Blackrock Income Trust (NYSE:BKT) Stock Price Crosses Below Fifty Day Moving Average - Time to Sell?

Key Points

• BlackRock Income Trust shares fell below their 50-day moving average, trading as low as $10.21 versus a 50-day average of $10.48; the 200-day average stands at $10.73.
• The trust announced a monthly dividend of $0.0882 per share, implying a roughly 10.3% annualized yield. Shareholders of record on September 15 are scheduled to receive payment on September 30.
• Institutional ownership stands at 39.43%, with several major investors increasing their positions during the first quarter, including First Trust Advisors, which raised its holdings by 231.6%.

Shares of Blackrock Income Trust (NYSE:BKT - Get Free Report) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $10.48 and traded as low as $10.21. Blackrock Income Trust shares last traded at $10.2350, with a volume of 170,047 shares traded.

Blackrock Income Trust Stock Performance

The stock has a 50-day simple moving average of $10.48 and a 200 day simple moving average of $10.73.

Blackrock Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.0882 dividend. This represents a c) annualized dividend and a dividend yield of 10.3%. The ex-dividend date is Tuesday, September 15th.

Institutional Investors Weigh In On Blackrock Income Trust

A number of large investors have recently bought and sold shares of the company. First Nebraska Trust Co acquired a new position in Blackrock Income Trust in the 1st quarter worth approximately $172,000. Arkadios Wealth Advisors lifted its stake in Blackrock Income Trust by 4.4% during the 1st quarter. Arkadios Wealth Advisors now owns 43,420 shares of the company's stock valued at $459,000 after acquiring an additional 1,830 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Blackrock Income Trust by 30.4% in the 1st quarter. Cetera Investment Advisers now owns 132,363 shares of the company's stock valued at $1,399,000 after acquiring an additional 30,891 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Blackrock Income Trust by 231.6% in the 1st quarter. First Trust Advisors LP now owns 181,020 shares of the company's stock valued at $1,913,000 after acquiring an additional 126,426 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Blackrock Income Trust by 17.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 147,457 shares of the company's stock worth $1,559,000 after acquiring an additional 22,123 shares during the period. Hedge funds and other institutional investors own 39.43% of the company's stock.

Blackrock Income Trust Company Profile

BlackRock Income Trust NYSE: BKT is a diversified, closed-end management investment company sponsored by BlackRock, Inc The fund seeks to provide current income through investments in a broad array of fixed-income securities. Its holdings typically include high-yield corporate bonds, investment-grade corporate debt, government and agency obligations and securitized products such as mortgage- and asset-backed securities.

The trust employs active portfolio management, aiming to capitalize on credit opportunities across global and domestic markets.

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