BlackRock Credit Allocation Income Trust (NYSE:BTZ) Announces $0.08 Monthly Dividend

BlackRock Credit Allocation Income Trust (NYSE:BTZ – Get Rating) announced a monthly dividend on Monday, May 2nd, Zacks reports. Investors of record on Monday, May 16th will be given a dividend of 0.084 per share by the investment management company on Tuesday, May 31st. This represents a $1.01 dividend on an annualized basis and a dividend yield of 8.82%. The ex-dividend date is Friday, May 13th.

BlackRock Credit Allocation Income Trust has raised its dividend payment by an average of 7.8% per year over the last three years.

NYSE:BTZ opened at $11.43 on Wednesday. BlackRock Credit Allocation Income Trust has a twelve month low of $11.38 and a twelve month high of $15.95. The company has a 50-day moving average of $12.29 and a 200-day moving average of $13.74.

Institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC bought a new position in BlackRock Credit Allocation Income Trust during the fourth quarter valued at approximately $323,000. Paradigm Financial Partners LLC bought a new position in BlackRock Credit Allocation Income Trust during the fourth quarter valued at approximately $333,000. Thrivent Financial for Lutherans raised its position in BlackRock Credit Allocation Income Trust by 8.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 230,856 shares of the investment management company’s stock valued at $3,474,000 after acquiring an additional 18,499 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in BlackRock Credit Allocation Income Trust by 1.4% during the fourth quarter. Parametric Portfolio Associates LLC now owns 4,514,321 shares of the investment management company’s stock valued at $67,941,000 after acquiring an additional 64,273 shares in the last quarter.

About BlackRock Credit Allocation Income Trust (Get Rating)

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.

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