Rivernorth Capital Management LLC Grows Stake in BlackRock Taxable Municipal Bond Trust $BBN

Rivernorth Capital Management LLC raised its holdings in shares of BlackRock Taxable Municipal Bond Trust (NYSE:BBN) by 594.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,622,646 shares of the investment management company’s stock after purchasing an additional 1,389,024 shares during the period. BlackRock Taxable Municipal Bond Trust accounts for approximately 1.2% of Rivernorth Capital Management LLC’s investment portfolio, making the stock its 16th biggest holding. Rivernorth Capital Management LLC’s holdings in BlackRock Taxable Municipal Bond Trust were worth $26,238,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Garton & Associates Financial Advisors LLC purchased a new position in BlackRock Taxable Municipal Bond Trust during the 4th quarter worth $36,000. PNC Financial Services Group Inc. purchased a new stake in BlackRock Taxable Municipal Bond Trust in the first quarter valued at about $39,000. Western Wealth Management LLC acquired a new stake in BlackRock Taxable Municipal Bond Trust in the first quarter worth about $49,000. Farther Finance Advisors LLC boosted its holdings in BlackRock Taxable Municipal Bond Trust by 99.2% in the fourth quarter. Farther Finance Advisors LLC now owns 6,276 shares of the investment management company’s stock worth $102,000 after acquiring an additional 3,126 shares in the last quarter. Finally, Arkadios Wealth Advisors purchased a new stake in shares of BlackRock Taxable Municipal Bond Trust during the first quarter worth about $173,000.

BlackRock Taxable Municipal Bond Trust Stock Performance

BBN opened at $15.86 on Monday. BlackRock Taxable Municipal Bond Trust has a 52-week low of $15.47 and a 52-week high of $17.45. The firm’s 50-day moving average price is $15.91 and its 200-day moving average price is $16.06.

BlackRock Taxable Municipal Bond Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.0986 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 7.5%.

BlackRock Taxable Municipal Bond Trust Company Profile

The BlackRock Taxable Municipal Bond Trust (NYSE:BBN) is a closed-end management investment company that seeks to provide current income and preservation of capital through a diversified portfolio of taxable municipal debt securities. Advisement and portfolio management services are provided by BlackRock Advisors, LLC, leveraging the firm’s global credit research and trading capabilities to analyze risk and identify opportunities within the municipal bond sector.

Since its inception in 1989, BBN has invested primarily in investment-grade and non-investment-grade municipal obligations issued by U.S.