May 12, 2002. Today we bought BIT, which was discussed last week. Copied below is the post.
Go to the Factsheet link below for details. Note BIT is a leveraged closed end fund and therefore represents heightened risk. Also note that the next ex-div date is May 14.
Multi-Sector Income Trust (BIT) Paying over 11%
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.