BlackRock Credit Allocation Income Trust (NYSE:BTZ) Stock Price Passes Below 200-Day Moving Average – What’s Next?

BlackRock Credit Allocation Income Trust (NYSE:BTZ) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.61 and traded as low as $10.18. BlackRock Credit Allocation Income Trust shares last traded at $10.2650, with a volume of 243,782 shares changing hands.

BlackRock Credit Allocation Income Trust Price Performance

The firm has a 50-day moving average of $10.23 and a 200-day moving average of $10.61.

BlackRock Credit Allocation Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.0839 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 9.8%.

Institutional Investors Weigh In On BlackRock Credit Allocation Income Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in BlackRock Credit Allocation Income Trust by 36.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 617,201 shares of the investment management company’s stock valued at $6,234,000 after buying an additional 165,959 shares during the last quarter. D.A. Davidson & CO. raised its position in BlackRock Credit Allocation Income Trust by 60.4% during the 1st quarter. D.A. Davidson & CO. now owns 382,991 shares of the investment management company’s stock worth $3,868,000 after buying an additional 144,213 shares during the last quarter. Northstar Financial Companies Inc. acquired a new stake in BlackRock Credit Allocation Income Trust during the 1st quarter valued at approximately $131,000. Fifth Third Bancorp acquired a new stake in BlackRock Credit Allocation Income Trust during the 1st quarter valued at approximately $34,000. Finally, Waterfront Wealth Inc. boosted its holdings in shares of BlackRock Credit Allocation Income Trust by 4.0% in the 1st quarter. Waterfront Wealth Inc. now owns 116,422 shares of the investment management company’s stock valued at $1,176,000 after acquiring an additional 4,510 shares during the last quarter.

About BlackRock Credit Allocation Income Trust

BlackRock Credit Allocation Income Trust (NYSE: BTZ) is a closed-end management investment company sponsored by BlackRock Fund Advisors. The trust seeks to provide investors with a high level of current income, as well as the potential for capital appreciation, through an actively managed portfolio of credit and income-producing securities. BTZ primarily focuses on instruments that offer attractive yields while aiming to preserve capital over the long term.

The portfolio is diversified across a broad spectrum of credit sectors, including investment-grade corporate debt, high-yield bonds, leveraged bank loans, residential and commercial mortgage-backed securities, and asset-backed securities.