Janney Montgomery Scott LLC Takes Position in BlackRock Credit Allocation Income Trust (NYSE:BTZ)

Janney Montgomery Scott LLC acquired a new stake in BlackRock Credit Allocation Income Trust (NYSE:BTZ) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 16,680 shares of the investment management company’s stock, valued at approximately $169,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BTZ. Private Advisor Group LLC lifted its stake in shares of BlackRock Credit Allocation Income Trust by 6.9% in the 1st quarter. Private Advisor Group LLC now owns 30,396 shares of the investment management company’s stock valued at $382,000 after purchasing an additional 1,964 shares during the period. Baird Financial Group Inc. lifted its stake in shares of BlackRock Credit Allocation Income Trust by 29.0% in the 1st quarter. Baird Financial Group Inc. now owns 50,550 shares of the investment management company’s stock valued at $635,000 after purchasing an additional 11,350 shares during the period. NewEdge Advisors LLC lifted its stake in shares of BlackRock Credit Allocation Income Trust by 19.6% in the 1st quarter. NewEdge Advisors LLC now owns 25,634 shares of the investment management company’s stock valued at $322,000 after purchasing an additional 4,200 shares during the period. Rivernorth Capital Management LLC acquired a new position in shares of BlackRock Credit Allocation Income Trust in the 1st quarter valued at about $2,867,000. Finally, Evergreen Capital Management LLC lifted its stake in shares of BlackRock Credit Allocation Income Trust by 51.7% in the 1st quarter. Evergreen Capital Management LLC now owns 200,892 shares of the investment management company’s stock valued at $2,523,000 after purchasing an additional 68,460 shares during the period.

BlackRock Credit Allocation Income Trust Price Performance

Shares of NYSE:BTZ opened at $9.70 on Friday. The business’s 50-day moving average is $9.69 and its 200-day moving average is $10.01. BlackRock Credit Allocation Income Trust has a 1 year low of $9.10 and a 1 year high of $11.46.

BlackRock Credit Allocation Income Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, November 30th. Investors of record on Wednesday, November 15th will be given a $0.0839 dividend. This represents a $1.01 dividend on an annualized basis and a yield of 10.38%. This is a positive change from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07. The ex-dividend date is Tuesday, November 14th.

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.