Blackrock Income Trust (NYSE:BKT) Sees Large Growth in Short Interest

Key Points

• Short interest surged 149.2% in August to 131,936 shares, representing about 0.4% of outstanding shares and a days-to-cover ratio of 0.9.
• BlackRock Income Trust shares opened at $10.38, within a 52-week range of $10.16 to $11.86.
• The trust announced a monthly dividend of $0.0882 per share, implying a 10.2% annualized yield; institutional investors own approximately 39.43% of the stock.

Blackrock Income Trust (NYSE:BKT - Get Free Report) was the recipient of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 131,936 shares, an increase of 149.2% from the July 30th total of 52,944 shares. Approximately 0.4% of the company's shares are sold short. Based on an average daily trading volume, of 142,310 shares, the days-to-cover ratio is currently 0.9 days.

Blackrock Income Trust Price Performance

Shares of BKT stock opened at $10.38 on Friday. Blackrock Income Trust has a 52-week low of $10.16 and a 52-week high of $11.86. The stock has a 50 day moving average price of $10.46 and a 200 day moving average price of $10.63.

Blackrock Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 10.2%.

Institutional Trading of Blackrock Income Trust

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sit Investment Associates Inc. grew its holdings in shares of Blackrock Income Trust by 9.4% in the fourth quarter. Sit Investment Associates Inc. now owns 5,050,211 shares of the company's stock worth $55,754,000 after purchasing an additional 435,016 shares during the last quarter. Advocacy Wealth Management LLC bought a new position in Blackrock Income Trust in the 2nd quarter worth about $59,361,000. Guggenheim Capital LLC increased its position in shares of Blackrock Income Trust by 3.3% during the fourth quarter. Guggenheim Capital LLC now owns 1,239,012 shares of the company's stock worth $13,679,000 after acquiring an additional 39,123 shares during the period. Raymond James Financial Inc. increased its position in shares of Blackrock Income Trust by 6.7% during the second quarter. Raymond James Financial Inc. now owns 1,235,387 shares of the company's stock worth $14,516,000 after acquiring an additional 77,724 shares during the period. Finally, Rivernorth Capital Management LLC bought a new stake in shares of Blackrock Income Trust during the fourth quarter valued at approximately $9,462,000. 39.43% of the stock is currently owned by institutional investors.

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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