Sit Investment Associates Inc. Grows Position in BlackRock Credit Allocation Income Trust $BTZ

Sit Investment Associates Inc. boosted its stake in shares of BlackRock Credit Allocation Income Trust (NYSE:BTZ) by 8.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,430,309 shares of the investment management company’s stock after acquiring an additional 492,132 shares during the period. BlackRock Credit Allocation Income Trust comprises approximately 1.4% of Sit Investment Associates Inc.’s holdings, making the stock its 14th biggest holding. Sit Investment Associates Inc.’s holdings in BlackRock Credit Allocation Income Trust were worth $69,640,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its stake in shares of BlackRock Credit Allocation Income Trust by 1,891.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,513,798 shares of the investment management company’s stock valued at $16,394,000 after buying an additional 1,437,794 shares during the period. Bank of America Corp DE boosted its holdings in BlackRock Credit Allocation Income Trust by 19.4% in the second quarter. Bank of America Corp DE now owns 4,571,453 shares of the investment management company’s stock valued at $49,920,000 after acquiring an additional 742,650 shares during the last quarter. Emissary Wealth LLC acquired a new position in BlackRock Credit Allocation Income Trust in the fourth quarter valued at $2,863,000. Raymond James Financial Inc. grew its position in BlackRock Credit Allocation Income Trust by 8.6% during the second quarter. Raymond James Financial Inc. now owns 1,483,929 shares of the investment management company’s stock valued at $16,205,000 after acquiring an additional 117,660 shares during the period. Finally, UBS Group AG increased its stake in BlackRock Credit Allocation Income Trust by 18.6% during the third quarter. UBS Group AG now owns 668,820 shares of the investment management company’s stock worth $7,390,000 after acquiring an additional 105,028 shares during the last quarter.

BlackRock Credit Allocation Income Trust Stock Performance

BlackRock Credit Allocation Income Trust stock opened at $10.13 on Friday. BlackRock Credit Allocation Income Trust has a 12 month low of $9.70 and a 12 month high of $11.18. The stock’s 50-day moving average is $10.22 and its 200-day moving average is $10.47.

BlackRock Credit Allocation Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.0839 per share. This represents a c) dividend on an annualized basis and a yield of 9.9%. The ex-dividend date of this dividend is Tuesday, September 15th.

BlackRock Credit Allocation Income Trust Profile

BlackRock Credit Allocation Income Trust (NYSE: BTZ) is a closed-end management investment company sponsored by BlackRock Fund Advisors. The trust seeks to provide investors with a high level of current income, as well as the potential for capital appreciation, through an actively managed portfolio of credit and income-producing securities. BTZ primarily focuses on instruments that offer attractive yields while aiming to preserve capital over the long term.

The portfolio is diversified across a broad spectrum of credit sectors, including investment-grade corporate debt, high-yield bonds, leveraged bank loans, residential and commercial mortgage-backed securities, and asset-backed securities.