Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) Plans Monthly Dividend of $0.10

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) declared a monthly dividend on Tuesday, September 12th, Zacks reports. Investors of record on Friday, September 22nd will be given a dividend of 0.102 per share on Friday, September 29th. This represents a $1.22 annualized dividend and a yield of 10.95%. The ex-dividend date is Thursday, September 21st.

Blackstone Strategic Credit 2027 Term Fund has decreased its dividend payment by an average of 16.2% per year over the last three years and has raised its dividend annually for the last 1 consecutive years.

Blackstone Strategic Credit 2027 Term Fund Price Performance

Blackstone Strategic Credit 2027 Term Fund stock opened at $11.18 on Thursday. The firm has a 50-day moving average of $11.06 and a two-hundred day moving average of $10.83. Blackstone Strategic Credit 2027 Term Fund has a 1 year low of $10.27 and a 1 year high of $11.74.

Insider Activity

In other news, Portfolio Manager Gordon Mckemie acquired 11,500 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The shares were bought at an average price of $10.70 per share, with a total value of $123,050.00. Following the completion of the purchase, the portfolio manager now directly owns 29,833 shares in the company, valued at $319,213.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. lifted its position in shares of Blackstone Strategic Credit 2027 Term Fund by 42.1% in the 4th quarter. Bessemer Group Inc. now owns 3,598 shares of the company’s stock worth $38,000 after purchasing an additional 1,066 shares during the period. Rockefeller Capital Management L.P. grew its stake in Blackstone Strategic Credit 2027 Term Fund by 38.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 8,300 shares of the company’s stock valued at $87,000 after purchasing an additional 2,300 shares during the last quarter. Money Concepts Capital Corp bought a new position in Blackstone Strategic Credit 2027 Term Fund in the fourth quarter worth about $98,000. Captrust Financial Advisors purchased a new stake in shares of Blackstone Strategic Credit 2027 Term Fund during the second quarter valued at about $104,000. Finally, Walleye Capital LLC bought a new stake in shares of Blackstone Strategic Credit 2027 Term Fund in the 2nd quarter valued at about $115,000.

About Blackstone Strategic Credit 2027 Term Fund

Blackstone Strategic Credit 2027 Term Fund is a close ended fixed income mutual fund launched and managed by GSO / Blackstone Debt Funds Management LLC. It invests in the fixed income markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in the loans and other fixed income instruments including first- and second-lien secured loans and high-yield corporate bonds of different maturities.