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Blackstone Credit & Insurance Closed-End Funds Declare Monthly Distributions
PRNewswire (Mon, 11-Mar 4:45 PM ET)
Blackstone Credit Closed-End Funds Announce Trustee and Officer Changes
PRNewswire (Thu, 4-Jan 4:15 PM ET)
Blackstone / GSO Long Short Credit Income Fund (“BGX” or herein, the “Fund”) is a closed-end fund that trades on the New York Stock Exchange under the symbol “BGX”. BGX’s primary investment objective is to provide current income, with a secondary objective of capital appreciation. BGX will take long positions in investments which we believe offer the potential for attractive returns under various economic and interest rate environments. BGX may also take short positions in investments which we believe will under-perform due to a greater sensitivity to earnings growth of the issuer, default risk or the general level and direction of interest rates. BGX must hold no less than 70% of its Managed Assets in first-and second-lien secured floating rate loans (“Secured Loans”), but may also invest in unsecured loans and high yield bonds. BGX may use financial leverage and derivatives in employing its long strategy for up to a total of 150% of net assets.
Blackstone/Gso Ls Credit trades on the NYSE stock market under the symbol BGX.
As of March 28, 2024, BGX stock price declined to $12.31 with 50,017 million shares trading.
BGX has a beta of 0.37, meaning it tends to be less sensitive to market movements. BGX has a correlation of 0.20 to the broad based SPY ETF.
BGX has a market cap of $156.44 million. This is considered a Micro Cap stock.
In the last 3 years, BGX stock traded as high as $15.59 and as low as $10.58.
BGX has underperformed the market in the last year with a price return of +26.2% while the SPY ETF gained +33.6%. BGX has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +10.1% and +0.7%, respectively, while the SPY returned +10.1% and +1.7%, respectively.
BGX support price is $12.25 and resistance is $12.39 (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 BGX stock will trade within this expected range on the day.