BlackRock Multi-Sector Income Trust (NYSE:BIT) Share Price Breaks Below 50 Day Moving Average – Should You Sell?

BlackRock Multi-Sector Income Trust (NYSE:BIT)’s stock price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $11.38 and traded as low as $11.30. BlackRock Multi-Sector Income Trust shares last traded at $11.3450, with a volume of 312,113 shares traded.

BlackRock Multi-Sector Income Trust Trading Down 1.2%

The firm has a 50-day simple moving average of $11.35 and a 200-day simple moving average of $12.28.

BlackRock Multi-Sector Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be paid a dividend of $0.1237 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 13.3%. The ex-dividend date is Friday, December 11th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new stake in shares of BlackRock Multi-Sector Income Trust during the second quarter valued at about $29,000. Bessemer Group Inc. purchased a new stake in shares of BlackRock Multi-Sector Income Trust in the third quarter worth about $30,000. CoreCap Advisors LLC boosted its position in shares of BlackRock Multi-Sector Income Trust by 76.9% in the second quarter. CoreCap Advisors LLC now owns 6,900 shares of the investment management company’s stock valued at $86,000 after acquiring an additional 3,000 shares during the period. Western Wealth Management LLC bought a new position in shares of BlackRock Multi-Sector Income Trust in the first quarter valued at approximately $110,000. Finally, StoneX Group Inc. purchased a new position in BlackRock Multi-Sector Income Trust during the third quarter valued at approximately $124,000.

BlackRock Multi-Sector Income Trust Company Profile

BlackRock Multi-Sector Income Trust (NYSE: BIT) is a closed-end management investment company sponsored and managed by BlackRock. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective, by investing in a diversified portfolio of fixed-income securities and other income-producing assets. BIT invests across multiple sectors of the global debt markets, including investment-grade and below-investment-grade corporate bonds, floating-rate loans, mortgage- and asset-backed securities, sovereign and emerging-market debt, and other structured or securitized investments.