NEW YORK—Harris Stayce D., a director at BlackRock (NYSE:BLK) Long-Term Municipal Advantage Trust (NYSE:BTA), recently purchased shares of the company. According to a filing with the Securities and Exchange Commission, Stayce acquired 10 shares of common stock on October 29, at a price of approximately $10.20 per share, totaling $101.
Following this transaction, Stayce's direct ownership in the trust stands at 10 shares. The purchase was filed with the SEC on October 30, highlighting Stayce's continued investment in BlackRock's municipal bond-focused closed-end fund.
InvestingPro Insights
The recent share purchase by Harris Stayce D. aligns with several positive indicators for BlackRock Long-Term Municipal Advantage Trust (NYSE:BTA). According to InvestingPro data, BTA's stock is currently trading at a P/E ratio of 11.49, suggesting a relatively attractive valuation compared to the broader market. This could explain why a director sees value in increasing their position.
InvestingPro Tips reveal that BTA has maintained dividend payments for 19 consecutive years, demonstrating a commitment to shareholder returns. This consistency is particularly noteworthy given the trust's current dividend yield of 5.84%, which may be appealing to income-focused investors like Stayce.
Despite a slight revenue decline of 2.74% over the last twelve months, BTA remains profitable, with a gross profit margin of 100% for the same period. This profitability, combined with the trust's low price volatility, as noted in another InvestingPro Tip, may contribute to its appeal as a stable investment in the municipal bond space.
For investors seeking a more comprehensive analysis, InvestingPro offers additional insights, with 6 more tips available for BTA. These tips could provide further context to Stayce's investment decision and help investors understand the trust's potential in the current market environment.
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