Blackrock Income Trust (NYSE:BKT) Stock Price Down 0.6% – Time to Sell?

Shares of Blackrock Income Trust (NYSE:BKT) dropped 0.6% during trading on Monday. The company traded as low as $9.58 and last traded at $9.6150. 81,188 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 199,068 shares. The stock had previously closed at $9.67.

Blackrock Income Trust Stock Down 0.6%

The business has a 50 day moving average of $9.96 and a 200 day moving average of $10.33.

Blackrock Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be given a dividend of $0.0882 per share. This represents a $1.06 dividend on an annualized basis and a yield of 11.0%. The ex-dividend date of this dividend is Friday, December 11th.

Institutional Investors Weigh In On Blackrock Income Trust

Several institutional investors and hedge funds have recently modified their holdings of BKT. Fortitude Advisory Group L.L.C. raised its stake in Blackrock Income Trust by 32.7% in the third quarter. Fortitude Advisory Group L.L.C. now owns 40,807 shares of the company’s stock worth $390,000 after buying an additional 10,065 shares in the last quarter. Courier Capital LLC lifted its holdings in Blackrock Income Trust by 79.1% in the third quarter. Courier Capital LLC now owns 43,668 shares of the company’s stock worth $417,000 after buying an additional 19,289 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Blackrock Income Trust in the second quarter worth about $4,983,000. Aspire Capital Advisors LLC purchased a new stake in Blackrock Income Trust in the second quarter worth about $1,649,000. Finally, Endeavor Private Wealth Inc. bought a new stake in Blackrock Income Trust during the 2nd quarter valued at approximately $2,069,000. 39.43% of the stock is owned by hedge funds and other institutional investors.

About Blackrock Income Trust

BlackRock Income Trust, Inc (NYSE:BKT) is a closed-end investment company managed by BlackRock Advisors, LLC. The fund seeks to provide current income to shareholders by investing primarily in a portfolio of fixed-income securities.

BKT generally invests in mortgage-related securities, including securities issued or guaranteed by U.S. government agencies and instrumentalities, as well as other debt investments. Its portfolio may include government and agency obligations, corporate bonds and other income-producing fixed-income instruments, subject to the fund’s investment policies and market conditions.

The fund is designed for investors seeking exposure to income-oriented fixed-income investments through a publicly traded closed-end structure.