Blackrock Credit Allocation Income Trust (BTZ) Position Boosted by McGowan Group Asset Management Inc.

McGowan Group Asset Management Inc. raised its holdings in shares of Blackrock Credit Allocation Income Trust (NYSE:BTZ) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 845,438 shares of the investment management company’s stock after buying an additional 22,951 shares during the quarter. Blackrock Credit Allocation Income Trust comprises about 1.7% of McGowan Group Asset Management Inc.’s holdings, making the stock its 18th largest position. McGowan Group Asset Management Inc.’s holdings in Blackrock Credit Allocation Income Trust were worth $10,348,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC boosted its holdings in shares of Blackrock Credit Allocation Income Trust by 51.4% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 13,951 shares of the investment management company’s stock worth $163,000 after purchasing an additional 4,735 shares in the last quarter. We Are One Seven LLC purchased a new position in shares of Blackrock Credit Allocation Income Trust in the 3rd quarter worth about $201,000. PNC Financial Services Group Inc. boosted its holdings in shares of Blackrock Credit Allocation Income Trust by 44.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 17,312 shares of the investment management company’s stock worth $212,000 after purchasing an additional 5,300 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Blackrock Credit Allocation Income Trust by 42.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 17,612 shares of the investment management company’s stock worth $216,000 after purchasing an additional 5,267 shares in the last quarter. Finally, SMH Capital Advisors Inc. boosted its holdings in shares of Blackrock Credit Allocation Income Trust by 28.5% in the 3rd quarter. SMH Capital Advisors Inc. now owns 23,359 shares of the investment management company’s stock worth $286,000 after purchasing an additional 5,177 shares in the last quarter.

BTZ opened at $11.67 on Monday. Blackrock Credit Allocation Income Trust has a 12-month low of $11.46 and a 12-month high of $13.51.

The company also recently disclosed a monthly dividend, which was paid on Friday, November 30th. Stockholders of record on Thursday, November 15th were issued a $0.067 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 6.89%. The ex-dividend date of this dividend was Wednesday, November 14th.

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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.

Further Reading: What is the Dividend Aristocrat Index?

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Institutional Ownership by Quarter for Blackrock Credit Allocation Income Trust (NYSE:BTZ)

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