BlackRock Multi-Sector Income Trust (NYSE:BIT) Sees Significant Growth in Short Interest

BlackRock Multi-Sector Income Trust (NYSE:BIT) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 62,900 shares, a growth of 212.9% from the September 15th total of 20,100 shares. Based on an average trading volume of 122,300 shares, the short-interest ratio is currently 0.5 days.

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.

Institutional Investors Weigh In On BlackRock Multi-Sector Income Trust

Several large investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in BlackRock Multi-Sector Income Trust by 45.0% in the 2nd 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. Cambridge Investment Research Advisors Inc. raised its position in shares of BlackRock Multi-Sector Income Trust by 10.6% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 120,937 shares of the investment management company’s stock valued at $1,763,000 after buying an additional 11,605 shares during the period. Private Advisor Group LLC lifted its stake in shares of BlackRock Multi-Sector Income Trust by 11.5% in the 2nd quarter. Private Advisor Group LLC now owns 90,760 shares of the investment management company’s stock valued at $1,323,000 after purchasing an additional 9,341 shares during the last quarter. Atria Wealth Solutions Inc. raised its holdings in BlackRock Multi-Sector Income Trust by 11.4% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 78,203 shares of the investment management company’s stock valued at $1,140,000 after buying an additional 8,011 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of BlackRock Multi-Sector Income Trust by 4.5% in the 2nd quarter. NewEdge Advisors LLC now owns 72,704 shares of the investment management company’s stock worth $1,060,000 after acquiring an additional 3,140 shares during the last quarter.

BlackRock Multi-Sector Income Trust Stock Down 0.5 %

BIT traded down $0.08 during trading on Friday, hitting $14.97. The company’s stock had a trading volume of 236,616 shares, compared to its average volume of 108,518. BlackRock Multi-Sector Income Trust has a twelve month low of $13.65 and a twelve month high of $15.98. The business’s fifty day simple moving average is $14.95 and its 200 day simple moving average is $14.99.

BlackRock Multi-Sector Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.1237 per share. This represents a $1.48 annualized dividend and a yield of 9.92%. The ex-dividend date of this dividend is 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.