Elevation Point Wealth Partners LLC Takes $812,000 Position in BlackRock Credit Allocation Income Trust $BTZ

Elevation Point Wealth Partners LLC bought a new position in shares of BlackRock Credit Allocation Income Trust (NYSE:BTZ) during the second quarter, HoldingsChannel reports. The firm bought 79,458 shares of the investment management company’s stock, valued at approximately $812,000.

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp acquired a new stake in shares of BlackRock Credit Allocation Income Trust during the 1st quarter worth approximately $34,000. Comerica Bank raised its stake in shares of BlackRock Credit Allocation Income Trust by 136.5% in the 3rd quarter. Comerica Bank now owns 4,063 shares of the investment management company’s stock valued at $45,000 after buying an additional 2,345 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of BlackRock Credit Allocation Income Trust during the 3rd quarter worth about $103,000. Equitable Holdings Inc. bought a new position in shares of BlackRock Credit Allocation Income Trust during the 3rd quarter worth about $113,000. Finally, Stephens Inc. AR bought a new stake in BlackRock Credit Allocation Income Trust in the first quarter valued at about $106,000.

BlackRock Credit Allocation Income Trust Stock Performance

Shares of BTZ opened at $10.09 on Tuesday. BlackRock Credit Allocation Income Trust has a 12 month low of $9.70 and a 12 month high of $11.18. The company has a 50-day moving average price of $10.15 and a two-hundred day moving average price of $10.24.

BlackRock Credit Allocation Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.0839 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 10.0%.

BlackRock Credit Allocation Income Trust Profile

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.