Palogic Value Management L.P. Trims Stake in BlackRock Credit Allocation Income Trust (NYSE:BTZ)

Palogic Value Management L.P. trimmed its holdings in shares of BlackRock Credit Allocation Income Trust (NYSE:BTZ) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,084 shares of the investment management company’s stock after selling 2,029 shares during the quarter. Palogic Value Management L.P.’s holdings in BlackRock Credit Allocation Income Trust were worth $325,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BTZ. Raymond James Financial Inc. purchased a new position in BlackRock Credit Allocation Income Trust during the fourth quarter worth about $14,172,000. Ibex Wealth Advisors purchased a new position in BlackRock Credit Allocation Income Trust during the fourth quarter worth about $1,226,000. Arcus Capital Partners LLC purchased a new position in BlackRock Credit Allocation Income Trust during the fourth quarter worth about $1,022,000. Private Trust Co. NA grew its position in BlackRock Credit Allocation Income Trust by 10,004.8% during the third quarter. Private Trust Co. NA now owns 75,180 shares of the investment management company’s stock worth $848,000 after buying an additional 74,436 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in BlackRock Credit Allocation Income Trust by 13.4% during the fourth quarter. Advisors Asset Management Inc. now owns 434,253 shares of the investment management company’s stock worth $4,542,000 after buying an additional 51,422 shares in the last quarter.

BlackRock Credit Allocation Income Trust Stock Performance

BlackRock Credit Allocation Income Trust stock opened at $10.69 on Friday. The business has a 50-day simple moving average of $10.71 and a 200 day simple moving average of $10.84. BlackRock Credit Allocation Income Trust has a 52 week low of $9.92 and a 52 week high of $11.30.

BlackRock Credit Allocation Income Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.0839 dividend. This is a boost from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07. This represents a $1.01 dividend on an annualized basis and a dividend yield of 9.42%. The ex-dividend date of this dividend is Friday, March 14th.

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.