BlackRock Multi-Sector Income Trust (NYSE:BIT) Short Interest Update

BlackRock Multi-Sector Income Trust (NYSE:BIT) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 79,600 shares, a growth of 189.5% from the October 15th total of 27,500 shares. Based on an average trading volume of 131,600 shares, the short-interest ratio is presently 0.6 days.

BlackRock Multi-Sector Income Trust Trading Down 0.1 %

Shares of BIT opened at $14.79 on Friday. The business’s 50-day moving average price is $14.95 and its 200-day moving average price is $14.88. BlackRock Multi-Sector Income Trust has a twelve month low of $14.39 and a twelve month high of $15.98.

BlackRock Multi-Sector Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.1237 per share. This represents a $1.48 annualized dividend and a dividend yield of 10.04%. The ex-dividend date of this dividend is Friday, November 15th.

Institutional Investors Weigh In On BlackRock Multi-Sector Income Trust

Several hedge funds and other institutional investors have recently modified their holdings of BIT. Janney Montgomery Scott LLC increased its position in shares of 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 valued at $860,000 after buying an additional 1,120 shares during the period. Concurrent Investment Advisors LLC bought a new position in shares of BlackRock Multi-Sector Income Trust in the first quarter worth approximately $164,000. Atria Wealth Solutions Inc. increased its position in shares of BlackRock Multi-Sector Income Trust by 11.4% in the second quarter. Atria Wealth Solutions Inc. now owns 78,203 shares of the investment management company’s stock worth $1,140,000 after purchasing an additional 8,011 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of BlackRock Multi-Sector Income Trust by 10.6% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 120,937 shares of the investment management company’s stock worth $1,763,000 after purchasing an additional 11,605 shares during the last quarter. Finally, Verus Capital Partners LLC bought a new position in shares of BlackRock Multi-Sector Income Trust in the second quarter worth approximately $219,000.

Wall Street Analyst Weigh In

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

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.