BlackRock Multi-Sector Income Trust (NYSE:BIT) Short Interest Update

BlackRock Multi-Sector Income Trust (NYSE:BITGet Free Report) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 62,900 shares, a growth of 212.9% from the September 15th total of 20,100 shares. Based on an average trading volume of 122,300 shares, the days-to-cover ratio is currently 0.5 days.

BlackRock Multi-Sector Income Trust Trading Down 0.5 %

Shares of NYSE BIT traded down $0.08 during mid-day trading on Friday, reaching $14.97. The company had a trading volume of 236,616 shares, compared to its average volume of 108,518. The firm has a 50 day simple moving average of $14.95 and a two-hundred day simple moving average of $14.99. BlackRock Multi-Sector Income Trust has a 52-week low of $13.65 and a 52-week high of $15.98.

BlackRock Multi-Sector Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be paid a $0.1237 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 9.92%. The ex-dividend date of this dividend is Tuesday, October 15th.

Institutional Investors Weigh In On BlackRock Multi-Sector Income Trust

A number of institutional investors and hedge funds have recently made changes to their positions in BIT. Envestnet Asset Management Inc. grew its stake in shares of BlackRock Multi-Sector Income Trust by 45.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 205,703 shares of the investment management company’s stock valued at $2,999,000 after purchasing an additional 63,811 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in BlackRock Multi-Sector Income Trust by 10.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 120,937 shares of the investment management company’s stock valued at $1,763,000 after purchasing an additional 11,605 shares during the period. Private Advisor Group LLC increased its position in BlackRock Multi-Sector Income Trust by 11.5% during the 2nd quarter. Private Advisor Group LLC now owns 90,760 shares of the investment management company’s stock worth $1,323,000 after purchasing an additional 9,341 shares during the period. Atria Wealth Solutions Inc. raised its stake in shares of BlackRock Multi-Sector Income Trust by 11.4% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 78,203 shares of the investment management company’s stock worth $1,140,000 after buying an additional 8,011 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in shares of BlackRock Multi-Sector Income Trust by 4.5% in the 2nd quarter. NewEdge Advisors LLC now owns 72,704 shares of the investment management company’s stock valued at $1,060,000 after buying an additional 3,140 shares during the period.

Wall Street Analyst Weigh In

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

Get Our Latest Stock Analysis on BIT

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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