Physician Wealth Advisors Inc. Cuts Holdings in BlackRock Credit Allocation Income Trust (NYSE:BTZ)

Physician Wealth Advisors Inc. reduced its position in BlackRock Credit Allocation Income Trust (NYSE:BTZ) by 19.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 11,845 shares of the investment management company’s stock after selling 2,839 shares during the period. Physician Wealth Advisors Inc.’s holdings in BlackRock Credit Allocation Income Trust were worth $132,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BTZ. Allspring Global Investments Holdings LLC increased its holdings in BlackRock Credit Allocation Income Trust by 3.7% in the 2nd 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 purchasing an additional 140,726 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in BlackRock Credit Allocation Income Trust in the 1st quarter valued at $128,000. Creekside Partners acquired a new stake in BlackRock Credit Allocation Income Trust in the 2nd quarter valued at $156,000. Raymond James Financial Services Advisors Inc. increased its holdings in BlackRock Credit Allocation Income Trust by 4.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 961,789 shares of the investment management company’s stock valued at $10,301,000 after purchasing an additional 41,322 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in BlackRock Credit Allocation Income Trust by 7.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 32,989 shares of the investment management company’s stock valued at $353,000 after purchasing an additional 2,200 shares in the last quarter.

BlackRock Credit Allocation Income Trust Trading Down 0.7 %

Shares of NYSE BTZ opened at $11.07 on Friday. BlackRock Credit Allocation Income Trust has a 12-month low of $9.10 and a 12-month high of $11.30. The stock has a fifty day moving average price of $11.08 and a 200 day moving average price of $10.73.

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 issued a $0.0839 dividend. This is an increase from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07. This represents a $1.01 annualized dividend and a yield of 9.09%. The ex-dividend date is Tuesday, October 15th.

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.