Rivernorth Capital Management LLC Sells 545,605 Shares of BlackRock Multi-Sector Income Trust $BIT

Rivernorth Capital Management LLC trimmed its position in BlackRock Multi-Sector Income Trust (NYSE:BIT) by 30.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,218,113 shares of the investment management company’s stock after selling 545,605 shares during the period. BlackRock Multi-Sector Income Trust comprises approximately 0.8% of Rivernorth Capital Management LLC’s holdings, making the stock its 28th largest holding. Rivernorth Capital Management LLC’s holdings in BlackRock Multi-Sector Income Trust were worth $15,251,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Garton & Associates Financial Advisors LLC acquired a new position in shares of BlackRock Multi-Sector Income Trust during the 4th quarter worth about $28,000. Cresta Advisors Ltd. bought a new stake in shares of BlackRock Multi-Sector Income Trust in the fourth quarter valued at about $91,000. Harbour Investments Inc. bought a new stake in BlackRock Multi-Sector Income Trust in the 4th quarter valued at approximately $94,000. Comerica Bank grew its stake in shares of BlackRock Multi-Sector Income Trust by 24.0% during the 4th quarter. Comerica Bank now owns 8,619 shares of the investment management company’s stock worth $113,000 after acquiring an additional 1,669 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in BlackRock Multi-Sector Income Trust by 583.1% during the first quarter. Fifth Third Bancorp now owns 10,349 shares of the investment management company’s stock worth $130,000 after purchasing an additional 8,834 shares during the last quarter.

BlackRock Multi-Sector Income Trust Stock Performance

BIT stock opened at $12.18 on Wednesday. BlackRock Multi-Sector Income Trust has a twelve month low of $12.13 and a twelve month high of $15.12. The business has a 50 day moving average price of $12.44 and a two-hundred day moving average price of $12.73.

BlackRock Multi-Sector Income Trust Announces Dividend

The business also recently declared 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 12.2%.

BlackRock Multi-Sector Income Trust Company 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.