Truist Financial Corp Sells 1,728 Shares of BlackRock Credit Allocation Income Trust (NYSE:BTZ)

Truist Financial Corp cut its holdings in BlackRock Credit Allocation Income Trust (NYSE:BTZ) by 5.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,831 shares of the investment management company’s stock after selling 1,728 shares during the period. Truist Financial Corp’s holdings in BlackRock Credit Allocation Income Trust were worth $319,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thrivent Financial for Lutherans increased its holdings in shares of BlackRock Credit Allocation Income Trust by 2.8% during the second quarter. Thrivent Financial for Lutherans now owns 255,758 shares of the investment management company’s stock worth $2,739,000 after purchasing an additional 7,000 shares during the period. Stolper Co increased its stake in BlackRock Credit Allocation Income Trust by 1.7% during the 2nd quarter. Stolper Co now owns 75,246 shares of the investment management company’s stock worth $806,000 after acquiring an additional 1,281 shares during the period. Choreo LLC acquired a new position in BlackRock Credit Allocation Income Trust in the 2nd quarter valued at $403,000. Waterfront Wealth Inc. lifted its position in shares of BlackRock Credit Allocation Income Trust by 4.8% during the 2nd quarter. Waterfront Wealth Inc. now owns 160,433 shares of the investment management company’s stock valued at $1,718,000 after acquiring an additional 7,370 shares during the period. Finally, Commonwealth Equity Services LLC grew its holdings in shares of BlackRock Credit Allocation Income Trust by 7.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 32,989 shares of the investment management company’s stock worth $353,000 after purchasing an additional 2,200 shares in the last quarter.

BlackRock Credit Allocation Income Trust Stock Performance

Shares of NYSE BTZ opened at $11.05 on Friday. The stock’s fifty day moving average is $11.08 and its 200 day moving average is $10.73. BlackRock Credit Allocation Income Trust has a 52 week low of $9.10 and a 52 week high of $11.30.

BlackRock Credit Allocation Income Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a $0.0839 dividend. This is a positive change from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07. This represents a $1.01 annualized dividend and a yield of 9.11%. The ex-dividend date of this dividend is Tuesday, October 15th.

BlackRock Credit Allocation Income Trust Company 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.