Royal Bank of Canada Upgrades BlackRock Multi-Sector Income Trust (NYSE:BIT) to Hold

BlackRock Multi-Sector Income Trust (NYSE:BIT) was upgraded by equities researchers at Royal Bank of Canada to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

BlackRock Multi-Sector Income Trust Stock Performance

NYSE:BIT opened at $14.70 on Thursday. The firm has a 50-day simple moving average of $14.71 and a 200-day simple moving average of $15.17. BlackRock Multi-Sector Income Trust has a one year low of $13.65 and a one year high of $15.98.

Institutional Trading of BlackRock Multi-Sector Income Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ORG Partners LLC acquired a new position in shares of BlackRock Multi-Sector Income Trust in the 1st quarter valued at approximately $51,000. Principal Securities Inc. bought a new position in BlackRock Multi-Sector Income Trust in the 4th quarter valued at about $93,000. Concurrent Investment Advisors LLC bought a new position in BlackRock Multi-Sector Income Trust in the 1st quarter worth about $164,000. International Assets Investment Management LLC bought a new position in shares of BlackRock Multi-Sector Income Trust in the 4th quarter worth approximately $1,610,000. Finally, Virtu Financial LLC purchased a new position in BlackRock Multi-Sector Income Trust during the fourth quarter valued at approximately $176,000.

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.