Blackstone Strategic Credit 2027 Term Fund during the 4th quarter worth about $119,000. Comerica Bank raised its stake in Blackstone Strategic Credit 2027 Term Fund by 32.9% in the 4th quarter. Comerica Bank now owns 10,478 shares of the company’s stock valued at $123,000 after purchasing an additional 2,595 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new position in Blackstone Strategic Credit 2027 Term Fund in the 1st quarter valued at about $118,000.

Blackstone Strategic Credit 2027 Term Fund Stock Performance

Shares of NYSE BGB opened at $11.20 on Monday. Blackstone Strategic Credit 2027 Term Fund has a one year low of $10.85 and a one year high of $12.65. The company’s fifty day moving average is $11.31 and its two-hundred day moving average is $11.40.

Blackstone Strategic Credit 2027 Term Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 24th will be paid a $0.076 dividend. The ex-dividend date is Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 8.1%.

Blackstone Strategic Credit 2027 Term Fund Company Profile

Blackstone Strategic Credit 2027 Term Fund (NYSE: BGB) is a closed-end management investment company organized as an interval fund, designed to provide investors with exposure to a diversified portfolio of credit instruments. The fund commenced operations in late 2020 and is structured with a defined term ending in 2027, at which point it intends to liquidate its assets and distribute proceeds to shareholders. As an interval fund, BGB offers limited redemption opportunities on a quarterly basis, allowing for greater investment flexibility while maintaining portfolio stability.

The fund’s primary business activity involves investing across the credit spectrum, including senior secured loans, high-yield and investment-grade corporate bonds, structured credit, and direct lending opportunities.