Karpus Management buys $71.4 Million stake in BlackRock Income Trust (BKT)

BlackRock Income Trust (BKT) : Karpus Management scooped up 1,611,514 additional shares in BlackRock Income Trust during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 10,955,658 shares of BlackRock Income Trust which is valued at $71.4 Million.BlackRock Income Trust makes up approximately 3.23% of Karpus Management’s portfolio.

Other Hedge Funds, Including , Global Endowment Management Lp sold out all of its stake in BKT during the most recent quarter. The investment firm sold 41,321 shares of BKT which is valued $269,413. Raymond James Associates added BKT to its portfolio by purchasing 12,967 company shares during the most recent quarter which is valued at $84,545.Cambridge Investment Research Advisors boosted its stake in BKT in the latest quarter, The investment management firm added 29,061 additional shares and now holds a total of 50,633 shares of BlackRock Income Trust which is valued at $331,646. BlackRock Income Trust makes up approx 0.01% of Cambridge Investment Research Advisors’s portfolio.

BlackRock Income Trust opened for trading at $6.46 and hit $6.5 on the upside on Wednesday, eventually ending the session at $6.49, with a gain of 0.78% or 0.05 points. The heightened volatility saw the trading volume jump to 1,14,590 shares. Company has a market cap of $410 M.

BlackRock Income Trust Inc. (the Trust) is a diversified closed-end management investment company. The Trust’s investment objective is to manage a portfolio of securities to achieve both preservation of capital and high monthly income. The Trust seeks to invest over 65% of its assets in mortgage-backed securities. The Trust’s portfolio composition includes the United States Government sponsored agency securities the United States treasury obligations non-agency mortgage-backed securities short-term securities asset-backed securities and borrowed bonds. The Trust invests in non-government spread sectors including investment grade credit high yield credit commercial mortgage-backed securities (CMBS) and non-agency residential mortgage-backed securities (MBS). The Trust also holds exposure to government-related sectors including the United States Treasury securities agency debt and agency MBS. BlackRock Advisors LLC is the Trust’s manager and investment advisor.

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