BIT Stock Summary and Trading Ideas (Blackrock Multi Sector Income | NYSE:BIT)

BlackRock Multi-Sector Income Trust’s (BIT) (the “Trust”) primary investment objective is to seek high current income, with a secondary objective of capital appreciation. The Trust seeks to achieve its investment objectives by investing, under normal market conditions, at least 80% of its assets in loan and debt instruments and other investments with similar economic characteristics. The Trust may invest directly in such securities or synthetically through the use of derivatives.

Blackrock Multi Sector Income trades on the NYSE stock market under the symbol BIT.

As of April 18, 2024, BIT stock price declined to $15.15 with 40,581 million shares trading.

BIT has a beta of 0.65, meaning it tends to be less sensitive to market movements. BIT has a correlation of 0.36 to the broad based SPY ETF.

BIT has a market cap of $572.98 million. This is considered a Small Cap stock.

In the last 3 years, BIT stock traded as high as $19.21 and as low as $13.42.

BIT has underperformed the market in the last year with a return of +13.9%, while the SPY ETF gained +22.2%. In the last 3 month period, BIT fell short of the market, returning +3.3%, while SPY returned +5.2%. However, in the most recent 2 weeks BIT has outperformed the stock market by returning -1.2%, while SPY returned -2.6%.

BIT support price is $15.06 and resistance is $15.28 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BIT stock will trade within this expected range on the day.