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Blackstone Credit & Insurance Closed-End Funds Declare Monthly Distributions
PRNewswire (Mon, 11-Mar 4:45 PM ET)
Blackstone / GSO Strategic Credit Fund (“BGB” or herein, the “Fund”) is a closed-end fund that trades on the New York Stock Exchange under the symbol “BGB”. BGB’s primary investment objective is to seek high current income, with a secondary objective to seek preservation of capital, consistent with its primary goal of high current income. BGB invests primarily in a diversified portfolios or loans and other fixed income instruments of predominantly US Corporate issuers, including first-and second-lien loans (“Senior Secured Loans”) and high yield corporate bonds of varying maturities. BGB must hold no less than 80% of its Managed Assets in credit investments comprised of corporate fixed income instruments and other investments (including derivatives) with similar economic characteristics.
Blackstone/Gso Strategic Credit trades on the NYSE stock market under the symbol BGB.
As of May 10, 2024, BGB stock price climbed to $11.99 with 55,452 million shares trading.
BGB has a beta of 0.38, meaning it tends to be less sensitive to market movements. BGB has a correlation of 0.28 to the broad based SPY ETF.
BGB has a market cap of $535.41 million. This is considered a Small Cap stock.
In the last 3 years, BGB stock traded as high as $14.14 and as low as $10.27.
BGB has underperformed the market in the last year with a price return of +22.8% while the SPY ETF gained +27.8%. However, in the short term, BGB had mixed performance relative to the market. It has outperformed in the last 3 months, returning +6.2% vs +4.2% return in SPY. But in the last 2 weeks, BGB shares have been beat by the market, returning +1.8% compared to an SPY return of +2.5%.
BGB support price is $11.89 and resistance is $12.03 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BGB stock will trade within this expected range on the day.