BlackRock Multi-Sector Income Trust (NYSE:BIT) Shares Cross Below 50 Day Moving Average – Time to Sell?

Shares of BlackRock Multi-Sector Income Trust (NYSE:BIT) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $12.47 and traded as low as $12.30. BlackRock Multi-Sector Income Trust shares last traded at $12.3450, with a volume of 268,662 shares trading hands.

BlackRock Multi-Sector Income Trust Stock Performance

The business’s 50-day moving average is $12.47 and its 200 day moving average is $12.77.

BlackRock Multi-Sector Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.1237 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.0%. The ex-dividend date is Tuesday, September 15th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Garton & Associates Financial Advisors LLC acquired a new stake in BlackRock Multi-Sector Income Trust during the fourth quarter worth approximately $28,000. CoreCap Advisors LLC raised its stake in BlackRock Multi-Sector Income Trust by 76.9% during the second quarter. CoreCap Advisors LLC now owns 6,900 shares of the investment management company’s stock worth $86,000 after acquiring an additional 3,000 shares in the last quarter. Cresta Advisors Ltd. bought a new position in BlackRock Multi-Sector Income Trust in the 4th quarter valued at approximately $91,000. Harbour Investments Inc. bought a new position in shares of BlackRock Multi-Sector Income Trust in the 4th quarter valued at $94,000. Finally, Comerica Bank raised its position in BlackRock Multi-Sector Income Trust by 24.0% in the fourth quarter. Comerica Bank now owns 8,619 shares of the investment management company’s stock valued at $113,000 after purchasing an additional 1,669 shares during the last quarter.

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.