Blackrock Income Trust (NYSE:BKT) Stock Crosses Below 50-Day Moving Average – Here’s Why

Blackrock Income Trust (NYSE:BKT) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $10.48 and traded as low as $10.21. Blackrock Income Trust shares last traded at $10.2350, with a volume of 170,047 shares.

Blackrock Income Trust Price Performance

The stock’s 50 day moving average price is $10.48 and its 200-day moving average price is $10.72.

Blackrock Income Trust Announces Dividend

The company 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 of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 10.4%.

Institutional Investors Weigh In On Blackrock Income Trust

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new position in shares of Blackrock Income Trust in the fourth quarter valued at about $1,384,000. Rock Point Advisors LLC grew its position in shares of Blackrock Income Trust by 171.3% during the fourth quarter. Rock Point Advisors LLC now owns 250,023 shares of the company’s stock worth $2,760,000 after purchasing an additional 157,850 shares in the last quarter. Sit Investment Associates Inc. grew its position in shares of Blackrock Income Trust by 9.4% during the fourth quarter. Sit Investment Associates Inc. now owns 5,050,211 shares of the company’s stock worth $55,754,000 after purchasing an additional 435,016 shares in the last quarter. Rareview Capital LLC raised its stake in Blackrock Income Trust by 394.6% during the 4th quarter. Rareview Capital LLC now owns 132,356 shares of the company’s stock valued at $1,555,000 after purchasing an additional 105,594 shares during the period. Finally, Ramiah Investment Group bought a new stake in Blackrock Income Trust during the 4th quarter valued at approximately $457,000. Hedge funds and other institutional investors own 39.43% of the company’s stock.

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.