BlackRock Multi-Sector Income Trust (NYSE:BIT) Share Price Crosses Above 50 Day Moving Average – Here’s Why

BlackRock Multi-Sector Income Trust (NYSE:BIT) shares passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $12.59 and traded as high as $12.59. BlackRock Multi-Sector Income Trust shares last traded at $12.5850, with a volume of 228,582 shares.

BlackRock Multi-Sector Income Trust Price Performance

The company’s 50-day simple moving average is $12.59 and its two-hundred day simple moving average is $12.95.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Garton & Associates Financial Advisors LLC bought a new position in shares of BlackRock Multi-Sector Income Trust during the 4th quarter valued at approximately $28,000. Cresta Advisors Ltd. bought a new position in shares of BlackRock Multi-Sector Income Trust during the 4th quarter valued at approximately $91,000. Creekmur Asset Management LLC grew its stake in shares of BlackRock Multi-Sector Income Trust by 50.0% during the 3rd quarter. Creekmur Asset Management LLC now owns 7,079 shares of the investment management company’s stock valued at $95,000 after acquiring an additional 2,360 shares during the period. Harbour Investments Inc. bought a new position in shares of BlackRock Multi-Sector Income Trust during the 4th quarter valued at approximately $94,000. Finally, Anfield Capital Management LLC bought a new position in shares of BlackRock Multi-Sector Income Trust during the 3rd quarter valued at approximately $99,000.

BlackRock Multi-Sector Income Trust Company Profile

BlackRock Multi-Sector Income Trust (NYSE:BIT) is a closed-end management investment company sponsored by BlackRock, Inc The trust seeks to provide high current income and total return by investing across a broad range of income-producing sectors. It trades on the New York Stock Exchange under the ticker symbol BIT and is managed by BlackRock Advisors, LLC.

The trust’s portfolio is diversified across multiple sectors of the fixed-income market, including investment-grade corporate bonds, high-yield corporate debt, U.S.