What’s Next for BlackRock Municipal Income Trust (BFK) After Forming Bearish Double Bottom Pattern?

Investors sentiment decreased to 1.56 in Q2 2018. Its down 1.08, from 2.64 in 2018Q1. It is negative, as 6 investors sold BlackRock Municipal Income Trust shares while 10 reduced holdings. 7 funds opened positions while 18 raised stakes. 3.68 million shares or 12.92% more from 3.26 million shares in 2018Q1 were reported.
M&R Capital invested in 0% or 990 shares. Ironwood Ltd Llc accumulated 3,000 shares or 0.02% of the stock. National Bank Of Montreal Can reported 107,000 shares or 0% of all its holdings. Nuveen Asset Management Lc has invested 0% in BlackRock Municipal Income Trust (NYSE:BFK). Pnc Services Gp Inc Inc reported 0% of its portfolio in BlackRock Municipal Income Trust (NYSE:BFK). First Tru Advsrs L P has invested 0% in BlackRock Municipal Income Trust (NYSE:BFK). Park Avenue Securities holds 17,638 shares or 0.04% of its portfolio. Moreover, Rockland Tru has 0.02% invested in BlackRock Municipal Income Trust (NYSE:BFK). Fort Washington Investment Advsrs Oh reported 43,334 shares. Raymond James Advisors reported 0% of its portfolio in BlackRock Municipal Income Trust (NYSE:BFK). Sandy Spring Bank & Trust invested in 0.01% or 13,100 shares. New York-based Van Eck Associate Corporation has invested 0.01% in BlackRock Municipal Income Trust (NYSE:BFK). Robinson Management Limited Liability Com stated it has 1.89% in BlackRock Municipal Income Trust (NYSE:BFK). Morgan Stanley stated it has 187,606 shares. Moreover, Northwestern Mutual Wealth Mngmt has 0% invested in BlackRock Municipal Income Trust (NYSE:BFK).

The chart of BlackRock Municipal Income Trust (BFK) shows a double bottom with $11.32 target or 9.00 % below today’s $12.44 share price. The 7 months chart pattern indicates high risk for the $557.70 million company. It was reported on Dec, 2 by Finviz.com. If the $11.32 price target is reached, the company will be worth $50.19M less. Double bottoms are rare but powerful chart patterns.

It closed at $12.44 lastly. It is up 11.20% since December 2, 2017 and is downtrending. It has underperformed by 26.82% the S&P500.

More notable recent BlackRock Municipal Income Trust (NYSE:BFK) news were published by: Seekingalpha.com which released: “Weekly CEF Roundup: A Rights, A Tender, A Merger – Seeking Alpha” on April 03, 2018, also Seekingalpha.com with their article: “Is The Muni Bond Market Positioned For Its Moment In The Sun? – Seeking Alpha” published on June 12, 2018, 247Wallst.com published: “Why Municipal Bond Funds Are Still Solid for High Tax Bracket Investors – 24/7 Wall St.” on May 13, 2015. More interesting news about BlackRock Municipal Income Trust (NYSE:BFK) were released by: Seekingalpha.com and their article: “Term CEF Ladder #7: National Municipal Bond Funds – Seeking Alpha” published on June 16, 2018 as well as Seekingalpha.com‘s news article titled: “Municipal Bonds: A Market In Motion – Seeking Alpha” with publication date: November 13, 2017.

BlackRock Municipal Income Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc. The company has market cap of $557.70 million. It is managed by BlackRock Advisors, LLC. It has a 24.54 P/E ratio. The fund invests in fixed income markets.

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