BlackRock Multi-Sector Income Trust Plans Monthly Dividend of $0.12 (NYSE:BIT)

BlackRock Multi-Sector Income Trust (NYSE:BIT) announced a monthly dividend on Friday, February 27th. Stockholders of record on Wednesday, April 15th will be given a dividend of 0.1237 per share by the investment management company on Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 11.6%. The ex-dividend date is Wednesday, April 15th.

BlackRock Multi-Sector Income Trust Stock Performance

BIT stock opened at $12.76 on Monday. The firm has a 50 day simple moving average of $12.86 and a 200 day simple moving average of $13.09. BlackRock Multi-Sector Income Trust has a 52 week low of $12.21 and a 52 week high of $15.12.

Hedge Funds Weigh In On BlackRock Multi-Sector Income Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Rivernorth Capital Management LLC raised its holdings in shares of BlackRock Multi-Sector Income Trust by 0.9% during the fourth quarter. Rivernorth Capital Management LLC now owns 1,763,718 shares of the investment management company’s stock worth $23,034,000 after acquiring an additional 15,322 shares in the last quarter. Cyndeo Wealth Partners LLC grew its stake in BlackRock Multi-Sector Income Trust by 1.8% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 837,581 shares of the investment management company’s stock valued at $10,939,000 after purchasing an additional 15,201 shares in the last quarter. Royal Bank of Canada grew its stake in BlackRock Multi-Sector Income Trust by 76.7% in the fourth quarter. Royal Bank of Canada now owns 681,655 shares of the investment management company’s stock valued at $8,903,000 after purchasing an additional 295,974 shares in the last quarter. Invesco Ltd. increased its position in BlackRock Multi-Sector Income Trust by 53.8% in the 4th quarter. Invesco Ltd. now owns 673,510 shares of the investment management company’s stock worth $8,796,000 after purchasing an additional 235,625 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of BlackRock Multi-Sector Income Trust by 17.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 512,573 shares of the investment management company’s stock worth $6,829,000 after purchasing an additional 76,610 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 by BlackRock, Inc The trust seeks to provide high current income and total return by investing across a broad range of income-producing sectors. It trades on the New York Stock Exchange under the ticker symbol BIT and is managed by BlackRock Advisors, LLC.

The trust’s portfolio is diversified across multiple sectors of the fixed-income market, including investment-grade corporate bonds, high-yield corporate debt, U.S.