BIT - BIT: On The Lookout For A Cheaper PIMCO Alternative

April, 05 2021 06:21 AM BlackRock Multi-Sector Income Trust of Beneficial Interest

BIT is a multi-sector fixed-income CEF with a similar allocation profile to taxable PIMCO CEFs.
On the plus side, BIT has delivered a very strong 2020 NAV return, outperforming PIMCO CEFs. Its discount is also significantly wider, and it should be resilient to higher rates.
The downside is that the fund's longer-term NAV returns trail PIMCO CEFs, and its distribution coverage is on the low side.
Overall, BIT may look attractive to investors who are concerned about a market fallout from rising rates as its wider discount and negative duration should prove supportive.

For further details see:

Company Name:	BlackRock Multi-Sector Income Trust of Beneficial Interest
Stock Symbol:	BIT
Market:	NYSE