Trading volume for Blackrock Preferred was 366K in the last trading session. Shares saw a steep increase in trading volume of 113.29% over the normal average daily volume.
Investors are feeling more bearish on Blackrock Preferred recently if you watch the motion in short interest. The stock saw a rise in short interest of 26.95% as of the latest report on October 31, 2017. Short shares grew 7,951 over that timeframe. Days to cover decreased from 0.0 to 0.0 and the percentage of shorted shares is 0.00% as of October 31.
Here are a few substantial investment firms who have updated their positions. As of the end of the quarter Blackrock Inc. had acquired 1,332 shares growing its position 0.5%. The value of the investment in BTZ increased from $3,406,000 to $3,455,000 a change of $49,000 for the reporting period. As of quarter end First Foundation Advisors had bought a total of 92,104 shares growing its holdings by 46.9%. The value of the total investment in Blackrock Preferred went from $2,643,000 to $3,917,000 a change of 48.2% quarter to quarter.
As of quarter end Edgemoor Investment Advisors, Inc. had sold a total of 6,988 shares trimming its stake by 0.9%. The value of the company’s investment in Blackrock Preferred went from $10,265,000 to $10,262,000 decreasing 0.0% since the last quarter. As of quarter end Relative Value Partners Group, LLC had disposed of a total of 100,050 shares trimming its position 4.9%. The value in dollars went from $27,728,000 to $26,618,000 a change of 4.0% quarter over quarter.
In the market the company is trading up by 0.69% since yesterday’s close of 13.06. The most current P/E ratio is N/A and market capitalization is 1.40B.
BlackRock Preferred and Equity Trust (the Trust) is a non-diversified, closed-end management investment company. The Trust’s investment objective is to seek current income, current gains and capital appreciation. The Trust’s investment advisor is BlackRock Advisors, LLC, and the Trust’s sub-advisors are BlackRock Financial Management, Inc. and BlackRock Investment Management, LLC..