What’s in BlackRock Enhanced International Dividend Trust (BGY) After Forming Bearish Multiple Bottom?

October 2, 2018 - By Adrian Erickson

Investors sentiment increased to 1.57 in Q2 2018. Its up 0.02, from 1.55 in 2018Q1. It is positive, as 3 investors sold BlackRock Enhanced International Dividend Trust shares while 18 reduced holdings. 9 funds opened positions while 24 raised stakes. 32.18 million shares or 4.27% more from 30.86 million shares in 2018Q1 were reported.
Wealthtrust Axiom Ltd Liability Corp invested 0.02% in BlackRock Enhanced International Dividend Trust (NYSE:BGY). Carroll Financial Associate Incorporated reported 1,399 shares. Stifel Financial Corp stated it has 0% of its portfolio in BlackRock Enhanced International Dividend Trust (NYSE:BGY). Goldman Sachs Gru Inc reported 11,955 shares. Kwmg Limited Liability invested in 0% or 2,100 shares. M&T Savings Bank holds 0% of its portfolio in BlackRock Enhanced International Dividend Trust (NYSE:BGY) for 19,526 shares. 1832 Asset Mngmt Limited Partnership reported 586,501 shares. Citigroup Inc owns 12,564 shares. Millennium Management Ltd Limited Liability Company has 23,007 shares. Brinker Cap Incorporated owns 64,036 shares for 0.01% of their portfolio. Finemark Bancshares & reported 40,641 shares. Raymond James Fincl Incorporated has 0% invested in BlackRock Enhanced International Dividend Trust (NYSE:BGY). Bb&T Ltd Limited Liability Company invested in 0% or 26,013 shares. Morgan Stanley reported 9.47 million shares. Athena Capital Advsr Limited Liability Corporation reported 18,590 shares.

The stock of BlackRock Enhanced International Dividend Trust (BGY) shows a multiple bottoms pattern with $5.37 target or 6.00 % below today’s $5.71 share price. The 8 months chart pattern indicates high risk for the $622.67M company. It was reported on Oct, 2 by Finviz.com. If the $5.37 price target is reached, the company will be worth $37.36M less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock decreased 0.35% or $0.02 during the last trading session, reaching $5.71. About 236,462 shares traded. BlackRock Enhanced International Dividend Trust (NYSE:BGY) has declined 12.84% since October 2, 2017 and is downtrending. It has underperformed by 28.46% the S&P500.

BlackRock Enhanced International Dividend Trust is a closed ended equity mutual fund launched by BlackRock, Inc. The company has market cap of $622.67 million. The fund is co-managed by BlackRock Advisors, LLC and BlackRock International Limited. It has a 228.4 P/E ratio. It invests in public equity markets across the globe excluding the United States.

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