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

BlackRock Multi-Sector Income Trust (NYSE:BIT) shares passed below its fifty day moving average during trading on Monday . The stock has a fifty 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 traded.

BlackRock Multi-Sector Income Trust Price Performance

The company’s 50-day moving average is $12.46 and its two-hundred day moving average is $12.76.

BlackRock Multi-Sector Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.1237 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 12.1%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Garton & Associates Financial Advisors LLC bought a new stake in BlackRock Multi-Sector Income Trust during the fourth quarter worth $28,000. CoreCap Advisors LLC boosted its holdings in BlackRock Multi-Sector Income Trust by 76.9% during the 2nd 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 during the last quarter. Cresta Advisors Ltd. purchased a new position in BlackRock Multi-Sector Income Trust during the 4th quarter worth $91,000. Harbour Investments Inc. bought a new stake in shares of BlackRock Multi-Sector Income Trust in the 4th quarter worth $94,000. Finally, Comerica Bank grew its stake in shares of BlackRock Multi-Sector Income Trust by 24.0% in the 4th quarter. Comerica Bank now owns 8,619 shares of the investment management company’s stock worth $113,000 after acquiring an additional 1,669 shares in the last quarter.

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.