Short Interest in Blackrock Income Trust (NYSE:BKT) Drops By 51.7%
by Michael Walen · The Markets DailyBlackrock Income Trust (NYSE:BKT – Get Free Report) was the recipient of a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 50,418 shares, a decrease of 51.7% from the January 29th total of 104,423 shares. Based on an average daily trading volume, of 121,734 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily trading volume, of 121,734 shares, the days-to-cover ratio is presently 0.4 days.
Blackrock Income Trust Trading Down 0.2%
Shares of NYSE:BKT traded down $0.03 during trading on Friday, reaching $11.14. 80,761 shares of the company traded hands, compared to its average volume of 103,577. The firm has a fifty day simple moving average of $11.09 and a 200 day simple moving average of $11.23. Blackrock Income Trust has a 1-year low of $10.85 and a 1-year high of $12.11.
Blackrock Income Trust Dividend Announcement
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a dividend of $0.0882 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 9.5%.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Rivernorth Capital Management LLC acquired a new stake in shares of Blackrock Income Trust during the 4th quarter valued at about $9,462,000. Sit Investment Associates Inc. increased its holdings in 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 buying an additional 435,016 shares during the last quarter. Nomura Holdings Inc. bought a new position in Blackrock Income Trust during the third quarter valued at approximately $2,957,000. Rock Point Advisors LLC lifted its stake in Blackrock Income Trust by 171.3% in the fourth quarter. Rock Point Advisors LLC now owns 250,023 shares of the company’s stock valued at $2,760,000 after acquiring an additional 157,850 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Blackrock Income Trust in the fourth quarter valued at approximately $1,384,000. 39.43% of the stock is owned by institutional investors and hedge funds.
About Blackrock Income Trust
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.