Patten & Patten Inc. TN Makes New Investment in BlackRock Credit Allocation Income Trust (NYSE:BTZ)

Patten & Patten Inc. TN acquired a new position in BlackRock Credit Allocation Income Trust (NYSE:BTZ) in the first quarter, Holdings Channel reports. The fund acquired 10,000 shares of the investment management company’s stock, valued at approximately $107,000.

A number of other institutional investors have also added to or reduced their stakes in BTZ. McGlone Suttner Wealth Management Inc. bought a new stake in BlackRock Credit Allocation Income Trust in the 4th quarter worth about $30,000. Parallel Advisors LLC bought a new stake in BlackRock Credit Allocation Income Trust in the 4th quarter worth about $57,000. Affiance Financial LLC bought a new stake in BlackRock Credit Allocation Income Trust in the 1st quarter worth about $107,000. Tyche Wealth Partners LLC bought a new stake in BlackRock Credit Allocation Income Trust in the 4th quarter worth about $114,000. Finally, MRA Advisory Group bought a new position in shares of BlackRock Credit Allocation Income Trust during the 1st quarter valued at approximately $122,000.

BlackRock Credit Allocation Income Trust Stock Up 0.3 %

Shares of BlackRock Credit Allocation Income Trust stock traded up $0.03 on Tuesday, reaching $10.60. 20,698 shares of the company traded hands, compared to its average volume of 258,172. BlackRock Credit Allocation Income Trust has a 52 week low of $9.10 and a 52 week high of $11.13. The company has a 50 day moving average of $10.62 and a 200 day moving average of $10.61.

BlackRock Credit Allocation Income Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be given a dividend of $0.0839 per share. This is an increase from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07. This represents a $1.01 dividend on an annualized basis and a dividend yield of 9.50%. The ex-dividend date is Monday, July 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.