Rivernorth Capital Management LLC Sells 545,605 Shares of BlackRock Multi-Sector Income Trust $BIT

Rivernorth Capital Management LLC lessened its holdings in BlackRock Multi-Sector Income Trust (NYSE:BIT) by 30.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,218,113 shares of the investment management company’s stock after selling 545,605 shares during the period. BlackRock Multi-Sector Income Trust comprises 0.8% of Rivernorth Capital Management LLC’s holdings, making the stock its 28th biggest holding. Rivernorth Capital Management LLC’s holdings in BlackRock Multi-Sector Income Trust were worth $15,251,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Garton & Associates Financial Advisors LLC bought a new stake in shares of BlackRock Multi-Sector Income Trust during the 4th quarter valued at approximately $28,000. Cresta Advisors Ltd. acquired a new position in shares of BlackRock Multi-Sector Income Trust during the fourth quarter worth $91,000. Harbour Investments Inc. bought a new position in shares of BlackRock Multi-Sector Income Trust in the 4th quarter valued at $94,000. Comerica Bank boosted its holdings in shares of BlackRock Multi-Sector Income Trust by 24.0% during the 4th quarter. Comerica Bank now owns 8,619 shares of the investment management company’s stock valued at $113,000 after acquiring an additional 1,669 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in BlackRock Multi-Sector Income Trust by 583.1% during the 1st quarter. Fifth Third Bancorp now owns 10,349 shares of the investment management company’s stock worth $130,000 after acquiring an additional 8,834 shares during the last quarter.

BlackRock Multi-Sector Income Trust Trading Up 0.1%

NYSE:BIT opened at $12.18 on Wednesday. BlackRock Multi-Sector Income Trust has a one year low of $12.13 and a one year high of $15.12. The firm’s 50 day simple moving average is $12.44 and its 200 day simple moving average is $12.73.

BlackRock Multi-Sector Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.1237 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 12.2%.

BlackRock Multi-Sector Income Trust Profile

BlackRock Multi-Sector Income Trust (NYSE:BIT) is a closed-end management investment company sponsored by BlackRock, Inc The trust seeks to provide high current income and total return by investing across a broad range of income-producing sectors. It trades on the New York Stock Exchange under the ticker symbol BIT and is managed by BlackRock Advisors, LLC.

The trust’s portfolio is diversified across multiple sectors of the fixed-income market, including investment-grade corporate bonds, high-yield corporate debt, U.S.