Blackrock Income Trust (NYSE:BKT) Shares Down 1.6% – Here’s Why

Blackrock Income Trust (NYSE:BKT) shares dropped 1.6% during trading on Tuesday. The stock traded as low as $9.84 and last traded at $9.88. 88,336 shares were traded during trading, a decline of 22% from the average daily volume of 113,056 shares. The stock had previously closed at $10.04.

Blackrock Income Trust Stock Performance

The company’s 50 day moving average price is $9.77 and its 200 day moving average price is $10.43.

Blackrock Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be issued a $0.0882 dividend. The ex-dividend date is Friday, December 11th. This represents a $1.06 dividend on an annualized basis and a yield of 10.8%.

Hedge Funds Weigh In On Blackrock Income Trust

Hedge funds have recently bought and sold shares of the business. First Trust Advisors LP lifted its position in shares of Blackrock Income Trust by 8.3% in the third quarter. First Trust Advisors LP now owns 229,391 shares of the company’s stock worth $2,191,000 after buying an additional 17,578 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Blackrock Income Trust by 8.4% during the 3rd quarter. Private Advisor Group LLC now owns 104,706 shares of the company’s stock valued at $1,000,000 after acquiring an additional 8,075 shares during the last quarter. Riverbridge Partners LLC increased its holdings in shares of Blackrock Income Trust by 3.0% during the 3rd quarter. Riverbridge Partners LLC now owns 115,026 shares of the company’s stock valued at $1,098,000 after acquiring an additional 3,403 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Blackrock Income Trust by 94.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 719,060 shares of the company’s stock valued at $6,867,000 after acquiring an additional 349,211 shares in the last quarter. Finally, StoneX Group Inc. bought a new position in shares of Blackrock Income Trust in the 3rd quarter valued at approximately $154,000. 39.43% of the stock is owned by institutional investors and hedge funds.

About Blackrock Income Trust

BlackRock Income Trust, Inc. is a closed-end investment company managed by BlackRock Advisors, LLC. Its investment objective is to provide high current income while seeking to preserve capital. The fund invests primarily in U.S. fixed-income securities, with a focus on mortgage-backed securities issued or guaranteed by U.S. government agencies and instrumentalities. Its portfolio may also include other government-related and mortgage securities. Through its investments, BlackRock Income Trust focuses mainly on U.S. markets.