Creekside Partners Buys New Stake in BlackRock Credit Allocation Income Trust (NYSE:BTZ)

Creekside Partners purchased a new position in shares of BlackRock Credit Allocation Income Trust (NYSE:BTZ) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 14,540 shares of the investment management company’s stock, valued at approximately $156,000.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in BlackRock Credit Allocation Income Trust by 3.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,948,185 shares of the investment management company’s stock valued at $42,285,000 after buying an additional 140,726 shares during the period. Wells Fargo & Company MN boosted its stake in shares of BlackRock Credit Allocation Income Trust by 4.5% during the 4th quarter. Wells Fargo & Company MN now owns 742,247 shares of the investment management company’s stock worth $7,660,000 after acquiring an additional 31,813 shares in the last quarter. Connectus Wealth LLC acquired a new stake in shares of BlackRock Credit Allocation Income Trust during the 4th quarter valued at about $851,000. Lazard Asset Management LLC purchased a new position in shares of BlackRock Credit Allocation Income Trust in the 1st quarter valued at about $128,000. Finally, Pin Oak Investment Advisors Inc. raised its holdings in BlackRock Credit Allocation Income Trust by 26.2% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 42,978 shares of the investment management company’s stock worth $444,000 after purchasing an additional 8,925 shares during the period.

BlackRock Credit Allocation Income Trust Stock Down 0.1 %

Shares of BTZ stock opened at $11.24 on Thursday. BlackRock Credit Allocation Income Trust has a 1-year low of $9.10 and a 1-year high of $11.30. The stock has a 50 day simple moving average of $10.99 and a 200-day simple moving average of $10.69.

BlackRock Credit Allocation Income Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be given a dividend of $0.0839 per share. This represents a $1.01 annualized dividend and a dividend yield of 8.96%. The ex-dividend date of this dividend is Tuesday, October 15th. This is an increase from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07.

About BlackRock Credit Allocation Income Trust

BlackRock Credit Allocation Income Trust is a closed ended balanced mutual fund launched by BlackRock, Inc The fund is co-managed by BlackRock Advisors, LLC and BlackRock (Singapore) Limited. It invests in the fixed income markets across the globe. For the fixed income portion of the portfolio, the fund primarily invests in securities with an average credit quality of BBB by Standard & Poor's Corporation.