Blackstone Credit & Insurance Closed-End Funds Announce Monthly Payouts
Written by Emily J. Thompson, Senior Investment Analyst
Source: Newsfilter
Monthly Distributions Announced: Blackstone Liquid Credit Strategies LLC has declared monthly distributions for three closed-end funds: Blackstone Senior Floating Rate 2027 Term Fund (BSL), Blackstone Long-Short Credit Income Fund (BGX), and Blackstone Strategic Credit 2027 Term Fund (BGB), with varying amounts per share and specific ex, record, and payable dates.
Dynamic Distribution Strategy: The funds utilize a dynamic distribution strategy that adjusts monthly distributions based on recent average net income, allowing for flexibility in maintaining portfolio credit quality and reducing the need for reserves to support future distributions.
Analyst Views on BGX
Wall Street analysts forecast BGX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BGX is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 11.670
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Current: 11.670
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About BGX
Blackstone Long-Short Credit Income Fund (the Fund) is a diversified, closed-end management investment company. The Fund's primary investment objective is to provide current income, with a secondary objective of capital appreciation. The Fund will take long positions in investments which it believes offer the potential for attractive returns under various economic and interest rate environments. BGX may also take short positions in investments which it believes will underperform due to a greater sensitivity to earnings growth of the issuer, default risk or the general level and direction of interest rates. It must hold no less than 70% of its Managed Assets in first and second lien secured loans (Secured Loans) but may also invest in unsecured loans and high-yield bonds. The Fund invests in various sectors, which include aerospace and defense, auto components, beverages, building products, and others. Blackstone Liquid Credit Strategies LLC serves as an investment advisor for the Fund.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
