Sit Investment Associates Inc. Grows Stock Holdings in BlackRock Credit Allocation Income Trust $BTZ

Sit Investment Associates Inc. boosted its stake in shares of BlackRock Credit Allocation Income Trust (NYSE:BTZ) by 8.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,430,309 shares of the investment management company’s stock after buying an additional 492,132 shares during the quarter. BlackRock Credit Allocation Income Trust accounts for approximately 1.4% of Sit Investment Associates Inc.’s portfolio, making the stock its 14th largest holding. Sit Investment Associates Inc.’s holdings in BlackRock Credit Allocation Income Trust were worth $69,640,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in shares of BlackRock Credit Allocation Income Trust by 7.3% during the 3rd quarter. Bank of America Corp DE now owns 4,904,167 shares of the investment management company’s stock worth $54,191,000 after acquiring an additional 332,714 shares in the last quarter. Raymond James Financial Inc. raised its holdings in BlackRock Credit Allocation Income Trust by 2.5% during the third quarter. Raymond James Financial Inc. now owns 1,520,686 shares of the investment management company’s stock worth $16,804,000 after purchasing an additional 36,757 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in BlackRock Credit Allocation Income Trust by 1,891.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,513,798 shares of the investment management company’s stock worth $16,394,000 after purchasing an additional 1,437,794 shares in the last quarter. Invesco Ltd. increased its position in shares of BlackRock Credit Allocation Income Trust by 0.4% in the third quarter. Invesco Ltd. now owns 1,265,630 shares of the investment management company’s stock valued at $13,985,000 after buying an additional 5,145 shares in the last quarter. Finally, LPL Financial LLC raised its position in BlackRock Credit Allocation Income Trust by 2.4% during the fourth quarter. LPL Financial LLC now owns 995,529 shares of the investment management company’s stock worth $10,782,000 after acquiring an additional 23,333 shares during the last quarter.

BlackRock Credit Allocation Income Trust Price Performance

Shares of BTZ opened at $10.13 on Friday. BlackRock Credit Allocation Income Trust has a 1 year low of $9.70 and a 1 year high of $11.18. The company’s 50 day simple moving average is $10.22 and its 200 day simple moving average is $10.47.

BlackRock Credit Allocation Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.0839 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date of this dividend is Tuesday, September 15th.

About BlackRock Credit Allocation Income Trust

BlackRock Credit Allocation Income Trust (NYSE: BTZ) is a closed-end management investment company sponsored by BlackRock Fund Advisors. The trust seeks to provide investors with a high level of current income, as well as the potential for capital appreciation, through an actively managed portfolio of credit and income-producing securities. BTZ primarily focuses on instruments that offer attractive yields while aiming to preserve capital over the long term.

The portfolio is diversified across a broad spectrum of credit sectors, including investment-grade corporate debt, high-yield bonds, leveraged bank loans, residential and commercial mortgage-backed securities, and asset-backed securities.