BlackRock Multi-Sector Income Trust (NYSE:BIT) Rating Increased to Hold at Royal Bank of Canada

by · The Markets Daily

Royal Bank of Canada upgraded shares of BlackRock Multi-Sector Income Trust (NYSE:BIT – Free Report) to a hold rating in a research note published on Thursday, Zacks.com reports.

BlackRock Multi-Sector Income Trust Stock Performance

Shares of BIT stock opened at $14.70 on Thursday. BlackRock Multi-Sector Income Trust has a twelve month low of $13.65 and a twelve month high of $15.98. The business has a fifty day simple moving average of $14.71 and a 200 day simple moving average of $15.17.

BlackRock Multi-Sector Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be given a dividend of $0.1237 per share. This represents a $1.48 annualized dividend and a dividend yield of 10.10%. The ex-dividend date is Monday, July 15th.

Hedge Funds Weigh In On BlackRock Multi-Sector Income Trust

Institutional investors have recently bought and sold shares of the company. Mesirow Financial Investment Management Inc. bought a new stake in BlackRock Multi-Sector Income Trust during the first quarter valued at approximately $2,563,000. Steward Partners Investment Advisory LLC increased its stake 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 worth $777,000 after purchasing an additional 42,317 shares during the period. Foundations Investment Advisors LLC boosted its stake in shares of BlackRock Multi-Sector Income Trust by 12.3% during the fourth quarter. Foundations Investment Advisors LLC now owns 219,801 shares of the investment management company’s stock valued at $3,418,000 after purchasing an additional 24,010 shares during the period. Atria Wealth Solutions Inc. increased its stake in shares of BlackRock Multi-Sector Income Trust by 75.2% in the fourth quarter. Atria Wealth Solutions Inc. now owns 49,007 shares of the investment management company’s stock worth $735,000 after buying an additional 21,027 shares during the period. Finally, Virtu Financial LLC purchased a new stake in BlackRock Multi-Sector Income Trust during the 4th quarter valued at $176,000.

BlackRock Multi-Sector Income Trust Company Profile

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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.

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