Short Interest in BlackRock Multi-Sector Income Trust (NYSE:BIT) Grows By 189.5%

BlackRock Multi-Sector Income Trust (NYSE:BIT) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 79,600 shares, a growth of 189.5% from the October 15th total of 27,500 shares. Based on an average daily trading volume, of 131,600 shares, the days-to-cover ratio is presently 0.6 days.

BlackRock Multi-Sector Income Trust Trading Down 0.1 %

Shares of NYSE:BIT opened at $14.79 on Friday. BlackRock Multi-Sector Income Trust has a 52-week low of $14.39 and a 52-week high of $15.98. The company has a fifty day moving average of $14.95 and a 200-day moving average of $14.88.

BlackRock Multi-Sector Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.1237 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.48 annualized dividend and a yield of 10.04%.

Institutional Trading of BlackRock Multi-Sector Income Trust

A number of hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its holdings in shares of BlackRock Multi-Sector Income Trust by 2.1% during the first quarter. Janney Montgomery Scott LLC now owns 54,153 shares of the investment management company’s stock worth $860,000 after purchasing an additional 1,120 shares during the period. NewEdge Advisors LLC grew its position in shares of BlackRock Multi-Sector Income Trust by 4.5% in the 2nd quarter. NewEdge Advisors LLC now owns 72,704 shares of the investment management company’s stock valued at $1,060,000 after buying an additional 3,140 shares during the last quarter. Atria Wealth Solutions Inc. grew its position in shares of BlackRock Multi-Sector Income Trust by 11.4% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 78,203 shares of the investment management company’s stock valued at $1,140,000 after buying an additional 8,011 shares during the last quarter. Private Advisor Group LLC raised its position in shares of BlackRock Multi-Sector Income Trust by 11.5% during the second quarter. Private Advisor Group LLC now owns 90,760 shares of the investment management company’s stock worth $1,323,000 after acquiring an additional 9,341 shares during the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new position in shares of BlackRock Multi-Sector Income Trust in the first quarter worth approximately $164,000.

Analyst Upgrades and Downgrades

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

BlackRock Multi-Sector Income Trust Company Profile

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.