Raymond James Financial Inc. Takes $14.17 Million Position in BlackRock Credit Allocation Income Trust (NYSE:BTZ)

Raymond James Financial Inc. acquired a new position in BlackRock Credit Allocation Income Trust (NYSE:BTZ) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,354,874 shares of the investment management company’s stock, valued at approximately $14,172,000.

Other large investors also recently bought and sold shares of the company. Kentucky Trust Co bought a new position in BlackRock Credit Allocation Income Trust in the fourth quarter worth approximately $28,000. Noble Wealth Management PBC purchased a new position in BlackRock Credit Allocation Income Trust in the fourth quarter worth $110,000. 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. Finally, Affiance Financial LLC grew 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 worth $209,000 after purchasing an additional 10,000 shares during the last quarter.

BlackRock Credit Allocation Income Trust Price Performance

Shares of BTZ opened at $10.58 on Wednesday. BlackRock Credit Allocation Income Trust has a 1-year low of $9.92 and a 1-year high of $11.30. The company’s fifty day moving average price is $10.71 and its 200-day moving average price is $10.84.

BlackRock Credit Allocation Income Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.0839 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07. This represents a $1.01 dividend on an annualized basis and a dividend yield of 9.52%.

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.