Blackrock Income Trust (NYSE:BKT) Stock Passes Below 50-Day Moving Average – Time to Sell?

Blackrock Income Trust (NYSE:BKT) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $10.47 and traded as low as $10.40. Blackrock Income Trust shares last traded at $10.5050, with a volume of 79,924 shares trading hands.

Blackrock Income Trust Stock Performance

The business’s fifty day moving average price is $10.47 and its 200-day moving average price is $10.69.

Blackrock Income Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.0882 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 10.1%.

Institutional Investors Weigh In On Blackrock Income Trust

Hedge funds have recently added to or reduced their stakes in the stock. J.Safra Asset Management Corp purchased a new position in Blackrock Income Trust in the 2nd quarter worth approximately $951,000. Arkadios Wealth Advisors lifted its holdings in shares of Blackrock Income Trust by 4.4% in the first quarter. Arkadios Wealth Advisors now owns 43,420 shares of the company’s stock worth $459,000 after buying an additional 1,830 shares in the last quarter. Comerica Bank boosted its position in shares of Blackrock Income Trust by 43.0% during the third quarter. Comerica Bank now owns 10,533 shares of the company’s stock worth $118,000 after acquiring an additional 3,166 shares during the last quarter. Riverbridge Partners LLC grew its stake in Blackrock Income Trust by 3.8% during the first quarter. Riverbridge Partners LLC now owns 108,500 shares of the company’s stock valued at $1,147,000 after acquiring an additional 3,938 shares in the last quarter. Finally, Sankala Group LLC purchased a new stake in Blackrock Income Trust in the 4th quarter worth $46,000. 39.43% of the stock is currently owned by hedge funds and other institutional investors.

About Blackrock Income Trust

BlackRock Income Trust (NYSE: BKT) is a diversified, closed-end management investment company sponsored by BlackRock, Inc The fund seeks to provide current income through investments in a broad array of fixed-income securities. Its holdings typically include high-yield corporate bonds, investment-grade corporate debt, government and agency obligations and securitized products such as mortgage- and asset-backed securities.

The trust employs active portfolio management, aiming to capitalize on credit opportunities across global and domestic markets.