Rivernorth Capital Management LLC Decreases Holdings in BlackRock Multi-Sector Income Trust $BIT

Rivernorth Capital Management LLC trimmed its position in shares of BlackRock Multi-Sector Income Trust (NYSE:BIT) by 60.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 487,034 shares of the investment management company’s stock after selling 731,079 shares during the quarter. Rivernorth Capital Management LLC’s holdings in BlackRock Multi-Sector Income Trust were worth $6,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Garton & Associates Financial Advisors LLC purchased a new position in BlackRock Multi-Sector Income Trust in the fourth quarter worth about $28,000. Global Retirement Partners LLC bought a new position in BlackRock Multi-Sector Income Trust in the second quarter worth approximately $29,000. CoreCap Advisors LLC increased its stake in shares of BlackRock Multi-Sector Income Trust by 76.9% in the 2nd quarter. CoreCap Advisors LLC now owns 6,900 shares of the investment management company’s stock worth $86,000 after purchasing an additional 3,000 shares in the last quarter. Cresta Advisors Ltd. bought a new stake in BlackRock Multi-Sector Income Trust during the fourth quarter valued at about $91,000. Finally, Harbour Investments Inc. purchased a new position in shares of BlackRock Multi-Sector Income Trust during the 4th quarter valued at about $94,000.

BlackRock Multi-Sector Income Trust Stock Performance

NYSE BIT opened at $11.95 on Monday. BlackRock Multi-Sector Income Trust has a 12 month low of $11.81 and a 12 month high of $13.99. The company’s 50 day moving average is $12.28 and its two-hundred day moving average is $12.55.

BlackRock Multi-Sector Income Trust Announces Dividend

The company also recently disclosed 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 12.4%. The ex-dividend date is Tuesday, September 15th.

BlackRock Multi-Sector Income Trust 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.