Short Interest in BlackRock Multi-Sector Income Trust (NYSE:BIT) Drops By 21.3%

BlackRock Multi-Sector Income Trust (NYSE:BIT) was the target of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 90,000 shares, a drop of 21.3% from the February 13th total of 114,400 shares. Based on an average trading volume of 185,000 shares, the days-to-cover ratio is currently 0.5 days.

BlackRock Multi-Sector Income Trust Price Performance

BlackRock Multi-Sector Income Trust stock traded up $0.01 during midday trading on Tuesday, hitting $14.44. 183,502 shares of the stock were exchanged, compared to its average volume of 139,981. The stock’s 50-day simple moving average is $14.69 and its 200 day simple moving average is $14.76. BlackRock Multi-Sector Income Trust has a fifty-two week low of $14.22 and a fifty-two week high of $15.98.

BlackRock Multi-Sector Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.1237 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.48 annualized dividend and a yield of 10.28%.

Institutional Trading of BlackRock Multi-Sector Income Trust

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC grew its holdings in shares of BlackRock Multi-Sector Income Trust by 11.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 68,814 shares of the investment management company’s stock valued at $1,005,000 after purchasing an additional 7,186 shares in the last quarter. HighTower Advisors LLC acquired a new position in BlackRock Multi-Sector Income Trust in the third quarter valued at $241,000. Janney Montgomery Scott LLC grew its stake in BlackRock Multi-Sector Income Trust by 1.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 58,673 shares of the investment management company’s stock worth $857,000 after buying an additional 995 shares during the last quarter. Atria Wealth Solutions Inc. grew its position in shares of BlackRock Multi-Sector Income Trust by 6.2% during the fourth quarter. Atria Wealth Solutions Inc. now owns 100,338 shares of the investment management company’s stock worth $1,465,000 after acquiring an additional 5,825 shares during the last quarter. Finally, Landscape Capital Management L.L.C. raised its holdings in shares of BlackRock Multi-Sector Income Trust by 91.5% in the third quarter. Landscape Capital Management L.L.C. now owns 113,928 shares of the investment management company’s stock valued at $1,732,000 after buying an additional 54,436 shares during the last quarter.

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.