BlackRock Multi-Sector Income Trust (NYSE:BIT) Short Interest Down 49.1% in September

BlackRock Multi-Sector Income Trust (NYSE:BIT) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 20,100 shares, a decrease of 49.1% from the August 31st total of 39,500 shares. Based on an average trading volume of 117,700 shares, the short-interest ratio is currently 0.2 days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BIT. Mesirow Financial Investment Management Inc. bought a new stake in BlackRock Multi-Sector Income Trust in the 1st quarter worth approximately $2,563,000. Envestnet Asset Management Inc. increased its position 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 acquiring an additional 63,811 shares during the last quarter. Wolverine Asset Management LLC bought a new position in BlackRock Multi-Sector Income Trust in the second quarter valued at about $791,000. Steward Partners Investment Advisory LLC boosted its position in BlackRock Multi-Sector Income Trust by 447.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 51,780 shares of the investment management company’s stock worth $777,000 after purchasing an additional 42,317 shares during the last quarter. Finally, Verus Capital Partners LLC purchased a new position in BlackRock Multi-Sector Income Trust in the second quarter worth about $219,000.

Analysts Set New Price Targets

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

BlackRock Multi-Sector Income Trust Price Performance

NYSE BIT traded up $0.01 during trading hours on Thursday, hitting $15.16. The company’s stock had a trading volume of 107,543 shares, compared to its average volume of 104,693. BlackRock Multi-Sector Income Trust has a 12 month low of $13.65 and a 12 month high of $15.98. The company’s 50 day simple moving average is $14.84 and its two-hundred day simple moving average is $15.03.

BlackRock Multi-Sector Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be paid a $0.1237 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 9.79%.

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.