BlackRock Multi-Sector Income Trust (NYSE:BIT) Stock Short Interest Jumps 89.9%

BlackRock Multi-Sector Income Trust (NYSE:BIT) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 171,252 shares, an increase of 89.9% from the September 30th total of 90,158 shares. Based on an average daily volume of 471,698 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Global Retirement Partners LLC bought a new position in BlackRock Multi-Sector Income Trust during the second quarter valued at $29,000. CoreCap Advisors LLC raised its stake in 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 in the last quarter. Western Wealth Management LLC purchased a new stake in shares of BlackRock Multi-Sector Income Trust during the 1st quarter worth $110,000. Northwestern Mutual Wealth Management Co. bought a new stake in BlackRock Multi-Sector Income Trust during the second quarter valued at about $125,000. Finally, Fifth Third Bancorp raised its holdings in BlackRock Multi-Sector Income Trust by 583.1% in the first quarter. Fifth Third Bancorp now owns 10,349 shares of the investment management company’s stock worth $130,000 after purchasing an additional 8,834 shares in the last quarter.

BlackRock Multi-Sector Income Trust Stock Performance

BIT stock opened at $11.28 on Friday. BlackRock Multi-Sector Income Trust has a 1 year low of $11.03 and a 1 year high of $13.44. The stock’s fifty day moving average price is $11.46 and its 200-day moving average price is $12.36.

BlackRock Multi-Sector Income Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be issued a $0.1237 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 13.2%. The ex-dividend date of this dividend is Friday, December 11th.

BlackRock Multi-Sector Income Trust Company Profile

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.