Blackrock Income Trust (NYSE:BKT) Shares Down 0.6% – What’s Next?

Blackrock Income Trust (NYSE:BKT) was down 0.6% during trading on Monday. The company traded as low as $9.58 and last traded at $9.6150. Approximately 81,188 shares traded hands during trading, a decline of 59% from the average session volume of 199,068 shares. The stock had previously closed at $9.67.

Blackrock Income Trust Stock Up 0.0%

The stock’s 50 day simple moving average is $9.94 and its two-hundred day simple moving average is $10.32.

Blackrock 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 given a $0.0882 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $1.06 dividend on an annualized basis and a yield of 11.0%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Advocacy Wealth Management LLC acquired a new position in Blackrock Income Trust in the second quarter valued at about $59,361,000. Advisory Solutions Group LLC bought a new position in shares of Blackrock Income Trust in the second quarter worth about $6,549,000. First Trust Advisors LP grew its holdings in shares of Blackrock Income Trust by 231.6% during the 1st quarter. First Trust Advisors LP now owns 181,020 shares of the company’s stock valued at $1,913,000 after purchasing an additional 126,426 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Blackrock Income Trust in the 2nd quarter valued at approximately $4,983,000. Finally, Concurrent Investment Advisors LLC acquired a new stake in shares of Blackrock Income Trust during the 2nd quarter valued at $4,894,000. Institutional investors and hedge funds own 39.43% of the company’s stock.

About Blackrock Income Trust

BlackRock Income Trust, Inc (NYSE:BKT) is a closed-end investment company managed by BlackRock Advisors, LLC. The fund seeks to provide current income to shareholders by investing primarily in a portfolio of fixed-income securities.

BKT generally invests in mortgage-related securities, including securities issued or guaranteed by U.S. government agencies and instrumentalities, as well as other debt investments. Its portfolio may include government and agency obligations, corporate bonds and other income-producing fixed-income instruments, subject to the fund’s investment policies and market conditions.

The fund is designed for investors seeking exposure to income-oriented fixed-income investments through a publicly traded closed-end structure.