BlackRock Multi-Sector Income Trust (NYSE:BIT) Shares Cross Below 50 Day Moving Average – Here’s Why

BlackRock Multi-Sector Income Trust (NYSE:BIT) shares crossed 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 trading hands.

BlackRock Multi-Sector Income Trust Trading Down 0.9%

The business’s 50 day moving average is $11.38 and its two-hundred day moving average is $12.29.

BlackRock Multi-Sector Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be paid a $0.1237 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $1.48 dividend on an annualized basis and a yield of 13.1%.

Institutional Investors Weigh In On BlackRock Multi-Sector Income Trust

A number of institutional investors have recently bought and sold shares of BIT. Global Retirement Partners LLC acquired a new position in shares of BlackRock Multi-Sector Income Trust in the 2nd quarter valued at about $29,000. Bessemer Group Inc. bought a new position in shares of BlackRock Multi-Sector Income Trust in the 3rd quarter valued at approximately $30,000. CoreCap Advisors LLC lifted its stake 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 worth $86,000 after buying an additional 3,000 shares during the last quarter. Western Wealth Management LLC bought a new stake in BlackRock Multi-Sector Income Trust during the first quarter valued at about $110,000. Finally, StoneX Group Inc. acquired a new stake in BlackRock Multi-Sector Income Trust in the 3rd quarter valued at approximately $124,000.

About BlackRock Multi-Sector Income Trust

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.