Elm3 Financial Group LLC Makes New $130,000 Investment in BlackRock Credit Allocation Income Trust (NYSE:BTZ)

Elm3 Financial Group LLC acquired a new stake in BlackRock Credit Allocation Income Trust (NYSE:BTZ) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 12,400 shares of the investment management company’s stock, valued at approximately $130,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of BTZ. Valley Brook Capital Group Inc. raised its holdings in BlackRock Credit Allocation Income Trust by 7.7% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 21,946 shares of the investment management company’s stock valued at $248,000 after buying an additional 1,570 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of BlackRock Credit Allocation Income Trust by 0.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 382,831 shares of the investment management company’s stock worth $4,318,000 after acquiring an additional 3,160 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of BlackRock Credit Allocation Income Trust by 1.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 259,111 shares of the investment management company’s stock worth $2,922,000 after purchasing an additional 3,353 shares during the period. Eastern Bank bought a new position in BlackRock Credit Allocation Income Trust during the 3rd quarter valued at about $64,000. Finally, Affiance Financial LLC raised its position in BlackRock Credit Allocation Income Trust by 100.0% in the 4th quarter. Affiance Financial LLC now owns 20,000 shares of the investment management company’s stock worth $209,000 after purchasing an additional 10,000 shares during the period.

BlackRock Credit Allocation Income Trust Price Performance

Shares of NYSE BTZ opened at $10.91 on Thursday. BlackRock Credit Allocation Income Trust has a 1 year low of $9.92 and a 1 year high of $11.30. The firm has a 50-day simple moving average of $10.69 and a two-hundred day simple moving average of $10.86.

BlackRock Credit Allocation Income Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $0.0839 per share. The ex-dividend date is Friday, February 14th. This represents a $1.01 dividend on an annualized basis and a yield of 9.23%. This is a boost from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07.

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.