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

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

BlackRock Multi-Sector Income Trust Stock Down 0.0%

BlackRock Multi-Sector Income Trust stock traded down $0.01 during mid-day trading on Monday, reaching $11.30. The company’s stock had a trading volume of 321,162 shares, compared to its average volume of 320,405. The firm’s fifty day moving average price is $11.46 and its two-hundred day moving average price 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. Stockholders of record on Friday, December 11th will be issued a $0.1237 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 13.1%. The ex-dividend date of this dividend is Friday, December 11th.

Hedge Funds Weigh In On BlackRock Multi-Sector Income Trust

Several hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new stake in BlackRock Multi-Sector Income Trust during the 2nd quarter worth about $29,000. CoreCap Advisors LLC boosted its stake in BlackRock Multi-Sector Income Trust by 76.9% in the 2nd quarter. CoreCap Advisors LLC now owns 6,900 shares of the investment management company’s stock worth $86,000 after purchasing an additional 3,000 shares during the period. Western Wealth Management LLC bought a new position in BlackRock Multi-Sector Income Trust in the 1st quarter worth about $110,000. Northwestern Mutual Wealth Management Co. purchased a new position in BlackRock Multi-Sector Income Trust during the 2nd quarter valued at about $125,000. Finally, Fifth Third Bancorp grew its holdings 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 valued at $130,000 after buying an additional 8,834 shares in the last quarter.

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.