BlackRock Multi-Sector Income Trust (NYSE:BIT) Sees Significant Decline in Short Interest

BlackRock Multi-Sector Income Trust (NYSE:BIT) was the target of a large drop in short interest in September. As of September 30th, there was short interest totaling 90,158 shares, a drop of 64.6% from the September 15th total of 254,922 shares. Based on an average daily trading volume, of 560,297 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On BlackRock Multi-Sector Income Trust

A number of hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC purchased a new position in shares of BlackRock Multi-Sector Income Trust in the 2nd quarter worth approximately $29,000. CoreCap Advisors LLC increased its position in shares of BlackRock Multi-Sector Income Trust by 76.9% during the 2nd quarter. CoreCap Advisors LLC now owns 6,900 shares of the investment management company’s stock valued at $86,000 after purchasing an additional 3,000 shares during the last quarter. Western Wealth Management LLC purchased a new stake in BlackRock Multi-Sector Income Trust during the 1st quarter valued at $110,000. Northwestern Mutual Wealth Management Co. purchased a new stake in BlackRock Multi-Sector Income Trust during the 2nd quarter valued at $125,000. Finally, Fifth Third Bancorp raised its holdings in BlackRock Multi-Sector Income Trust by 583.1% during the 1st quarter. Fifth Third Bancorp now owns 10,349 shares of the investment management company’s stock valued at $130,000 after buying an additional 8,834 shares during the period.

BlackRock Multi-Sector Income Trust Stock Down 0.4%

Shares of BIT traded down $0.04 during mid-day trading on Monday, hitting $11.22. 201,425 shares of the stock were exchanged, compared to its average volume of 317,514. BlackRock Multi-Sector Income Trust has a 52-week low of $11.03 and a 52-week high of $13.44. The firm has a 50-day moving average of $11.77 and a two-hundred day moving average of $12.25.

BlackRock Multi-Sector Income Trust Announces Dividend

The firm 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 $0.1237 dividend. This represents a $1.48 annualized dividend and a yield of 13.2%. The ex-dividend date is Friday, December 11th.

About BlackRock Multi-Sector Income Trust

BlackRock Multi-Sector Income Trust (NYSE:BIT) is a closed-end management investment company advised by BlackRock Advisors, LLC. The Trust seeks to provide a high level of current income, with capital appreciation as a secondary objective.

The Trust invests in a diversified, actively managed portfolio of fixed-income securities and other income-producing assets. Its investments may include corporate bonds, government and agency securities, mortgage-backed and asset-backed securities, bank loans, emerging-market debt, and other credit-related instruments.