Asia FX muted, dollar weakens slightly ahead of Fed rate decision
In a challenging economic climate, BlackRock (NYSE:BLK) Investment Quality Municipal Trust (BKN) stock has reached a 52-week low, dipping to $11. The $190.3M market cap fund maintains an attractive 6.05% dividend yield, having consistently paid dividends for 33 consecutive years, according to InvestingPro data. This downturn reflects a broader trend affecting the municipal bond market, with investors showing caution amidst rising interest rates and fiscal uncertainty. With a beta of 0.65 and an "GREAT" Financial Health score from InvestingPro, BKN has demonstrated relative stability. Over the past year, BKN has experienced a more modest decline of -1.89%, compared to earlier projections. This performance highlights the volatility that fixed-income securities have faced during a period marked by monetary tightening and inflationary pressures. Discover 4 additional key insights about BKN with an InvestingPro subscription.
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