Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) to Issue $0.10 Monthly Dividend

Blackstone Strategic Credit 2027 Term Fund (NYSE:BGB) announced a monthly dividend on Thursday, September 14th, Wall Street Journal reports. Investors of record on Wednesday, November 22nd will be paid a dividend of 0.102 per share on Thursday, November 30th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 10.94%. The ex-dividend date is Tuesday, November 21st.

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

Blackstone Strategic Credit 2027 Term Fund Stock Performance

BGB opened at $11.19 on Friday. The business has a fifty day simple moving average of $11.07 and a 200-day simple moving average of $10.83. Blackstone Strategic Credit 2027 Term Fund has a 52 week low of $10.27 and a 52 week high of $11.74.

Insider Activity

In other Blackstone Strategic Credit 2027 Term Fund news, Portfolio Manager Gordon Mckemie bought 11,500 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The shares were purchased at an average cost of $10.70 per share, with a total value of $123,050.00. Following the purchase, the portfolio manager now directly owns 29,833 shares in the company, valued at $319,213.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BGB. Family Management Corp raised its stake in Blackstone Strategic Credit 2027 Term Fund by 4.3% in the fourth quarter. Family Management Corp now owns 25,986 shares of the company’s stock valued at $275,000 after buying an additional 1,065 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in shares of Blackstone Strategic Credit 2027 Term Fund during the 2nd quarter worth about $273,000. Envestnet Asset Management Inc. acquired a new stake in shares of Blackstone Strategic Credit 2027 Term Fund during the 1st quarter worth about $227,000. Cetera Investment Advisers lifted its stake in Blackstone Strategic Credit 2027 Term Fund by 39.9% during the fourth quarter. Cetera Investment Advisers now owns 20,732 shares of the company’s stock worth $219,000 after purchasing an additional 5,918 shares during the last quarter. Finally, Boothbay Fund Management LLC purchased a new position in Blackstone Strategic Credit 2027 Term Fund in the fourth quarter valued at approximately $198,000.

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.