BlackRock Multi-Sector Income Trust (NYSE:BIT) Shares Pass Above 50 Day Moving Average – Should You Sell?

Shares of BlackRock Multi-Sector Income Trust (NYSE:BIT) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $12.60 and traded as high as $12.67. BlackRock Multi-Sector Income Trust shares last traded at $12.5150, with a volume of 186,396 shares trading hands.

BlackRock Multi-Sector Income Trust Trading Down 1.1%

The company has a 50-day moving average price of $12.60 and a 200-day moving average price of $12.92.

Hedge Funds Weigh In On BlackRock Multi-Sector Income Trust

Several hedge funds and other institutional investors have recently made changes to their positions in BIT. First Trust Advisors LP boosted its position in shares of BlackRock Multi-Sector Income Trust by 7.1% during the second quarter. First Trust Advisors LP now owns 61,478 shares of the investment management company’s stock worth $898,000 after buying an additional 4,070 shares during the period. NewEdge Advisors LLC boosted its position in shares of BlackRock Multi-Sector Income Trust by 2.0% during the second quarter. NewEdge Advisors LLC now owns 84,429 shares of the investment management company’s stock worth $1,233,000 after buying an additional 1,678 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of BlackRock Multi-Sector Income Trust during the third quarter worth approximately $155,000. Thrivent Financial for Lutherans boosted its position in shares of BlackRock Multi-Sector Income Trust by 33.3% during the third quarter. Thrivent Financial for Lutherans now owns 203,724 shares of the investment management company’s stock worth $2,728,000 after buying an additional 50,929 shares during the period. Finally, Penserra Capital Management LLC acquired a new position in shares of BlackRock Multi-Sector Income Trust during the third quarter worth approximately $6,202,000.

BlackRock Multi-Sector Income Trust Company Profile

BlackRock Multi-Sector Income Trust (NYSE:BIT) is a closed-end management investment company sponsored by BlackRock, Inc The trust seeks to provide high current income and total return by investing across a broad range of income-producing sectors. It trades on the New York Stock Exchange under the ticker symbol BIT and is managed by BlackRock Advisors, LLC.

The trust’s portfolio is diversified across multiple sectors of the fixed-income market, including investment-grade corporate bonds, high-yield corporate debt, U.S.