Truist Financial Corp Reduces Position in BlackRock Credit Allocation Income Trust (NYSE:BTZ)

Truist Financial Corp trimmed its holdings in BlackRock Credit Allocation Income Trust (NYSE:BTZ) by 5.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 27,832 shares of the investment management company’s stock after selling 1,529 shares during the quarter. Truist Financial Corp’s holdings in BlackRock Credit Allocation Income Trust were worth $291,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kentucky Trust Co purchased a new stake in BlackRock Credit Allocation Income Trust during the 4th quarter valued at about $28,000. Elm3 Financial Group LLC purchased a new stake in shares of BlackRock Credit Allocation Income Trust in the fourth quarter valued at approximately $130,000. Janney Montgomery Scott LLC purchased a new stake in shares of BlackRock Credit Allocation Income Trust in the fourth quarter valued at approximately $162,000. Affiance Financial LLC increased its holdings in shares of BlackRock Credit Allocation Income Trust by 100.0% in the fourth quarter. Affiance Financial LLC now owns 20,000 shares of the investment management company’s stock valued at $209,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Valley Brook Capital Group Inc. boosted its stake in BlackRock Credit Allocation Income Trust by 7.7% during the third quarter. Valley Brook Capital Group Inc. now owns 21,946 shares of the investment management company’s stock worth $248,000 after buying an additional 1,570 shares during the last quarter.

BlackRock Credit Allocation Income Trust Stock Down 0.7 %

Shares of BTZ opened at $10.70 on Thursday. BlackRock Credit Allocation Income Trust has a 52-week low of $9.92 and a 52-week high of $11.30. The stock has a fifty day simple moving average of $10.68 and a two-hundred day simple moving average of $10.87.

BlackRock Credit Allocation Income Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.0839 per share. This is a boost from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07. This represents a $1.01 annualized dividend and a yield of 9.41%. The ex-dividend date of this dividend is Friday, March 14th.

About BlackRock Credit Allocation Income Trust

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.