BlackRock Multi-Sector Income Trust (NYSE:BIT) Stock Crosses Below 50-Day Moving Average – Time to Sell?

BlackRock Multi-Sector Income Trust (NYSE:BIT) passed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $11.77 and traded as low as $11.21. BlackRock Multi-Sector Income Trust shares last traded at $11.2660, with a volume of 366,680 shares trading hands.

BlackRock Multi-Sector Income Trust Stock Performance

The firm’s 50 day simple moving average is $11.77 and its 200 day simple moving average is $12.25.

BlackRock Multi-Sector Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be issued a dividend of $0.1237 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a $1.48 annualized dividend and a dividend yield of 13.2%.

Institutional Trading of BlackRock Multi-Sector Income Trust

Several hedge funds have recently added to or reduced their stakes in BIT. Rareview Capital LLC grew its stake in shares of BlackRock Multi-Sector Income Trust by 9.7% during the second quarter. Rareview Capital LLC now owns 162,069 shares of the investment management company’s stock valued at $2,029,000 after buying an additional 14,306 shares during the last quarter. IMC Chicago LLC purchased a new stake in BlackRock Multi-Sector Income Trust during the 2nd quarter valued at about $239,000. Wedbush Securities Inc. boosted its holdings in BlackRock Multi-Sector Income Trust by 31.6% during the 2nd quarter. Wedbush Securities Inc. now owns 19,514 shares of the investment management company’s stock valued at $244,000 after acquiring an additional 4,682 shares during the period. Almitas Capital LLC bought a new position in BlackRock Multi-Sector Income Trust during the 2nd quarter worth approximately $245,000. Finally, Bank of America Corp DE bought a new position in BlackRock Multi-Sector Income Trust during the 2nd quarter worth approximately $1,527,000.

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.