Miller Financial Services LLC Takes Position in BlackRock Credit Allocation Income Trust (NYSE:BTZ)

Miller Financial Services LLC bought a new position in BlackRock Credit Allocation Income Trust (NYSE:BTZ) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,000 shares of the investment management company’s stock, valued at approximately $136,000.

Other hedge funds have also modified their holdings of the company. Independent Advisor Alliance acquired a new position in shares of BlackRock Credit Allocation Income Trust in the 4th quarter valued at $140,000. Sowell Financial Services LLC boosted its holdings in shares of BlackRock Credit Allocation Income Trust by 5.1% in the fourth quarter. Sowell Financial Services LLC now owns 660,122 shares of the investment management company’s stock worth $6,905,000 after buying an additional 32,113 shares during the period. Argentarii LLC acquired a new position in shares of BlackRock Credit Allocation Income Trust in the fourth quarter worth about $108,000. Raymond James Financial Inc. purchased a new position in shares of BlackRock Credit Allocation Income Trust in the fourth quarter worth approximately $14,172,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of BlackRock Credit Allocation Income Trust during the fourth quarter valued at approximately $110,000.

BlackRock Credit Allocation Income Trust Stock Performance

Shares of NYSE:BTZ opened at $10.62 on Wednesday. BlackRock Credit Allocation Income Trust has a 52 week low of $9.92 and a 52 week high of $11.30. The firm has a 50 day simple moving average of $10.70 and a 200 day simple moving average of $10.86.

BlackRock Credit Allocation Income Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.0839 per share. This is an increase from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07. The ex-dividend date is Friday, March 14th. This represents a $1.01 dividend on an annualized basis and a dividend yield of 9.48%.

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.