Noble Wealth Management PBC Makes New $110,000 Investment in BlackRock Credit Allocation Income Trust (NYSE:BTZ)

Noble Wealth Management PBC bought a new stake in BlackRock Credit Allocation Income Trust (NYSE:BTZ) during the 4th quarter, HoldingsChannel reports. The fund bought 10,474 shares of the investment management company’s stock, valued at approximately $110,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kentucky Trust Co acquired a new stake in shares of BlackRock Credit Allocation Income Trust in the 4th quarter valued at approximately $28,000. Elm3 Financial Group LLC purchased a new position in BlackRock Credit Allocation Income Trust in the fourth quarter worth $130,000. Janney Montgomery Scott LLC purchased a new position in BlackRock Credit Allocation Income Trust in the fourth quarter worth $162,000. Affiance Financial LLC lifted its holdings in BlackRock Credit Allocation Income Trust by 100.0% in the fourth quarter. Affiance Financial LLC now owns 20,000 shares of the investment management company’s stock valued at $209,000 after acquiring an additional 10,000 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its position in shares of BlackRock Credit Allocation Income Trust by 27.5% during the 4th quarter. Concurrent Investment Advisors LLC now owns 20,776 shares of the investment management company’s stock worth $217,000 after purchasing an additional 4,477 shares in the last quarter.

BlackRock Credit Allocation Income Trust Trading Up 0.4 %

Shares of BTZ opened at $10.85 on Friday. BlackRock Credit Allocation Income Trust has a 52-week low of $9.92 and a 52-week high of $11.30. The company has a 50-day simple moving average of $10.67 and a 200-day simple moving average of $10.87.

BlackRock Credit Allocation Income Trust Increases Dividend

The company also recently declared a monthly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.0839 per share. This represents a $1.01 annualized dividend and a dividend yield of 9.28%. The ex-dividend date of this dividend was Friday, February 14th. This is an increase from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07.

BlackRock Credit Allocation Income Trust Profile

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.