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

BlackRock Multi-Sector Income Trust (NYSE:BIT) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 39,500 shares, a growth of 69.5% from the August 15th total of 23,300 shares. Based on an average daily volume of 119,200 shares, the days-to-cover ratio is currently 0.3 days.

BlackRock Multi-Sector Income Trust Price Performance

BlackRock Multi-Sector Income Trust stock traded up $0.10 during trading on Friday, reaching $15.10. The company had a trading volume of 101,983 shares, compared to its average volume of 104,349. The firm’s 50-day simple moving average is $14.78 and its 200 day simple moving average is $15.06. BlackRock Multi-Sector Income Trust has a 1-year low of $13.65 and a 1-year high of $15.98.

BlackRock Multi-Sector Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.1237 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.48 dividend on an annualized basis and a yield of 9.83%.

Institutional Investors Weigh In On BlackRock Multi-Sector Income Trust

Institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC lifted its holdings in BlackRock Multi-Sector Income Trust by 9.8% in the 4th quarter. Private Advisor Group LLC now owns 81,132 shares of the investment management company’s stock valued at $1,217,000 after purchasing an additional 7,260 shares in the last quarter. Principal Securities Inc. purchased a new position in BlackRock Multi-Sector Income Trust in the 4th quarter valued at $93,000. Steward Partners Investment Advisory LLC lifted its holdings in BlackRock Multi-Sector Income Trust by 447.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 51,780 shares of the investment management company’s stock valued at $777,000 after purchasing an additional 42,317 shares in the last quarter. Virtu Financial LLC purchased a new position in BlackRock Multi-Sector Income Trust in the 4th quarter valued at $176,000. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in BlackRock Multi-Sector Income Trust by 6.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 109,332 shares of the investment management company’s stock valued at $1,736,000 after purchasing an additional 6,865 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada upgraded shares of BlackRock Multi-Sector Income Trust to a “hold” rating in a report on Thursday, July 25th.

About BlackRock Multi-Sector Income Trust

BlackRock Multi-Sector Income Trust is a close ended fixed income mutual fund launched by BlackRock, Inc It is co-managed by BlackRock Advisors, LLC and BlackRock (Singapore) Limited. The fund invests in fixed income markets. It invests primarily in loan and debt instruments and other investments with similar economic characteristic.