BKN Stock Summary and Trading Ideas (Blackrock Invest Quality Muni | NYSE:BKN)

BlackRock Investment Quality Municipal Trust Inc.’s (BKN) (the “Trust”) investment objective is to provide high current income exempt from regular federal income tax consistent with the preservation of capital. The Trust seeks to achieve its investment objective by investing at least 80% of its assets in municipal obligations exempt from federal income taxes (except that the interest may be subject to the federal alternative minimum tax). Under normal market conditions, the Trust invests at least 80% of its assets in securities rated investment grade at the time of investment. The Trust may invest directly in such securities or synthetically through the use of derivatives.

Blackrock Invest Quality Muni trades on the NYSE stock market under the symbol BKN.

As of April 24, 2024, BKN stock price climbed to $12.16 with 39,495 million shares trading.

BKN has a beta of 0.67, meaning it tends to be less sensitive to market movements. BKN has a correlation of 0.30 to the broad based SPY ETF.

BKN has a market cap of $209.22 million. This is considered a Small Cap stock.

In the last 3 years, BKN stock traded as high as $20.00 and as low as $9.57.

BKN stock has underperformed the market in the last year with a return of +10.2%, while SPY returned +24.2%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in BKN shares. However, BKN has outperformed the market in the last 3 month and 2 week periods, returning +6.0% and -0.5%, while SPY returned +4.6% and -2.7%, respectively. This indicates BKN has been having a stronger performance recently.

BKN support price is $11.86 and resistance is $12.06 (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 BKN stock will trade within this expected range on the day.