Traders Are Bearish BlackRock Enhanced Equity Dividend Trust (BDJ) After The Stock Formed H&S Chart Pattern

April 23, 2018 - By Clifton Ray

Investors sentiment increased to 1.69 in Q4 2017. Its up 0.62, from 1.07 in 2017Q3. It is positive, as 12 investors sold BlackRock Enhanced Equity Dividend Trust shares while 23 reduced holdings. 22 funds opened positions while 37 raised stakes. 29.74 million shares or 3.33% less from 30.76 million shares in 2017Q3 were reported.
Css Lc Il has 85,093 shares. Walleye Trading Limited Company owns 27,600 shares. Thrivent Finance For Lutherans holds 49,429 shares. Park Avenue Securities Ltd Limited Liability Company stated it has 0.09% in BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ). National Bank & Trust Of Nova Scotia reported 231,947 shares stake. Conning has invested 0.01% in BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ). Thomas J Herzfeld Advsrs Incorporated invested 0% of its portfolio in BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ). Sei Invests Co reported 0% of its portfolio in BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ). Richard C Young & holds 1.51 million shares. Da Davidson And accumulated 0% or 12,872 shares. Financial Bank Of America De accumulated 0% or 1.39M shares. Cohen Steers holds 213,573 shares. Community National Bank Na holds 5,703 shares. North Star Investment Mngmt holds 0.01% of its portfolio in BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) for 7,575 shares. Guggenheim Cap Ltd Liability has invested 0.02% in BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ).

The stock of BlackRock Enhanced Equity Dividend Trust (BDJ) formed H&S with $8.46 target or 4.00 % below today’s $8.81 share price. The 8 months Head & Shoulders indicates high risk for the $1.65 billion company. It was reported on Apr, 23 by Faxor.com. If the $8.46 price target is reached, the company will be worth $66.12 million less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The stock decreased 0.56% or $0.05 during the last trading session, reaching $8.81. About 350,189 shares traded. BlackRock Enhanced Equity Dividend Trust (NYSE:BDJ) has risen 3.60% since April 23, 2017 and is uptrending. It has underperformed by 7.95% the S&P500.

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