BlackRock Credit Allocation Income Trust (NYSE:BTZ) Stock Crosses Below 50-Day Moving Average – Should You Sell?

BlackRock Credit Allocation Income Trust (NYSE:BTZ) shares passed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $9.53 and traded as low as $9.37. BlackRock Credit Allocation Income Trust shares last traded at $9.3950, with a volume of 520,117 shares.

BlackRock Credit Allocation Income Trust Stock Down 1.5%

The business’s 50 day simple moving average is $9.53 and its 200 day simple moving average is $10.07.

BlackRock Credit Allocation Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be issued a dividend of $0.0839 per share. This represents a $1.01 annualized dividend and a yield of 10.7%. The ex-dividend date is Friday, December 11th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. First Trust Advisors LP increased its stake in BlackRock Credit Allocation Income Trust by 16.9% in the third quarter. First Trust Advisors LP now owns 261,599 shares of the investment management company’s stock worth $2,435,000 after purchasing an additional 37,739 shares during the period. Advisors Asset Management Inc. bought a new stake in BlackRock Credit Allocation Income Trust during the third quarter valued at about $670,000. Private Advisor Group LLC raised its stake in shares of BlackRock Credit Allocation Income Trust by 37.2% during the 3rd quarter. Private Advisor Group LLC now owns 24,251 shares of the investment management company’s stock worth $226,000 after acquiring an additional 6,577 shares in the last quarter. Ibex Wealth Advisors increased its position in shares of BlackRock Credit Allocation Income Trust by 1.7% during the third quarter. Ibex Wealth Advisors now owns 107,875 shares of the investment management company’s stock worth $1,004,000 after purchasing an additional 1,786 shares in the last quarter. Finally, Riverbridge Partners LLC raised its stake in BlackRock Credit Allocation Income Trust by 3.4% in the third quarter. Riverbridge Partners LLC now owns 96,329 shares of the investment management company’s stock valued at $897,000 after buying an additional 3,149 shares during the last quarter.

About BlackRock Credit Allocation Income Trust

BlackRock Credit Allocation Income Trust (NYSE: BTZ) is a publicly traded closed-end management investment company. The trust seeks to provide current income and, secondarily, total return through a professionally managed portfolio of credit-related fixed-income investments. Its portfolio may include corporate bonds, bank loans, mortgage- and asset-backed securities, government and agency securities, preferred securities, and other debt instruments. The trust can invest across a range of credit qualities and maturities, including securities issued by companies and entities in the United States and other countries.