Broyhill Asset Management Purchases New Stake in BlackRock Credit Allocation Income Trust (NYSE:BTZ)

Broyhill Asset Management acquired a new stake in BlackRock Credit Allocation Income Trust (NYSE:BTZ) in the 4th quarter, Holdings Channel reports. The firm acquired 32,500 shares of the investment management company’s stock, valued at approximately $340,000.

Other hedge funds have also made changes to their positions in the company. Kentucky Trust Co purchased a new position in BlackRock Credit Allocation Income Trust during the 4th quarter valued at about $28,000. Oarsman Capital Inc. increased its stake in shares of BlackRock Credit Allocation Income Trust by 460.8% during the 4th quarter. Oarsman Capital Inc. now owns 6,085 shares of the investment management company’s stock worth $64,000 after purchasing an additional 5,000 shares in the last quarter. Huntington National Bank raised its position in shares of BlackRock Credit Allocation Income Trust by 458,000.0% during the 4th quarter. Huntington National Bank now owns 9,162 shares of the investment management company’s stock worth $96,000 after purchasing an additional 9,160 shares during the last quarter. Argentarii LLC purchased a new stake in BlackRock Credit Allocation Income Trust in the 4th quarter valued at approximately $108,000. Finally, Noble Wealth Management PBC acquired a new stake in BlackRock Credit Allocation Income Trust during the 4th quarter valued at $110,000.

BlackRock Credit Allocation Income Trust Stock Performance

Shares of NYSE:BTZ opened at $10.01 on Monday. BlackRock Credit Allocation Income Trust has a 52-week low of $9.54 and a 52-week high of $11.30. The stock’s fifty day simple moving average is $10.62 and its 200-day simple moving average is $10.75.

BlackRock Credit Allocation Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.0839 per share. The ex-dividend date is Tuesday, April 15th. This represents a $1.01 dividend on an annualized basis and a dividend yield of 10.06%.

BlackRock Credit Allocation Income Trust Profile

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.