Raymond James Financial Services Advisors Inc. Has $10.30 Million Position in BlackRock Credit Allocation Income Trust (NYSE:BTZ)

Raymond James Financial Services Advisors Inc. grew its stake in BlackRock Credit Allocation Income Trust (NYSE:BTZ) by 4.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 961,789 shares of the investment management company’s stock after purchasing an additional 41,322 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in BlackRock Credit Allocation Income Trust were worth $10,301,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Atticus Wealth Management LLC increased its stake in shares of BlackRock Credit Allocation Income Trust by 196.4% in the 2nd quarter. Atticus Wealth Management LLC now owns 2,964 shares of the investment management company’s stock valued at $32,000 after acquiring an additional 1,964 shares in the last quarter. Riverbridge Partners LLC increased its stake in BlackRock Credit Allocation Income Trust by 4.3% during the 1st quarter. Riverbridge Partners LLC now owns 53,214 shares of the investment management company’s stock valued at $569,000 after purchasing an additional 2,198 shares in the last quarter. Valley Brook Capital Group Inc. increased its stake in BlackRock Credit Allocation Income Trust by 17.3% during the 1st quarter. Valley Brook Capital Group Inc. now owns 20,305 shares of the investment management company’s stock valued at $217,000 after purchasing an additional 3,000 shares in the last quarter. Shaker Financial Services LLC increased its stake in BlackRock Credit Allocation Income Trust by 39.2% during the 4th quarter. Shaker Financial Services LLC now owns 14,500 shares of the investment management company’s stock valued at $150,000 after purchasing an additional 4,085 shares in the last quarter. Finally, Parallel Advisors LLC bought a new stake in BlackRock Credit Allocation Income Trust during the 4th quarter valued at $57,000.

BlackRock Credit Allocation Income Trust Stock Performance

Shares of BTZ stock opened at $11.01 on Friday. The firm has a fifty day simple moving average of $10.76 and a two-hundred day simple moving average of $10.63. BlackRock Credit Allocation Income Trust has a 12 month low of $9.10 and a 12 month high of $11.13.

BlackRock Credit Allocation Income Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.084 per share. This represents a $1.01 dividend on an annualized basis and a yield of 9.16%. This is an increase from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.08. The ex-dividend date of this dividend is Thursday, August 15th.

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.