Stayce D. Harris, a director at BlackRock (NYSE:BLK) Municipal Income Trust II (NYSE:BLE), recently acquired 10 shares of the company's common stock. The purchase, made on October 29, was executed at an average price of $10.7342 per share, amounting to a total transaction value of $107. This acquisition brings Harris's total holdings to 10 shares, indicating a direct ownership stake in the company. The transaction was disclosed in a recent SEC filing.
InvestingPro Insights
While Stayce D. Harris's recent acquisition of BlackRock Municipal Income Trust II (NYSE:BLE) shares is noteworthy, it's essential to consider the broader financial context of the company. According to InvestingPro data, BLE has a market capitalization of $511.63 million and a P/E ratio of 18.34, suggesting a moderate valuation relative to its earnings.
One of the most striking aspects of BLE is its dividend yield, which currently stands at an impressive 6.05%. This aligns with an InvestingPro Tip highlighting that the company has maintained dividend payments for 23 consecutive years, a factor that may have influenced Harris's decision to invest. For income-focused investors, this consistent dividend history could be particularly appealing.
Another InvestingPro Tip indicates that the stock generally trades with low price volatility. This characteristic might be attractive to investors seeking stability in their portfolio, especially given the current market conditions.
It's worth noting that BLE has shown profitability over the last twelve months, with a gross profit of $38.53 million and an operating income of $33.88 million. However, the company has experienced a revenue decline of 6.89% over the same period, which investors should monitor.
For those interested in a more comprehensive analysis, InvestingPro offers additional tips and insights that could provide a fuller picture of BLE's investment potential.
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