BlackRock Multi-Sector Income Trust (NYSE:BIT) Stock Price Crosses Below 50 Day Moving Average – Should You Sell?

BlackRock Multi-Sector Income Trust (NYSE:BIT)’s stock price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $11.38 and traded as low as $11.30. BlackRock Multi-Sector Income Trust shares last traded at $11.3450, with a volume of 312,113 shares changing hands.

BlackRock Multi-Sector Income Trust Trading Down 0.9%

The stock has a 50-day moving average of $11.38 and a 200 day moving average of $12.29.

BlackRock Multi-Sector Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be given a $0.1237 dividend. This represents a $1.48 annualized dividend and a yield of 13.1%. The ex-dividend date is Friday, December 11th.

Institutional Investors Weigh In On BlackRock Multi-Sector Income Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its position in BlackRock Multi-Sector Income Trust by 38.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,519,032 shares of the investment management company’s stock valued at $17,074,000 after purchasing an additional 424,372 shares during the period. Cyndeo Wealth Partners LLC lifted its stake in BlackRock Multi-Sector Income Trust by 8.5% in the third quarter. Cyndeo Wealth Partners LLC now owns 992,981 shares of the investment management company’s stock valued at $11,161,000 after buying an additional 77,850 shares in the last quarter. Cetera Investment Advisers boosted its stake in BlackRock Multi-Sector Income Trust by 8.9% in the 1st quarter. Cetera Investment Advisers now owns 171,663 shares of the investment management company’s stock worth $2,149,000 after purchasing an additional 14,006 shares during the period. Rareview Capital LLC grew its holdings in shares of BlackRock Multi-Sector Income Trust by 9.7% during the second quarter. Rareview Capital LLC now owns 162,069 shares of the investment management company’s stock worth $2,029,000 after buying an additional 14,306 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in shares of BlackRock Multi-Sector Income Trust during the 2nd quarter worth approximately $1,527,000.

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.