Stayce D. Harris, a director at BlackRock (NYSE:) Municipal Income Trust II (NYSE:BLE), recently purchased 10 shares of the company’s common stock. The transaction, which took place on October 29, saw Harris acquire the shares at an average price of $10.7342 per share, totaling $107. This acquisition now brings Harris’s total holdings to 10 shares, indicating a direct ownership stake in the company. The details of the transaction were disclosed in a recent SEC filing.
Insights from InvestingPro
While Stayce D. Harris’s recent purchase of BlackRock Municipal Income Trust II (NYSE:BLE) shares is noteworthy, it’s important to consider the broader financial context of the company. According to data from InvestingPro, 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 standout features of BLE is its dividend yield, which currently stands at an impressive 6.05%. This aligns with an InvestingPro Tip that highlights the company’s track record of maintaining dividend payments for 23 consecutive years, a factor that may have influenced Harris’s decision to invest. This consistent dividend history could be particularly appealing to income-focused investors.
Another InvestingPro Tip notes that the stock typically trades with low price volatility. This characteristic could be attractive to investors looking for stability in their portfolio, especially in the current market environment.
It is worth noting that BLE has demonstrated profitability over the past twelve months, with a gross profit of $38.53 million and an operating income of $33.88 million. However, the company has experienced a 6.89% decline in revenue over the same period, which investors should keep an eye on.
For a more in-depth analysis, InvestingPro offers additional tips and insights that can provide a more comprehensive view of BLE’s investment potential.
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