Rivernorth Capital Management LLC Decreases Stock Position in Blackrock Income Trust $BKT

Key Points

• Rivernorth Capital Management cut its BlackRock Income Trust stake by 82% in the first quarter, selling 702,554 shares and retaining 154,493 shares valued at approximately $1.63 million.
• Other institutional investors increased their positions, including Sit Investment Associates, Rock Point Advisors, and First Trust Advisors; institutional investors collectively own 39.43% of BKT.
• BKT opened at $10.23, near its 12-month low, while the fund announced a monthly dividend of $0.0882 per share, representing an annualized yield of about 10.3%.

Rivernorth Capital Management LLC lessened its holdings in Blackrock Income Trust (NYSE:BKT - Free Report) by 82.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 154,493 shares of the company's stock after selling 702,554 shares during the quarter. Rivernorth Capital Management LLC owned 0.48% of Blackrock Income Trust worth $1,633,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Sit Investment Associates Inc. increased its holdings in shares of Blackrock Income Trust by 9.4% during the fourth quarter. Sit Investment Associates Inc. now owns 5,050,211 shares of the company's stock valued at $55,754,000 after acquiring an additional 435,016 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in Blackrock Income Trust in the 3rd quarter worth approximately $2,957,000. Rock Point Advisors LLC grew its position in Blackrock Income Trust by 171.3% during the 4th quarter. Rock Point Advisors LLC now owns 250,023 shares of the company's stock worth $2,760,000 after purchasing an additional 157,850 shares during the last quarter. First Trust Advisors LP grew its position in Blackrock Income Trust by 231.6% during the 1st quarter. First Trust Advisors LP now owns 181,020 shares of the company's stock worth $1,913,000 after purchasing an additional 126,426 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in Blackrock Income Trust during the 4th quarter valued at approximately $1,384,000. Hedge funds and other institutional investors own 39.43% of the company's stock.

Blackrock Income Trust Stock Down 0.1%

NYSE BKT opened at $10.23 on Thursday. The company has a fifty day simple moving average of $10.48 and a two-hundred day simple moving average of $10.73. Blackrock Income Trust has a 12-month low of $10.17 and a 12-month high of $11.86.

Blackrock Income Trust Dividend Announcement

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

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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