Blackrock Income Trust (NYSE:BKT) Shares Down 1.6% – Time to Sell?

Blackrock Income Trust (NYSE:BKT)’s stock price was down 1.6% during trading on Tuesday. The company 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 firm has a 50-day moving average price of $9.78 and a 200 day moving average price of $10.44.

Blackrock Income Trust Dividend Announcement

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

Hedge Funds Weigh In On Blackrock Income Trust

Hedge funds have recently added to or reduced their stakes in the business. Legacy Wealth Managment LLC ID bought a new stake in Blackrock Income Trust during the second quarter valued at $3,662,000. Advocacy Wealth Management LLC acquired a new stake in shares of Blackrock Income Trust during the second quarter worth $59,361,000. Endeavor Private Wealth Inc. bought a new position in shares of Blackrock Income Trust in the 2nd quarter worth about $2,751,000. First Trust Advisors LP lifted its position in shares of Blackrock Income Trust by 231.6% in the 1st 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 during the last quarter. Finally, Advisory Solutions Group LLC acquired a new position in shares of Blackrock Income Trust in the 2nd quarter valued at about $6,549,000. Institutional investors and hedge funds own 39.43% of the company’s stock.

Blackrock Income Trust Company Profile

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.