Eastern Bank Takes $64,000 Position in BlackRock Credit Allocation Income Trust (NYSE:BTZ)

Eastern Bank bought a new stake in shares of BlackRock Credit Allocation Income Trust (NYSE:BTZ) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,670 shares of the investment management company’s stock, valued at approximately $64,000.

Several other hedge funds have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its stake in BlackRock Credit Allocation Income Trust by 3.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 3,948,185 shares of the investment management company’s stock worth $42,285,000 after purchasing an additional 140,726 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in BlackRock Credit Allocation Income Trust by 4.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 961,789 shares of the investment management company’s stock worth $10,301,000 after purchasing an additional 41,322 shares during the period. Capital Investment Advisors LLC grew its stake in BlackRock Credit Allocation Income Trust by 5.2% in the third quarter. Capital Investment Advisors LLC now owns 954,311 shares of the investment management company’s stock worth $10,765,000 after purchasing an additional 47,124 shares during the period. Advisors Asset Management Inc. grew its stake in BlackRock Credit Allocation Income Trust by 138.6% in the first quarter. Advisors Asset Management Inc. now owns 287,659 shares of the investment management company’s stock worth $3,075,000 after purchasing an additional 167,093 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in BlackRock Credit Allocation Income Trust by 2.8% in the second quarter. Thrivent Financial for Lutherans now owns 255,758 shares of the investment management company’s stock worth $2,739,000 after purchasing an additional 7,000 shares during the period.

BlackRock Credit Allocation Income Trust Stock Up 0.4 %

Shares of BTZ stock opened at $10.84 on Friday. The business’s fifty day moving average is $11.07 and its 200 day moving average is $10.74. BlackRock Credit Allocation Income Trust has a twelve month low of $9.11 and a twelve month high of $11.30.

BlackRock Credit Allocation Income Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a $0.0839 dividend. This represents a $1.01 annualized dividend and a yield of 9.29%. This is an increase from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07. The ex-dividend date is Tuesday, October 15th.

BlackRock Credit Allocation Income Trust Company 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.