BlackRock Multi-Sector Income Trust (NYSE:BIT) Shares Cross Below 50 Day Moving Average – Time to Sell?

BlackRock Multi-Sector Income Trust (NYSE:BIT) shares passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $12.47 and traded as low as $12.30. BlackRock Multi-Sector Income Trust shares last traded at $12.3450, with a volume of 268,662 shares traded.

BlackRock Multi-Sector Income Trust Price Performance

The stock’s 50 day moving average price is $12.47 and its 200 day moving average price is $12.77.

BlackRock Multi-Sector Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.1237 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 12.0%.

Institutional Investors Weigh In On BlackRock Multi-Sector Income Trust

Several hedge funds and other institutional investors have recently bought and sold shares of BIT. Wells Fargo & Company MN raised its holdings in BlackRock Multi-Sector Income Trust by 440.2% during the fourth quarter. Wells Fargo & Company MN now owns 474,153 shares of the investment management company’s stock worth $6,192,000 after buying an additional 386,375 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of BlackRock Multi-Sector Income Trust during the 1st quarter worth approximately $4,664,000. Royal Bank of Canada boosted its position in BlackRock Multi-Sector Income Trust by 76.7% in the fourth 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 during the last quarter. Invesco Ltd. boosted its holdings in shares of BlackRock Multi-Sector Income Trust by 53.8% in the 4th quarter. Invesco Ltd. now owns 673,510 shares of the investment management company’s stock worth $8,796,000 after buying an additional 235,625 shares during the last quarter. Finally, Shaker Financial Services LLC purchased a new position in BlackRock Multi-Sector Income Trust in the fourth quarter valued at about $2,180,000.

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.