Riverbridge Partners LLC Makes New Investment in Blackrock Income Trust $BKT

Key Points

• Riverbridge Partners LLC bought a new stake of 104,562 shares in BlackRock Income Trust (NYSE: BKT) during the fourth quarter, valued at about $1,154,000.
• BlackRock Income Trust declared a monthly dividend of $0.0882 per share, payable June 30 to investors of record June 15 (ex-dividend date June 15), implying an annualized dividend yield of 10.1%.
• Several institutions — including Raymond James, Guggenheim, Invesco, Nomura and Fiera — recently increased or initiated positions, and hedge funds/institutional investors now own about 39.43% of the stock.

Riverbridge Partners LLC bought a new stake in shares of Blackrock Income Trust (NYSE:BKT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 104,562 shares of the company's stock, valued at approximately $1,154,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BKT. Raymond James Financial Inc. lifted its stake in shares of Blackrock Income Trust by 6.7% during the 2nd quarter. Raymond James Financial Inc. now owns 1,235,387 shares of the company's stock worth $14,516,000 after purchasing an additional 77,724 shares during the last quarter. Guggenheim Capital LLC boosted its position in Blackrock Income Trust by 11.9% during the second quarter. Guggenheim Capital LLC now owns 1,053,326 shares of the company's stock valued at $12,377,000 after purchasing an additional 112,201 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Blackrock Income Trust in the third quarter valued at about $2,957,000. Invesco Ltd. grew its stake in Blackrock Income Trust by 18.2% in the second quarter. Invesco Ltd. now owns 256,017 shares of the company's stock valued at $3,008,000 after purchasing an additional 39,410 shares during the last quarter. Finally, Fiera Capital Corp raised its holdings in Blackrock Income Trust by 7.8% in the third quarter. Fiera Capital Corp now owns 99,373 shares of the company's stock worth $1,117,000 after purchasing an additional 7,189 shares in the last quarter. 39.43% of the stock is currently owned by hedge funds and other institutional investors.

Blackrock Income Trust Price Performance

BKT stock opened at $10.46 on Friday. The firm has a 50-day simple moving average of $10.99 and a two-hundred day simple moving average of $11.11. Blackrock Income Trust has a one year low of $10.42 and a one year high of $12.11.

Blackrock Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.0882 per share. This represents a c) annualized dividend and a dividend yield of 10.1%. The ex-dividend date is Monday, June 15th.

Blackrock Income Trust 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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