BlackRock Multi-Sector Income Trust (NYSE:BIT) Stock Crosses Above 50-Day Moving Average – Should You Sell?

BlackRock Multi-Sector Income Trust (NYSE:BIT)’s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $12.60 and traded as high as $12.67. BlackRock Multi-Sector Income Trust shares last traded at $12.5150, with a volume of 186,396 shares changing hands.

BlackRock Multi-Sector Income Trust Price Performance

The company has a fifty day moving average price of $12.60 and a two-hundred day moving average price of $12.92.

Institutional Trading of BlackRock Multi-Sector Income Trust

Several institutional investors and hedge funds have recently made changes to their positions in BIT. Rivernorth Capital Management LLC increased its position in BlackRock Multi-Sector Income Trust by 0.9% during the 4th quarter. Rivernorth Capital Management LLC now owns 1,763,718 shares of the investment management company’s stock worth $23,034,000 after purchasing an additional 15,322 shares during the period. Cyndeo Wealth Partners LLC grew its holdings in shares of BlackRock Multi-Sector Income Trust by 1.8% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 837,581 shares of the investment management company’s stock worth $10,939,000 after acquiring an additional 15,201 shares during the period. Royal Bank of Canada grew its holdings in shares of BlackRock Multi-Sector Income Trust by 76.7% in the 4th quarter. Royal Bank of Canada now owns 681,655 shares of the investment management company’s stock worth $8,903,000 after acquiring an additional 295,974 shares during the period. Invesco Ltd. grew its holdings in shares of BlackRock Multi-Sector Income Trust by 53.8% in the 4th quarter. Invesco Ltd. now owns 673,510 shares of the investment management company’s stock worth $8,796,000 after acquiring an additional 235,625 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of BlackRock Multi-Sector Income Trust by 17.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 512,573 shares of the investment management company’s stock worth $6,829,000 after acquiring an additional 76,610 shares during the period.

About BlackRock Multi-Sector Income Trust

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.