Could BlackRock Municipal Income Trust (BFK) Gain Strenght After Forming Bearish Double Bottom Pattern?

Investors sentiment decreased to 1.56 in 2018 Q2. Its down 1.08, from 2.64 in 2018Q1. It worsened, 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.
Oppenheimer And Com Inc stated it has 20,102 shares or 0.01% of all its holdings. Fifth Third National Bank invested 0% of its portfolio in BlackRock Municipal Income Trust (NYSE:BFK). Pittenger And Anderson Inc holds 2,000 shares or 0% of its portfolio. Cohen And Steers invested 0% in BlackRock Municipal Income Trust (NYSE:BFK). Moreover, Landscape Cap Management Ltd Com has 0.03% invested in BlackRock Municipal Income Trust (NYSE:BFK). Wells Fargo Mn invested in 106,820 shares. Robinson Cap Management Limited Liability Co reported 506,040 shares. Nuveen Asset Management Lc invested in 0% or 28,345 shares. Invesco Limited owns 127,695 shares. Citigroup has invested 0% in BlackRock Municipal Income Trust (NYSE:BFK). Fort Washington Invest Inc Oh owns 0.01% invested in BlackRock Municipal Income Trust (NYSE:BFK) for 43,334 shares. 83,890 were reported by Cap Invest Advsr Ltd Liability Corporation. Regions Financial Corp reported 2,300 shares. Northwestern Mutual Wealth holds 0% in BlackRock Municipal Income Trust (NYSE:BFK) or 1,068 shares. Clearbridge Invs Ltd Liability has invested 0% in BlackRock Municipal Income Trust (NYSE:BFK).

The chart of BlackRock Municipal Income Trust (BFK) shows a double bottom with $12.37 target or 3.00 % below today’s $12.75 share price. The 6 months chart pattern indicates high risk for the $571.60M company. It was reported on Dec, 7 by Finviz.com. If the $12.37 price target is reached, the company will be worth $17.15M less. Double bottoms are rare but powerful chart patterns.

The stock increased 0.71% or $0.09 during the last trading session, reaching $12.75. About 210,804 shares traded or 71.94% up from the average. BlackRock Municipal Income Trust (NYSE:BFK) has declined 11.20% since December 7, 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: CEFs Rebound, DSU Tender Offer – Seeking Alpha” on March 23, 2018, also Businesswire.com with their article: “Distribution Dates and Amounts Announced for Certain BlackRock Closed-End Funds – Business Wire” published on July 02, 2018, Seekingalpha.com published: “As Defaults Mount And Loom, It May Be Time To Dust Off Meredith Whitney’s Analysis – Seeking Alpha” on June 12, 2017. More interesting news about BlackRock Municipal Income Trust (NYSE:BFK) were released by: Seekingalpha.com and their article: “The Liquidity Premium – Seeking Alpha” published on August 02, 2017 as well as Seekingalpha.com‘s news article titled: “Weekly CEF Roundup: CEFs Tank With Market – Seeking Alpha” with publication date: April 09, 2018.

BlackRock Municipal Income Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc. The company has market cap of $571.60 million. It is managed by BlackRock Advisors, LLC. It has a 25.15 P/E ratio. The fund invests in fixed income markets.

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