BlackRock Multi-Sector Income Trust (NYSE:BIT) Stock Price Passes Below 50-Day Moving Average – Here’s What Happened

by · The Cerbat Gem

BlackRock Multi-Sector Income Trust (NYSE:BIT – Get Free Report)’s stock price crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $14.98 and traded as low as $14.76. BlackRock Multi-Sector Income Trust shares last traded at $14.81, with a volume of 146,587 shares traded.

Wall Street Analyst Weigh In

Separately, Royal Bank of Canada upgraded shares of BlackRock Multi-Sector Income Trust to a “hold” rating in a research note on Thursday, July 25th.

Check Out Our Latest Stock Analysis on BlackRock Multi-Sector Income Trust

BlackRock Multi-Sector Income Trust Stock Up 0.5 %

The stock has a 50 day moving average of $14.98 and a 200 day moving average of $14.90.

BlackRock Multi-Sector Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a $0.1237 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 10.01%.

Hedge Funds Weigh In On BlackRock Multi-Sector Income Trust

Several large investors have recently added to or reduced their stakes in the company. ORG Partners LLC bought a new position in BlackRock Multi-Sector Income Trust in the first quarter worth about $51,000. Concurrent Investment Advisors LLC acquired a new position in BlackRock Multi-Sector Income Trust during the 1st quarter valued at approximately $164,000. Verus Capital Partners LLC acquired a new position in BlackRock Multi-Sector Income Trust during the 2nd quarter valued at approximately $219,000. Wolverine Asset Management LLC bought a new position in BlackRock Multi-Sector Income Trust during the 2nd quarter worth $791,000. Finally, Janney Montgomery Scott LLC increased its position in BlackRock Multi-Sector Income Trust by 2.1% in the first quarter. Janney Montgomery Scott LLC now owns 54,153 shares of the investment management company’s stock worth $860,000 after buying an additional 1,120 shares during the period.

About BlackRock Multi-Sector Income Trust

(Get Free Report)

BlackRock Multi-Sector Income Trust is a close ended fixed income mutual fund launched by BlackRock, Inc It is co-managed by BlackRock Advisors, LLC and BlackRock (Singapore) Limited. The fund invests in fixed income markets. It invests primarily in loan and debt instruments and other investments with similar economic characteristic.

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