Todays Report: The BlackRock LT Municipal Advantage Trust (BTA) Position Boosted by First Trust Advisors LP

The BlackRock LT Municipal Advantage Trust (BTA) Position Boosted by First Trust Advisors LP

First Trust Advisors LP boosted its position in BlackRock LT Municipal Advantage Trust (NYSE:BTA) by 4.9% during the second quarter, Holdings Channel reports. The fund owned 33,179 shares of the company’s stock after buying an additional 1,555 shares during the period. First Trust Advisors LP’s holdings in BlackRock LT Municipal Advantage Trust were worth $423,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Mackay Shields LLC boosted its stake in shares of BlackRock LT Municipal Advantage Trust by 381.1% in the second quarter. Mackay Shields LLC now owns 156,373 shares of the company’s stock worth $1,995,000 after buying an additional 123,868 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of BlackRock LT Municipal Advantage Trust during the second quarter worth about $1,550,000. Grimes & Company Inc. purchased a new stake in shares of BlackRock LT Municipal Advantage Trust during the second quarter worth about $208,000. Finally, UBS Group AG boosted its stake in shares of BlackRock LT Municipal Advantage Trust by 5.8% in the first quarter. UBS Group AG now owns 113,194 shares of the company’s stock worth $1,347,000 after buying an additional 6,186 shares during the last quarter.

BlackRock LT Municipal Advantage Trust (NYSE:BTA) traded down 1.88% during midday trading on Thursday, hitting $12.01. The company had a trading volume of 31,755 shares. The company’s 50 day moving average is $12.64 and its 200-day moving average is $12.58. BlackRock LT Municipal Advantage Trust has a one year low of $10.95 and a one year high of $13.44.

The company also recently declared a dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 14th will be issued a $0.054 dividend. The ex-dividend date of this dividend is Wednesday, October 12th.

BTA has been the subject of a number of research reports. Berenberg Bank reiterated a “buy” rating and set a GBX 506 ($6.26) target price on shares of BlackRock LT Municipal Advantage Trust in a report on Monday. Macquarie cut BlackRock LT Municipal Advantage Trust to an “underperform” rating and decreased their target price for the stock from GBX 360 ($4.46) to GBX 310 ($3.84) in a report on Friday, October 7th. Jefferies Group decreased their target price on BlackRock LT Municipal Advantage Trust from GBX 475 ($5.88) to GBX 400 ($4.95) and set a “hold” rating for the company in a report on Tuesday, June 21st. Citigroup Inc. reiterated a “buy” rating and set a GBX 440 ($5.45) target price on shares of BlackRock LT Municipal Advantage Trust in a report on Monday, June 27th. Finally, Societe Generale upgraded BlackRock LT Municipal Advantage Trust to a “buy” rating and set a GBX 545 ($6.75) price target for the company in a report on Friday, July 1st. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. BlackRock LT Municipal Advantage Trust has an average rating of “Hold” and an average price target of GBX 462.93 ($5.73).

BlackRock LT Municipal Advantage Trust Company Profile

BlackRock Long-Term Municipal Advantage Trust (the Trust) is a non-diversified, closed-end management investment company. The Trust’s investment objective is to provide current income exempt from regular federal income tax. The Trust seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its assets in municipal obligations and derivative instruments with exposure to such municipal obligations, in each case that are exempt from federal income tax (except that the interest may be subject to the federal alternative minimum tax).

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