BlackRock Credit Allocation Income Trust (NYSE:BTZ) Stock Price Passes Below 200 Day Moving Average – What’s Next?

BlackRock Credit Allocation Income Trust (NYSE:BTZ – Get Free Report) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.56 and traded as low as $9.87. BlackRock Credit Allocation Income Trust shares last traded at $10.0350, with a volume of 737,866 shares traded.

BlackRock Credit Allocation Income Trust Stock Performance

The firm’s 50 day simple moving average is $10.17 and its 200-day simple moving average is $10.55.

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BlackRock Credit Allocation Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.0839 dividend. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 10.0%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BTZ. Fifth Third Bancorp purchased a new position in shares of BlackRock Credit Allocation Income Trust in the first quarter valued at $34,000. Comerica Bank boosted its stake in shares of BlackRock Credit Allocation Income Trust by 136.5% in the third quarter. Comerica Bank now owns 4,063 shares of the investment management company’s stock valued at $45,000 after purchasing an additional 2,345 shares during the period. Caitlin John LLC purchased a new position in shares of BlackRock Credit Allocation Income Trust in the third quarter valued at $59,000. Advisory Services Network LLC purchased a new position in shares of BlackRock Credit Allocation Income Trust in the third quarter valued at $103,000. Finally, Stephens Inc. AR purchased a new position in shares of BlackRock Credit Allocation Income Trust in the first quarter valued at $106,000.

About BlackRock Credit Allocation Income Trust

(Get Free Report)

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.

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