International Assets Investment Management LLC Takes Position in BlackRock Multi-Sector Income Trust (NYSE:BIT)

International Assets Investment Management LLC acquired a new position in shares of BlackRock Multi-Sector Income Trust (NYSE:BIT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,868 shares of the investment management company’s stock, valued at approximately $1,650,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIT. Cyndeo Wealth Partners LLC raised its position in shares of BlackRock Multi-Sector Income Trust by 21.6% during the third quarter. Cyndeo Wealth Partners LLC now owns 437,880 shares of the investment management company’s stock worth $6,656,000 after purchasing an additional 77,672 shares during the period. Envestnet Asset Management Inc. lifted its stake in BlackRock Multi-Sector Income Trust by 45.0% in the second quarter. Envestnet Asset Management Inc. now owns 205,703 shares of the investment management company’s stock valued at $2,999,000 after buying an additional 63,811 shares in the last quarter. Raymond James & Associates boosted its holdings in shares of BlackRock Multi-Sector Income Trust by 14.2% in the third quarter. Raymond James & Associates now owns 196,029 shares of the investment management company’s stock valued at $2,980,000 after buying an additional 24,447 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of BlackRock Multi-Sector Income Trust by 10.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 120,937 shares of the investment management company’s stock worth $1,763,000 after acquiring an additional 11,605 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings 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 period.

BlackRock Multi-Sector Income Trust Stock Up 0.1 %

BIT stock opened at $14.83 on Monday. The business has a 50-day moving average of $14.97 and a 200-day moving average of $14.90. BlackRock Multi-Sector Income Trust has a fifty-two week low of $14.39 and a fifty-two week high of $15.98.

BlackRock Multi-Sector Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a dividend of $0.1237 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.48 annualized dividend and a dividend yield of 10.01%.

Analysts Set New Price Targets

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 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.