BlackRock Multi-Sector Income Trust (NYSE:BIT) Share Price Passes Below Two Hundred Day Moving Average of $15.17

BlackRock Multi-Sector Income Trust (NYSE:BIT)’s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $15.17 and traded as low as $14.63. BlackRock Multi-Sector Income Trust shares last traded at $14.70, with a volume of 89,933 shares changing hands.

Analyst Upgrades and Downgrades

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

BlackRock Multi-Sector Income Trust Price Performance

The firm’s 50 day simple moving average is $14.71 and its 200-day simple moving average is $15.17.

BlackRock Multi-Sector Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be paid a $0.1237 dividend. The ex-dividend date is Monday, July 15th. This represents a $1.48 annualized dividend and a yield of 10.10%.

Hedge Funds Weigh In On BlackRock Multi-Sector Income Trust

Several institutional investors have recently bought and sold shares of BIT. International Assets Investment Management LLC acquired a new position in BlackRock Multi-Sector Income Trust in the 4th quarter valued at $1,610,000. Atria Wealth Solutions Inc. grew its stake in shares of BlackRock Multi-Sector Income Trust by 75.2% during the 4th quarter. Atria Wealth Solutions Inc. now owns 49,007 shares of the investment management company’s stock worth $735,000 after purchasing an additional 21,027 shares during the period. Private Advisor Group LLC grew its stake in shares of 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 purchasing an additional 7,260 shares during the period. Principal Securities Inc. acquired a new position in shares of BlackRock Multi-Sector Income Trust during the 4th quarter worth $93,000. Finally, Foundations Investment Advisors LLC grew its stake in shares of BlackRock Multi-Sector Income Trust by 12.3% during the 4th quarter. Foundations Investment Advisors LLC now owns 219,801 shares of the investment management company’s stock worth $3,418,000 after purchasing an additional 24,010 shares during the period.

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.