BlackRock Credit Allocation Income Trust (NYSE:BTZ) Shares Bought by Pin Oak Investment Advisors Inc.

Pin Oak Investment Advisors Inc. grew its stake in BlackRock Credit Allocation Income Trust (NYSE:BTZ) by 25.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 59,583 shares of the investment management company’s stock after buying an additional 12,165 shares during the quarter. Pin Oak Investment Advisors Inc.’s holdings in BlackRock Credit Allocation Income Trust were worth $672,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BTZ. Atticus Wealth Management LLC boosted its holdings in BlackRock Credit Allocation Income Trust by 196.4% during the second quarter. Atticus Wealth Management LLC now owns 2,964 shares of the investment management company’s stock worth $32,000 after buying an additional 1,964 shares in the last quarter. Eastern Bank purchased a new stake in shares of BlackRock Credit Allocation Income Trust during the 3rd quarter worth about $64,000. Lazard Asset Management LLC acquired a new stake in shares of BlackRock Credit Allocation Income Trust during the 1st quarter valued at about $128,000. Cetera Advisors LLC purchased a new position in shares of BlackRock Credit Allocation Income Trust in the 1st quarter valued at about $146,000. Finally, Creekside Partners acquired a new position in BlackRock Credit Allocation Income Trust in the 2nd quarter worth about $156,000.

BlackRock Credit Allocation Income Trust Stock Performance

BlackRock Credit Allocation Income Trust stock opened at $10.97 on Thursday. The business has a 50 day simple moving average of $10.98 and a 200-day simple moving average of $10.84. BlackRock Credit Allocation Income Trust has a 12 month low of $9.92 and a 12 month high of $11.30.

BlackRock Credit Allocation Income Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.0839 dividend. This represents a $1.01 annualized dividend and a yield of 9.18%. This is a boost from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07. The ex-dividend date is Friday, November 15th.

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.