Advocacy Wealth Management LLC Acquires New Stake in Blackrock Income Trust $BKT

Key Points

• Advocacy Wealth Management acquired 2.12 million shares of BlackRock Income Trust in the second quarter, valued at approximately $59.4 million. The position represents 0.9% of its portfolio and 6.53% of BKT’s outstanding shares.
• Other institutional investors also increased or initiated positions, bringing total institutional and hedge-fund ownership of BKT to 39.43%.
• BKT shares opened at $10.35, near their 52-week low, while the trust announced a monthly dividend of $0.0882 per share, representing an annualized yield of approximately 10.2%.

Advocacy Wealth Management LLC bought a new position in Blackrock Income Trust (NYSE:BKT - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,116,253 shares of the company's stock, valued at approximately $59,361,000. Blackrock Income Trust comprises approximately 0.9% of Advocacy Wealth Management LLC's portfolio, making the stock its 13th biggest holding. Advocacy Wealth Management LLC owned 6.53% of Blackrock Income Trust at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BKT. J.Safra Asset Management Corp bought a new stake in shares of Blackrock Income Trust during the 2nd quarter valued at about $951,000. Arkadios Wealth Advisors boosted its holdings in shares of Blackrock Income Trust by 4.4% in the 1st quarter. Arkadios Wealth Advisors now owns 43,420 shares of the company's stock worth $459,000 after purchasing an additional 1,830 shares in the last quarter. Paladin Partners LLC purchased a new stake in Blackrock Income Trust in the second quarter worth approximately $1,899,000. Comerica Bank raised its stake in shares of Blackrock Income Trust by 43.0% during the third quarter. Comerica Bank now owns 10,533 shares of the company's stock worth $118,000 after acquiring an additional 3,166 shares in the last quarter. Finally, Riverbridge Partners LLC raised its stake in shares of Blackrock Income Trust by 3.8% during the first quarter. Riverbridge Partners LLC now owns 108,500 shares of the company's stock worth $1,147,000 after acquiring an additional 3,938 shares in the last quarter. Hedge funds and other institutional investors own 39.43% of the company's stock.

Blackrock Income Trust Stock Down 0.3%

Shares of Blackrock Income Trust stock opened at $10.35 on Monday. Blackrock Income Trust has a 52-week low of $10.16 and a 52-week high of $11.86. The company has a fifty day moving average of $10.46 and a 200-day moving average of $10.62.

Blackrock Income Trust Dividend Announcement

The business 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 dividend of $0.0882 per share. This represents a c) dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date of this dividend is Tuesday, September 15th.

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.

Want to see what other hedge funds are holding BKT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Blackrock Income Trust (NYSE:BKT - Free Report).

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