BlackRock LT Municipal Advantage Trust’s (BTA) “Neutral” Rating Reaffirmed at Macquarie

Macquarie restated their neutral rating on shares of BlackRock LT Municipal Advantage Trust (NYSE:BTA) in a report issued on Monday, May 8th. They currently have a GBX 270 ($3.49) target price on the financial services provider’s stock.

A number of other equities research analysts also recently commented on the company. JPMorgan Chase & Co. cut their price objective on BlackRock LT Municipal Advantage Trust from GBX 390 ($5.03) to GBX 330 ($4.26) and set a neutral rating for the company in a research report on Wednesday, January 25th. BNP Paribas reiterated a neutral rating and set a GBX 330 ($4.26) price objective on shares of BlackRock LT Municipal Advantage Trust in a research report on Wednesday, January 25th. Barclays PLC reiterated an overweight rating and set a GBX 475 ($6.13) price objective on shares of BlackRock LT Municipal Advantage Trust in a research report on Thursday, February 23rd. HSBC Holdings plc reiterated a buy rating and set a GBX 425 ($5.49) price objective on shares of BlackRock LT Municipal Advantage Trust in a research report on Monday, March 13th. Finally, Deutsche Bank AG restated a sell rating and issued a GBX 325 ($4.20) target price on shares of BlackRock LT Municipal Advantage Trust in a report on Wednesday, January 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $377.36.

BlackRock LT Municipal Advantage Trust (NYSE:BTA) traded down 0.17% on Monday, hitting $11.72. 48,877 shares of the stock traded hands. The stock has a 50 day moving average of $11.65 and a 200 day moving average of $11.43. BlackRock LT Municipal Advantage Trust has a 52 week low of $10.73 and a 52 week high of $13.44.

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The company also recently disclosed a dividend, which will be paid on Monday, September 4th. Investors of record on Thursday, August 10th will be issued a dividend of $10.55 per share. This represents a dividend yield of 3.38%. This is a positive change from BlackRock LT Municipal Advantage Trust’s previous dividend of $0.05. The ex-dividend date of this dividend is Thursday, August 10th.

Several hedge funds have recently made changes to their positions in BTA. First Allied Advisory Services Inc. raised its stake in shares of BlackRock LT Municipal Advantage Trust by 9.3% in the fourth quarter. First Allied Advisory Services Inc. now owns 13,052 shares of the financial services provider’s stock valued at $147,000 after buying an additional 1,108 shares in the last quarter. Oxbow Advisors LLC increased its position in BlackRock LT Municipal Advantage Trust by 5.5% in the first quarter. Oxbow Advisors LLC now owns 21,387 shares of the financial services provider’s stock valued at $245,000 after buying an additional 1,112 shares during the last quarter. Morgan Stanley increased its position in BlackRock LT Municipal Advantage Trust by 7.7% in the first quarter. Morgan Stanley now owns 33,682 shares of the financial services provider’s stock valued at $386,000 after buying an additional 2,401 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in BlackRock LT Municipal Advantage Trust by 27.1% in the first quarter. Oppenheimer & Co. Inc. now owns 17,100 shares of the financial services provider’s stock valued at $196,000 after buying an additional 3,650 shares during the last quarter. Finally, First Trust Advisors LP increased its position in BlackRock LT Municipal Advantage Trust by 16.0% in the third quarter. First Trust Advisors LP now owns 38,486 shares of the financial services provider’s stock valued at $486,000 after buying an additional 5,307 shares during the last quarter.

About BlackRock LT Municipal Advantage Trust

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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