Shaker Financial Services LLC Acquires New Stake in BlackRock Multi-Sector Income Trust (NYSE:BIT)

Shaker Financial Services LLC acquired a new stake in BlackRock Multi-Sector Income Trust (NYSE:BIT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 44,841 shares of the investment management company’s stock, valued at approximately $682,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. ORG Partners LLC bought a new position in shares of BlackRock Multi-Sector Income Trust in the first quarter worth about $51,000. Atria Wealth Solutions Inc. increased its holdings in BlackRock Multi-Sector Income Trust by 11.4% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 78,203 shares of the investment management company’s stock worth $1,140,000 after purchasing an additional 8,011 shares during the period. Raymond James & Associates raised its position in BlackRock Multi-Sector Income Trust by 14.2% during the 3rd quarter. Raymond James & Associates now owns 196,029 shares of the investment management company’s stock valued at $2,980,000 after purchasing an additional 24,447 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of BlackRock Multi-Sector Income Trust in the 2nd quarter worth $791,000. Finally, Envestnet Asset Management Inc. grew its position in shares of BlackRock Multi-Sector Income Trust by 45.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 205,703 shares of the investment management company’s stock worth $2,999,000 after buying an additional 63,811 shares in the last quarter.

BlackRock Multi-Sector Income Trust Price Performance

Shares of BIT stock opened at $14.92 on Thursday. BlackRock Multi-Sector Income Trust has a 52-week low of $14.39 and a 52-week high of $15.98. The company’s 50 day moving average is $14.97 and its 200 day moving average is $14.89.

BlackRock Multi-Sector Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.1237 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 9.95%.

Analysts Set New Price Targets

Separately, Royal Bank of Canada raised shares of BlackRock Multi-Sector Income Trust to a “hold” rating in a research note on Thursday, July 25th.

BlackRock Multi-Sector Income Trust Profile

BlackRock Multi-Sector Income Trust is a close ended fixed income mutual fund launched by BlackRock, Inc It is co-managed by BlackRock Advisors, LLC and BlackRock (Singapore) Limited. The fund invests in fixed income markets. It invests primarily in loan and debt instruments and other investments with similar economic characteristic.