Northwestern Mutual Wealth Management Co. Buys 1,437,794 Shares of BlackRock Credit Allocation Income Trust $BTZ

Northwestern Mutual Wealth Management Co. grew its holdings in BlackRock Credit Allocation Income Trust (NYSE:BTZ) by 1,891.7% in the fourth quarter, Holdings Channel reports. The firm owned 1,513,798 shares of the investment management company’s stock after buying an additional 1,437,794 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in BlackRock Credit Allocation Income Trust were worth $16,394,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Comerica Bank increased its holdings in shares of BlackRock Credit Allocation Income Trust by 136.5% in the 3rd quarter. Comerica Bank now owns 4,063 shares of the investment management company’s stock worth $45,000 after purchasing an additional 2,345 shares in the last quarter. Caitlin John LLC bought a new stake in shares of BlackRock Credit Allocation Income Trust in the 3rd quarter worth $59,000. Advisory Services Network LLC bought a new stake in shares of BlackRock Credit Allocation Income Trust in the 3rd quarter worth $103,000. Equitable Holdings Inc. bought a new stake in shares of BlackRock Credit Allocation Income Trust in the 3rd quarter worth $113,000. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of BlackRock Credit Allocation Income Trust in the 4th quarter worth $114,000.

BlackRock Credit Allocation Income Trust Price Performance

BlackRock Credit Allocation Income Trust stock opened at $10.04 on Thursday. The stock has a fifty day simple moving average of $10.18 and a two-hundred day simple moving average of $10.56. BlackRock Credit Allocation Income Trust has a 12 month low of $9.70 and a 12 month high of $11.18.

BlackRock Credit Allocation Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.0839 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 10.0%.

BlackRock Credit Allocation Income Trust Profile

BlackRock Credit Allocation Income Trust (NYSE: BTZ) is a closed-end management investment company sponsored by BlackRock Fund Advisors. The trust seeks to provide investors with a high level of current income, as well as the potential for capital appreciation, through an actively managed portfolio of credit and income-producing securities. BTZ primarily focuses on instruments that offer attractive yields while aiming to preserve capital over the long term.

The portfolio is diversified across a broad spectrum of credit sectors, including investment-grade corporate debt, high-yield bonds, leveraged bank loans, residential and commercial mortgage-backed securities, and asset-backed securities.