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

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 $14.98 and traded as low as $14.76. BlackRock Multi-Sector Income Trust shares last traded at $14.81, with a volume of 146,587 shares.

Analyst Ratings Changes

Separately, Royal Bank of Canada raised BlackRock Multi-Sector Income Trust to a “hold” rating in a report on Thursday, July 25th.

BlackRock Multi-Sector Income Trust Stock Up 0.5 %

The company has a 50 day moving average price of $14.98 and a 200-day moving average price of $14.90.

BlackRock Multi-Sector Income Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be given a $0.1237 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.48 dividend on an annualized basis and a yield of 10.01%.

Institutional Trading of BlackRock Multi-Sector Income Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ORG Partners LLC acquired a new position in shares of BlackRock Multi-Sector Income Trust during the 1st quarter valued at $51,000. Atria Wealth Solutions Inc. boosted its stake in BlackRock Multi-Sector Income Trust by 11.4% during the second quarter. Atria Wealth Solutions Inc. now owns 78,203 shares of the investment management company’s stock valued at $1,140,000 after buying an additional 8,011 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in BlackRock Multi-Sector Income Trust during the second quarter worth about $791,000. Envestnet Asset Management Inc. raised its position in BlackRock Multi-Sector Income Trust by 45.0% in the second quarter. Envestnet Asset Management Inc. now owns 205,703 shares of the investment management company’s stock worth $2,999,000 after acquiring an additional 63,811 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in BlackRock Multi-Sector Income Trust by 2.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 54,153 shares of the investment management company’s stock valued at $860,000 after acquiring an additional 1,120 shares during the last quarter.

About BlackRock Multi-Sector Income Trust

BlackRock Multi-Sector Income Trust is a close ended fixed income mutual fund launched by BlackRock, Inc It is co-managed by BlackRock Advisors, LLC and BlackRock (Singapore) Limited. The fund invests in fixed income markets. It invests primarily in loan and debt instruments and other investments with similar economic characteristic.