BlackRock Multi-Sector Income Trust (NYSE:BIT) Share Price Crosses Below Fifty Day Moving Average – Time to Sell?

BlackRock Multi-Sector Income Trust (NYSE:BIT)’s share price passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $14.98 and traded as low as $14.76. BlackRock Multi-Sector Income Trust shares last traded at $14.81, with a volume of 146,587 shares changing hands.

Analysts Set New Price Targets

Separately, Royal Bank of Canada raised shares of BlackRock Multi-Sector Income Trust to a “hold” rating in a report on Thursday, July 25th.

BlackRock Multi-Sector Income Trust Price Performance

The business’s 50-day moving average is $14.98 and its two-hundred day moving average is $14.91.

BlackRock Multi-Sector Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be given a $0.1237 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $1.48 dividend on an annualized basis and a yield of 10.03%.

Hedge Funds Weigh In On BlackRock Multi-Sector Income Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of BIT. Janney Montgomery Scott LLC grew its position in BlackRock Multi-Sector Income Trust by 2.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 54,153 shares of the investment management company’s stock valued at $860,000 after buying an additional 1,120 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of BlackRock Multi-Sector Income Trust during the 1st quarter worth $51,000. Concurrent Investment Advisors LLC purchased a new stake in shares of BlackRock Multi-Sector Income Trust during the 1st quarter worth $164,000. Atria Wealth Solutions Inc. boosted its position in shares of BlackRock Multi-Sector Income Trust by 11.4% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 78,203 shares of the investment management company’s stock worth $1,140,000 after purchasing an additional 8,011 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted 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 worth $1,763,000 after purchasing an additional 11,605 shares in the last quarter.

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.