BlackRock Multi-Sector Income Trust (NYSE:BIT) Shares Cross Above Fifty Day Moving Average of $14.77

BlackRock Multi-Sector Income Trust (NYSE:BIT)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $14.77 and traded as high as $15.04. BlackRock Multi-Sector Income Trust shares last traded at $15.00, with a volume of 83,046 shares.

Wall Street Analysts Forecast Growth

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

BlackRock Multi-Sector Income Trust Price Performance

The company’s 50-day moving average price is $14.78 and its 200 day moving average price is $15.06.

BlackRock Multi-Sector Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.1237 per share. The ex-dividend date is Monday, September 16th. This represents a $1.48 dividend on an annualized basis and a yield of 9.84%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. NewEdge Advisors LLC increased its stake in BlackRock Multi-Sector Income Trust by 4.5% during the 2nd quarter. NewEdge Advisors LLC now owns 72,704 shares of the investment management company’s stock valued at $1,060,000 after purchasing an additional 3,140 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in BlackRock Multi-Sector Income Trust by 45.0% during the second quarter. Envestnet Asset Management Inc. now owns 205,703 shares of the investment management company’s stock valued at $2,999,000 after purchasing an additional 63,811 shares in the last quarter. Private Advisor Group LLC lifted its holdings in BlackRock Multi-Sector Income Trust by 11.5% during the second quarter. Private Advisor Group LLC now owns 90,760 shares of the investment management company’s stock valued at $1,323,000 after purchasing an additional 9,341 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in BlackRock Multi-Sector Income Trust during the second quarter valued at approximately $791,000. Finally, Verus Capital Partners LLC purchased a new position in BlackRock Multi-Sector Income Trust during the second quarter valued at approximately $219,000.

BlackRock Multi-Sector Income Trust Company Profile

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.