Short Interest in Blackrock Income Trust (NYSE:BKT) Drops By 50.7%

Blackrock Income Trust (NYSE:BKT) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 52,944 shares, a decrease of 50.7% from the July 15th total of 107,421 shares. Based on an average daily trading volume, of 97,875 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.2% of the company’s stock are sold short.

Blackrock Income Trust Trading Down 0.8%

NYSE:BKT traded down $0.08 during trading hours on Friday, reaching $10.42. 41,560 shares of the stock were exchanged, compared to its average volume of 124,382. The firm has a 50 day simple moving average of $10.47 and a 200-day simple moving average of $10.67. Blackrock Income Trust has a 52 week low of $10.16 and a 52 week high of $11.86.

Blackrock Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $0.0882 per share. This represents a c) annualized dividend and a dividend yield of 10.2%. The ex-dividend date of this dividend is Tuesday, September 15th.

Hedge Funds Weigh In On Blackrock Income Trust

Several large investors have recently added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in Blackrock Income Trust by 18.2% in the second quarter. Invesco Ltd. now owns 256,017 shares of the company’s stock worth $3,008,000 after purchasing an additional 39,410 shares during the period. Raymond James Financial Inc. raised its holdings in shares of Blackrock Income Trust by 6.7% during the second quarter. Raymond James Financial Inc. now owns 1,235,387 shares of the company’s stock worth $14,516,000 after purchasing an additional 77,724 shares during the period. Comerica Bank lifted 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 buying an additional 3,166 shares during the last quarter. Nomura Holdings Inc. acquired a new position in shares of Blackrock Income Trust in the 3rd quarter valued at about $2,957,000. Finally, Ramiah Investment Group acquired a new position in shares of Blackrock Income Trust in the 4th quarter valued at about $457,000. 39.43% of the stock is currently owned by institutional investors.

Blackrock Income Trust Company Profile

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.