BlackRock Multi-Sector Income Trust (NYSE:BIT) Stock Price Crosses Above 50-Day Moving Average of $14.77

BlackRock Multi-Sector Income Trust (NYSE:BIT) crossed 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 traded.

Analysts Set New Price Targets

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

BlackRock Multi-Sector Income Trust Trading Down 0.1 %

The stock has a 50-day moving average of $14.77 and a 200 day moving average of $15.06.

BlackRock Multi-Sector Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.1237 per share. This represents a $1.48 annualized dividend and a yield of 9.90%. The ex-dividend date is Monday, September 16th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. ORG Partners LLC acquired a new position in BlackRock Multi-Sector Income Trust during the 1st quarter worth $51,000. Principal Securities Inc. acquired a new position in BlackRock Multi-Sector Income Trust during the 4th quarter worth $93,000. Private Advisor Group LLC lifted its holdings in BlackRock Multi-Sector Income Trust by 9.8% during the 4th quarter. Private Advisor Group LLC now owns 81,132 shares of the investment management company’s stock worth $1,217,000 after buying an additional 7,260 shares in the last quarter. Atria Wealth Solutions Inc. lifted its holdings in BlackRock Multi-Sector Income Trust by 11.4% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 78,203 shares of the investment management company’s stock worth $1,140,000 after buying an additional 8,011 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in BlackRock Multi-Sector Income Trust during the 2nd quarter worth $791,000.

About BlackRock Multi-Sector Income Trust

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.