BlackRock Multi-Sector Income Trust (NYSE:BIT) Stock Price Passes Below 50 Day Moving Average – Here’s What Happened

BlackRock Multi-Sector Income Trust (NYSE:BIT) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $12.05 and traded as low as $11.57. BlackRock Multi-Sector Income Trust shares last traded at $11.62, with a volume of 371,966 shares trading hands.

BlackRock Multi-Sector Income Trust Stock Performance

The firm has a 50 day moving average price of $12.01 and a 200-day moving average price of $12.37.

BlackRock Multi-Sector Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be given a $0.1237 dividend. This represents a c) annualized dividend and a yield of 13.2%. The ex-dividend date is Friday, December 11th.

Institutional Investors Weigh In On BlackRock Multi-Sector Income Trust

Several hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new position in BlackRock Multi-Sector Income Trust during the second quarter valued at about $29,000. CoreCap Advisors LLC lifted its position 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 acquiring an additional 3,000 shares during the period. Harbour Investments Inc. bought a new stake in shares of BlackRock Multi-Sector Income Trust in the 4th quarter worth approximately $94,000. Western Wealth Management LLC acquired a new stake in shares of BlackRock Multi-Sector Income Trust during the 1st quarter worth approximately $110,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of BlackRock Multi-Sector Income Trust during the 2nd quarter worth approximately $125,000.

About BlackRock Multi-Sector Income Trust

BlackRock Multi-Sector Income Trust (NYSE: BIT) is a closed-end management investment company advised by BlackRock Advisors, a subsidiary of BlackRock, Inc The fund seeks to provide current income and, to a lesser extent, capital appreciation by investing in a diversified portfolio of fixed-income securities.

BIT invests across multiple sectors of the global bond market. Its holdings may include investment-grade and below-investment-grade corporate bonds, government and government-related securities, mortgage- and asset-backed securities, senior loans, and other income-producing debt instruments.