Royal Bank of Canada Sells 96,789 Shares of BlackRock Multi-Sector Income Trust $BIT

Royal Bank of Canada trimmed its holdings in shares of BlackRock Multi-Sector Income Trust (NYSE:BIT) by 14.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 584,866 shares of the investment management company’s stock after selling 96,789 shares during the quarter. Royal Bank of Canada’s holdings in BlackRock Multi-Sector Income Trust were worth $7,322,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Shaker Financial Services LLC acquired a new position in shares of BlackRock Multi-Sector Income Trust during the 4th quarter valued at about $2,180,000. Rareview Capital LLC lifted its holdings in BlackRock Multi-Sector Income Trust by 55.1% in the 4th quarter. Rareview Capital LLC now owns 122,325 shares of the investment management company’s stock worth $1,598,000 after purchasing an additional 43,448 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in BlackRock Multi-Sector Income Trust during the fourth quarter worth approximately $922,000. Beta Wealth Group Inc. bought a new stake in BlackRock Multi-Sector Income Trust during the fourth quarter worth approximately $1,862,000. Finally, Wealth Care LLC acquired a new position in BlackRock Multi-Sector Income Trust during the first quarter valued at approximately $650,000.

BlackRock Multi-Sector Income Trust Price Performance

NYSE:BIT opened at $12.32 on Tuesday. BlackRock Multi-Sector Income Trust has a 12 month low of $12.12 and a 12 month high of $15.12. The company’s 50 day moving average is $12.40 and its 200-day moving average is $12.67.

BlackRock Multi-Sector Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.1237 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 12.0%.

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.