Elevation Point Wealth Partners LLC Buys Shares of 79,458 BlackRock Credit Allocation Income Trust $BTZ

Elevation Point Wealth Partners LLC acquired a new position in shares of BlackRock Credit Allocation Income Trust (NYSE:BTZ) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 79,458 shares of the investment management company’s stock, valued at approximately $812,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its position in BlackRock Credit Allocation Income Trust by 1,891.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,513,798 shares of the investment management company’s stock worth $16,394,000 after acquiring an additional 1,437,794 shares in the last quarter. 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 worth $49,920,000 after purchasing an additional 742,650 shares in the last quarter. Sit Investment Associates Inc. increased its position in BlackRock Credit Allocation Income Trust by 8.3% during the fourth quarter. Sit Investment Associates Inc. now owns 6,430,309 shares of the investment management company’s stock worth $69,640,000 after buying an additional 492,132 shares during the last quarter. Rareview Capital LLC increased its holdings in shares of BlackRock Credit Allocation Income Trust by 158.3% during the 1st quarter. Rareview Capital LLC now owns 367,912 shares of the investment management company’s stock valued at $4,018,000 after acquiring an additional 225,471 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of BlackRock Credit Allocation Income Trust by 36.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 617,201 shares of the investment management company’s stock valued at $6,234,000 after acquiring an additional 165,959 shares in the last quarter.

BlackRock Credit Allocation Income Trust Stock Performance

BTZ opened at $10.09 on Tuesday. The business has a 50 day moving average price of $10.15 and a 200 day moving average price of $10.24. BlackRock Credit Allocation Income Trust has a twelve month low of $9.70 and a twelve month high of $11.18.

BlackRock Credit Allocation Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.0839 per share. This represents a c) dividend on an annualized basis and a yield of 10.0%. The ex-dividend date is Tuesday, September 15th.

About BlackRock Credit Allocation Income Trust

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.