Blackrock Income Trust (NYSE:BKT) Stock Price Down 1.6% – Here’s What Happened

Shares of Blackrock Income Trust (NYSE:BKT) traded down 1.6% on Tuesday. The stock traded as low as $9.84 and last traded at $9.88. Approximately 88,336 shares changed hands during trading, a decline of 22% from the average daily volume of 113,056 shares. The stock had previously closed at $10.04.

Blackrock Income Trust Price Performance

The company’s 50-day moving average is $9.78 and its 200-day moving average is $10.44.

Blackrock 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 given a dividend of $0.0882 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a $1.06 annualized dividend and a yield of 10.7%.

Hedge Funds Weigh In On Blackrock Income Trust

A number of hedge funds have recently made changes to their positions in BKT. Legacy Wealth Managment LLC ID acquired a new stake in Blackrock Income Trust during the 2nd quarter valued at approximately $3,662,000. Advocacy Wealth Management LLC purchased a new position in shares of Blackrock Income Trust during the 2nd quarter valued at approximately $59,361,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Blackrock Income Trust during the second quarter worth approximately $2,751,000. First Trust Advisors LP grew its position in shares of Blackrock Income Trust by 231.6% during the first quarter. First Trust Advisors LP now owns 181,020 shares of the company’s stock worth $1,913,000 after buying an additional 126,426 shares in the last quarter. Finally, Advisory Solutions Group LLC acquired a new stake in shares of Blackrock Income Trust during the second quarter worth approximately $6,549,000. Institutional investors and hedge funds own 39.43% of the company’s stock.

About Blackrock Income Trust

BlackRock Income Trust, Inc. (NYSE: BKT) is a closed-end investment company that seeks to provide investors with a high level of current income. The fund invests primarily in fixed-income securities, including mortgage-backed securities and other long-term debt instruments. BKT’s portfolio may include securities issued or backed by government agencies, corporations and other entities. As a fixed-income fund, its performance is influenced by interest-rate movements, credit conditions, prepayment activity and changes in the value of the securities it holds.