BlackRock Multi-Sector Income Trust (NYSE:BIT) Sees Large Increase in Short Interest

BlackRock Multi-Sector Income Trust (NYSE:BIT) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 171,252 shares, a growth of 89.9% from the September 30th total of 90,158 shares. Based on an average trading volume of 471,698 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of BlackRock Multi-Sector Income Trust during the 1st quarter valued at about $4,664,000. Bank of America Corp DE acquired a new stake in BlackRock Multi-Sector Income Trust during the second quarter worth about $1,527,000. Cyndeo Wealth Partners LLC increased its position in BlackRock Multi-Sector Income Trust by 8.5% during the third quarter. Cyndeo Wealth Partners LLC now owns 992,981 shares of the investment management company’s stock worth $11,161,000 after purchasing an additional 77,850 shares during the last quarter. Rareview Capital LLC increased its holdings in shares of BlackRock Multi-Sector Income Trust by 20.8% during the 1st quarter. Rareview Capital LLC now owns 147,763 shares of the investment management company’s stock worth $1,850,000 after buying an additional 25,438 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in BlackRock Multi-Sector Income Trust by 16.8% in the first quarter. Janney Montgomery Scott LLC now owns 139,618 shares of the investment management company’s stock valued at $1,748,000 after acquiring an additional 20,112 shares during the last quarter.

BlackRock Multi-Sector Income Trust Trading Down 0.8%

BIT stock opened at $11.28 on Friday. The business’s 50-day moving average is $11.46 and its 200 day moving average is $12.36. BlackRock Multi-Sector Income Trust has a 12-month low of $11.03 and a 12-month high of $13.44.

BlackRock Multi-Sector Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be issued a $0.1237 dividend. This represents a $1.48 annualized dividend and a dividend yield of 13.2%. The ex-dividend date of this dividend is Friday, December 11th.

About BlackRock Multi-Sector Income Trust

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.