Blackrock Income Trust (NYSE:BKT) Stock Falls 0.6% – Time to Sell?

Shares of Blackrock Income Trust (NYSE:BKT) fell 0.6% on Monday. The stock traded as low as $9.58 and last traded at $9.6150. Approximately 81,188 shares were traded during mid-day trading, a decline of 59% from the average session volume of 199,068 shares. The stock had previously closed at $9.67.

Blackrock Income Trust Stock Down 0.6%

The business has a fifty day simple moving average of $9.96 and a 200-day simple moving average of $10.33.

Blackrock Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be issued a dividend of $0.0882 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date is Friday, December 11th.

Institutional Trading of Blackrock Income Trust

Hedge funds and other institutional investors have recently modified their holdings of the business. Sankala Group LLC bought a new position in shares of Blackrock Income Trust in the 4th quarter worth about $46,000. Orion Capital Management LLC purchased a new position in Blackrock Income Trust during the 2nd quarter valued at about $85,000. Kestra Advisory Services LLC purchased a new position in Blackrock Income Trust during the 1st quarter valued at about $120,000. First Nebraska Trust Co purchased a new position in Blackrock Income Trust during the 1st quarter valued at about $172,000. Finally, Fifth Third Bancorp purchased a new position in Blackrock Income Trust during the 1st quarter valued at about $174,000. 39.43% of the stock is owned by hedge funds and other institutional investors.

About Blackrock Income Trust

BlackRock Income Trust, Inc (NYSE:BKT) is a closed-end investment company managed by BlackRock Advisors, LLC. The fund seeks to provide current income to shareholders by investing primarily in a portfolio of fixed-income securities.

BKT generally invests in mortgage-related securities, including securities issued or guaranteed by U.S. government agencies and instrumentalities, as well as other debt investments. Its portfolio may include government and agency obligations, corporate bonds and other income-producing fixed-income instruments, subject to the fund’s investment policies and market conditions.

The fund is designed for investors seeking exposure to income-oriented fixed-income investments through a publicly traded closed-end structure.