BlackRock Multi-Sector Income Trust (NYSE:BIT) Short Interest Up 76.1% in June

BlackRock Multi-Sector Income Trust (NYSE:BIT) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 219,675 shares, a growth of 76.1% from the May 31st total of 124,757 shares. Based on an average daily trading volume, of 257,685 shares, the days-to-cover ratio is currently 0.9 days.

BlackRock Multi-Sector Income Trust Stock Performance

NYSE:BIT opened at $12.50 on Thursday. BlackRock Multi-Sector Income Trust has a 52-week low of $12.20 and a 52-week high of $15.12. The firm’s 50-day moving average is $12.55 and its 200-day moving average is $12.83.

BlackRock Multi-Sector Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.1237 per share. This represents a c) annualized dividend and a dividend yield of 11.9%. The ex-dividend date is Tuesday, September 15th.

Institutional Investors Weigh In On BlackRock Multi-Sector Income Trust

A number of institutional investors have recently added to or reduced their stakes in the stock. Rivernorth Capital Management LLC grew its position in BlackRock Multi-Sector Income Trust by 0.9% in the fourth quarter. Rivernorth Capital Management LLC now owns 1,763,718 shares of the investment management company’s stock valued at $23,034,000 after acquiring an additional 15,322 shares during the period. Cyndeo Wealth Partners LLC boosted its stake in shares of BlackRock Multi-Sector Income Trust by 1.8% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 837,581 shares of the investment management company’s stock valued at $10,939,000 after purchasing an additional 15,201 shares in the last quarter. Royal Bank of Canada increased its position in shares of BlackRock Multi-Sector Income Trust by 76.7% during the 4th quarter. Royal Bank of Canada now owns 681,655 shares of the investment management company’s stock worth $8,903,000 after purchasing an additional 295,974 shares in the last quarter. Invesco Ltd. lifted its holdings in BlackRock Multi-Sector Income Trust by 53.8% during the 4th quarter. Invesco Ltd. now owns 673,510 shares of the investment management company’s stock valued at $8,796,000 after purchasing an additional 235,625 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in BlackRock Multi-Sector Income Trust by 17.6% in the third quarter. Ameriprise Financial Inc. now owns 512,573 shares of the investment management company’s stock valued at $6,829,000 after buying an additional 76,610 shares in the last quarter.

BlackRock Multi-Sector Income Trust Company Profile

BlackRock Multi-Sector Income Trust (NYSE:BIT) is a closed-end management investment company sponsored by BlackRock, Inc The trust seeks to provide high current income and total return by investing across a broad range of income-producing sectors. It trades on the New York Stock Exchange under the ticker symbol BIT and is managed by BlackRock Advisors, LLC.

The trust’s portfolio is diversified across multiple sectors of the fixed-income market, including investment-grade corporate bonds, high-yield corporate debt, U.S.