Private Advisor Group LLC Reduces Stock Position in BlackRock Multi-Sector Income Trust (NYSE:BIT)

Private Advisor Group LLC lessened its holdings in BlackRock Multi-Sector Income Trust (NYSE:BIT) by 8.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,047 shares of the investment management company’s stock after selling 7,713 shares during the quarter. Private Advisor Group LLC’s holdings in BlackRock Multi-Sector Income Trust were worth $1,262,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BIT. ORG Partners LLC purchased a new position in BlackRock Multi-Sector Income Trust in the 1st quarter valued at about $51,000. Concurrent Investment Advisors LLC bought a new position in BlackRock Multi-Sector Income Trust during the 1st quarter valued at about $164,000. Verus Capital Partners LLC bought a new stake in shares of BlackRock Multi-Sector Income Trust during the second quarter worth approximately $219,000. Wolverine Asset Management LLC acquired a new position in BlackRock Multi-Sector Income Trust during the second quarter valued at approximately $791,000. Finally, Janney Montgomery Scott LLC boosted its holdings in BlackRock Multi-Sector Income Trust by 2.1% during the first quarter. Janney Montgomery Scott LLC now owns 54,153 shares of the investment management company’s stock worth $860,000 after purchasing an additional 1,120 shares during the last quarter.

Wall Street Analyst Weigh In

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

BlackRock Multi-Sector Income Trust Stock Performance

Shares of BlackRock Multi-Sector Income Trust stock opened at $14.82 on Friday. The company’s 50 day moving average price is $14.98 and its 200-day moving average price is $14.90. BlackRock Multi-Sector Income Trust has a 52-week low of $13.97 and a 52-week high of $15.98.

BlackRock Multi-Sector Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given a $0.1237 dividend. This represents a $1.48 annualized dividend and a yield of 10.02%. The ex-dividend date of this dividend was Tuesday, October 15th.

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.