Short Interest in BlackRock Municipal Income Trust II Surges 50.6%

BlackRock Municipal Income Trust II (NYSE: BLE) experienced a significant increase in short interest in September 2023. As of September 30, the short interest reached 53,300 shares, marking a remarkable rise of 50.6% from the 35,400 shares reported on September 15. With an average trading volume of 104,000 shares, the current short-interest ratio stands at 0.5 days, indicating a growing interest among investors.

Institutional Investors Adjust Holdings

Several institutional investors have recently modified their stakes in BlackRock Municipal Income Trust II. Notably, Karpus Management Inc. increased its holdings by 8.5% during the second quarter, now owning 4,287,798 shares valued at approximately $43.05 million. This adjustment came after the firm acquired an additional 334,809 shares in the last quarter.

Mackay Shields LLC made a substantial move as well, raising its position by 63.2% during the same period. The firm now holds 577,670 shares worth around $5.8 million after adding 223,646 shares to its portfolio. In addition, Park Avenue Securities LLC and Cary Street Partners Financial LLC each purchased new positions in BlackRock Municipal Income Trust II, valued at $1.17 million and $1.12 million, respectively.

Advisors Asset Management Inc. also boosted its stake by 40.8% in the first quarter, bringing its total ownership to 195,668 shares valued at approximately $2.03 million after acquiring an additional 56,656 shares.

Current Trading and Market Position

As of the latest trading session, BlackRock Municipal Income Trust II opened at $10.52. The fund has shown a steady performance over the past year, with a low of $9.56 and a high of $11.12. Its 50-day simple moving average is currently $10.24, while the 200-day moving average stands at $10.03.

BlackRock Municipal Income Trust II is a closed-end fixed income mutual fund managed by BlackRock Advisors, LLC. The fund primarily invests in investment-grade municipal bonds, which are exempt from regular federal income tax, focusing on both long-term and short-term investments, as well as money market funds.

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