Raymond James Financial Inc. Takes $2.05 Million Position in BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA)

Raymond James Financial Inc. purchased a new stake in BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 209,792 shares of the financial services provider’s stock, valued at approximately $2,048,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stratos Investment Management LLC acquired a new stake in shares of BlackRock Long-Term Municipal Advantage Trust during the fourth quarter worth $163,000. Van ECK Associates Corp increased its position in shares of BlackRock Long-Term Municipal Advantage Trust by 2.8% during the fourth quarter. Van ECK Associates Corp now owns 68,884 shares of the financial services provider’s stock worth $672,000 after acquiring an additional 1,845 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. bought a new stake in BlackRock Long-Term Municipal Advantage Trust during the fourth quarter worth $1,432,000.

BlackRock Long-Term Municipal Advantage Trust Stock Performance

BTA opened at $9.71 on Monday. BlackRock Long-Term Municipal Advantage Trust has a fifty-two week low of $9.48 and a fifty-two week high of $11.10. The firm has a 50-day moving average of $9.87 and a 200 day moving average of $10.18.

BlackRock Long-Term Municipal Advantage Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.0495 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.59 annualized dividend and a dividend yield of 6.12%.

BlackRock Long-Term Municipal Advantage Trust Company Profile

BlackRock Long-Term Municipal Advantage Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets of the United States. It uses financial derivatives to invest in municipal obligations. The fund primarily invests in long-term municipal bonds with a maturity of more than ten years at the time of investment.