BlackRock Credit Allocation Income Trust (NYSE:BTZ) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp decreased its stake in BlackRock Credit Allocation Income Trust (NYSE:BTZ) by 11.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,546 shares of the investment management company’s stock after selling 2,378 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in BlackRock Credit Allocation Income Trust were worth $198,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its position in BlackRock Credit Allocation Income Trust by 3.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,948,185 shares of the investment management company’s stock worth $42,285,000 after purchasing an additional 140,726 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of BlackRock Credit Allocation Income Trust by 4.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 961,789 shares of the investment management company’s stock valued at $10,301,000 after purchasing an additional 41,322 shares during the period. Capital Investment Advisors LLC increased its stake in BlackRock Credit Allocation Income Trust by 5.2% during the 3rd quarter. Capital Investment Advisors LLC now owns 954,311 shares of the investment management company’s stock worth $10,765,000 after buying an additional 47,124 shares in the last quarter. Advisors Asset Management Inc. raised its stake in 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 valued at $4,318,000 after purchasing an additional 3,160 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in BlackRock Credit Allocation Income Trust by 1,018.1% during the third quarter. International Assets Investment Management LLC now owns 382,636 shares of the investment management company’s stock worth $43,160,000 after acquiring an additional 348,414 shares during the last quarter.

BlackRock Credit Allocation Income Trust Price Performance

NYSE BTZ opened at $10.82 on Tuesday. BlackRock Credit Allocation Income Trust has a fifty-two week low of $9.92 and a fifty-two week high of $11.30. The stock’s fifty day moving average is $10.93 and its two-hundred day moving average is $10.89.

BlackRock Credit Allocation Income Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 16th will be paid a $0.0839 dividend. This is a boost from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07. The ex-dividend date is Monday, December 16th. This represents a $1.01 annualized dividend and a dividend yield of 9.30%.

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.