Stayce D. Harris, a director at BlackRock (NYSE:BLK) Municipal Income Trust (NYSE:BFK), recently acquired shares of the company. According to a recent filing, Harris purchased 10 shares of common stock at a price of $10.12 each, totaling $101. This transaction occurred on October 29, 2024. Following this acquisition, Harris now directly owns 10 shares of the trust.
InvestingPro Insights
While Stayce D. Harris's recent purchase of BlackRock Municipal Income Trust (NYSE:BFK) shares may seem modest, it aligns with several interesting characteristics of the stock. According to InvestingPro data, BFK boasts a substantial dividend yield of 5.94%, which could be particularly attractive to income-focused investors like Harris. This high yield is supported by the company's impressive track record of maintaining dividend payments for 24 consecutive years, as noted in one of the InvestingPro Tips.
The trust's market capitalization stands at $445.13 million, placing it in the small-cap category. Despite its size, BFK has demonstrated resilience with a 23.6% price total return over the past year. This performance suggests that Harris's investment, though small, may be part of a broader confidence in the trust's potential.
It's worth noting that BFK generally trades with low price volatility, according to another InvestingPro Tip. This characteristic could appeal to directors and investors seeking stability in their municipal bond investments. For those interested in a deeper analysis, InvestingPro offers additional tips and metrics that could provide further context to Harris's investment decision.
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