BlackRock Multi-Sector Income Trust (NYSE:BIT) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its holdings in BlackRock Multi-Sector Income Trust (NYSE:BIT) by 4.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 171,582 shares of the investment management company’s stock after selling 7,072 shares during the period. Raymond James & Associates’ holdings in BlackRock Multi-Sector Income Trust were worth $2,502,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC acquired a new stake in BlackRock Multi-Sector Income Trust in the 1st quarter worth about $51,000. Principal Securities Inc. acquired a new stake in BlackRock Multi-Sector Income Trust in the 4th quarter worth about $93,000. Concurrent Investment Advisors LLC acquired a new stake in BlackRock Multi-Sector Income Trust in the 1st quarter worth about $164,000. Virtu Financial LLC acquired a new stake in BlackRock Multi-Sector Income Trust in the 4th quarter worth about $176,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of 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.

Analyst Ratings Changes

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

BlackRock Multi-Sector Income Trust Stock Performance

BlackRock Multi-Sector Income Trust stock opened at $15.02 on Monday. The stock’s 50-day moving average is $14.69 and its 200-day moving average is $15.07. BlackRock Multi-Sector Income Trust has a 12 month low of $13.65 and a 12 month high of $15.98.

BlackRock Multi-Sector Income Trust Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued a $0.124 dividend. This represents a $1.49 dividend on an annualized basis and a dividend yield of 9.91%. This is an increase from BlackRock Multi-Sector Income Trust’s previous monthly dividend of $0.12. The ex-dividend date of this dividend was Thursday, August 15th.

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.