First Trust Advisors LP Buys 78,497 Shares of BlackRock Credit Allocation Income Trust $BTZ

First Trust Advisors LP grew its stake in shares of BlackRock Credit Allocation Income Trust (NYSE:BTZ) by 59.8% in the 1st quarter, HoldingsChannel reports. The fund owned 209,683 shares of the investment management company’s stock after purchasing an additional 78,497 shares during the quarter. First Trust Advisors LP’s holdings in BlackRock Credit Allocation Income Trust were worth $2,118,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in BTZ. Sit Investment Associates Inc. lifted its holdings in BlackRock Credit Allocation Income Trust by 8.3% during the 4th quarter. Sit Investment Associates Inc. now owns 6,430,309 shares of the investment management company’s stock worth $69,640,000 after purchasing an additional 492,132 shares during the last quarter. Bank of America Corp DE boosted its stake in BlackRock Credit Allocation Income Trust by 7.3% in the 3rd quarter. Bank of America Corp DE now owns 4,904,167 shares of the investment management company’s stock valued at $54,191,000 after purchasing an additional 332,714 shares during the period. Guggenheim Capital LLC grew its holdings in BlackRock Credit Allocation Income Trust by 4.3% in the 4th quarter. Guggenheim Capital LLC now owns 1,989,430 shares of the investment management company’s stock valued at $21,546,000 after buying an additional 82,506 shares in the last quarter. Raymond James Financial Inc. grew its holdings in BlackRock Credit Allocation Income Trust by 2.5% in the 3rd quarter. Raymond James Financial Inc. now owns 1,520,686 shares of the investment management company’s stock valued at $16,804,000 after buying an additional 36,757 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in BlackRock Credit Allocation Income Trust by 1,891.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,513,798 shares of the investment management company’s stock worth $16,394,000 after buying an additional 1,437,794 shares during the period.

BlackRock Credit Allocation Income Trust Trading Up 0.8%

BTZ stock opened at $10.23 on Friday. BlackRock Credit Allocation Income Trust has a fifty-two week low of $9.70 and a fifty-two week high of $11.18. The business’s fifty day moving average price is $10.13 and its two-hundred day moving average price is $10.27.

BlackRock Credit Allocation Income Trust Announces Dividend

The firm 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 is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 9.8%.

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.