Blackrock Income Trust (NYSE:BKT) Stock Crosses Below 50 Day Moving Average – Should You Sell?

Blackrock Income Trust (NYSE:BKT) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $10.47 and traded as low as $10.40. Blackrock Income Trust shares last traded at $10.5050, with a volume of 79,924 shares trading hands.

Blackrock Income Trust Trading Up 0.3%

The company’s fifty day moving average is $10.47 and its 200 day moving average is $10.69.

Blackrock Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $0.0882 dividend. This represents a c) dividend on an annualized basis and a yield of 10.1%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Sankala Group LLC purchased a new stake in Blackrock Income Trust in the fourth quarter worth $46,000. Comerica Bank boosted its position in shares of Blackrock Income Trust by 43.0% in the 3rd quarter. Comerica Bank now owns 10,533 shares of the company’s stock worth $118,000 after purchasing an additional 3,166 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Blackrock Income Trust during the 1st quarter valued at approximately $120,000. Commonwealth Equity Services LLC purchased a new position in Blackrock Income Trust during the fourth quarter valued at $134,000. Finally, First Nebraska Trust Co bought a new stake in Blackrock Income Trust in the first quarter worth $172,000. 39.43% of the stock is owned by hedge funds and other institutional investors.

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.