BlackRock Multi-Sector Income Trust (NYSE:BIT) Sees Large Drop in Short Interest

BlackRock Multi-Sector Income Trust (NYSE:BIT) was the target of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 56,500 shares, a decrease of 44.6% from the March 15th total of 102,000 shares. Based on an average daily trading volume, of 197,600 shares, the days-to-cover ratio is currently 0.3 days.

BlackRock Multi-Sector Income Trust Price Performance

NYSE BIT opened at $13.69 on Wednesday. BlackRock Multi-Sector Income Trust has a twelve month low of $12.50 and a twelve month high of $15.50. The business’s fifty day moving average is $14.38 and its 200 day moving average is $14.61.

BlackRock Multi-Sector Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a $0.1237 dividend. This represents a $1.48 annualized dividend and a yield of 10.85%. The ex-dividend date of this dividend is Tuesday, April 15th.

Institutional Trading of BlackRock Multi-Sector Income Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new position in shares of BlackRock Multi-Sector Income Trust in the 4th quarter worth approximately $27,000. Spire Wealth Management bought a new stake in shares of BlackRock Multi-Sector Income Trust in the 4th quarter worth approximately $146,000. StoneX Group Inc. purchased a new position in BlackRock Multi-Sector Income Trust in the fourth quarter valued at approximately $151,000. EP Wealth Advisors LLC purchased a new stake in BlackRock Multi-Sector Income Trust in the fourth quarter worth $170,000. Finally, Concurrent Investment Advisors LLC lifted its position in shares of BlackRock Multi-Sector Income Trust by 13.8% during the 4th quarter. Concurrent Investment Advisors LLC now owns 12,190 shares of the investment management company’s stock valued at $178,000 after buying an additional 1,479 shares during 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.