Blackrock Income Trust (NYSE:BKT) Shares Cross Below 50-Day Moving Average – What’s Next?

Blackrock Income Trust (NYSE:BKT)’s stock price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $10.48 and traded as low as $10.21. Blackrock Income Trust shares last traded at $10.2350, with a volume of 170,047 shares changing hands.

Blackrock Income Trust Stock Performance

The stock has a 50 day simple moving average of $10.48 and a two-hundred day simple moving average of $10.73.

Blackrock Income Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.0882 per share. This represents a c) annualized dividend and a yield of 10.3%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Sankala Group LLC purchased a new stake in Blackrock Income Trust in the 4th quarter worth approximately $46,000. Comerica Bank increased its holdings in shares of Blackrock Income Trust by 43.0% during the 3rd quarter. Comerica Bank now owns 10,533 shares of the company’s stock valued at $118,000 after purchasing an additional 3,166 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Blackrock Income Trust during the 1st quarter valued at approximately $120,000. Commonwealth Equity Services LLC acquired a new position in shares of Blackrock Income Trust in the 4th quarter valued at $134,000. Finally, Readystate Asset Management LP acquired a new position in shares of Blackrock Income Trust in the 4th quarter valued at $173,000. 39.43% of the stock is owned by institutional investors and hedge funds.

About Blackrock Income Trust

BlackRock Income Trust (NYSE: BKT) is a diversified, closed-end management investment company sponsored by BlackRock, Inc The fund seeks to provide current income through investments in a broad array of fixed-income securities. Its holdings typically include high-yield corporate bonds, investment-grade corporate debt, government and agency obligations and securitized products such as mortgage- and asset-backed securities.

The trust employs active portfolio management, aiming to capitalize on credit opportunities across global and domestic markets.