BlackRock Credit Allocation Income Trust (NYSE:BTZ) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

BlackRock Credit Allocation Income Trust (NYSE:BTZ)’s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.49 and traded as low as $10.06. BlackRock Credit Allocation Income Trust shares last traded at $10.09, with a volume of 321,104 shares.

BlackRock Credit Allocation Income Trust Trading Down 0.3%

The stock’s fifty day moving average is $10.20 and its 200-day moving average is $10.49.

Institutional Trading of BlackRock Credit Allocation Income Trust

A number of hedge funds have recently added to or reduced their stakes in BTZ. Royal Bank of Canada lifted its holdings in BlackRock Credit Allocation Income Trust by 1.4% during the first quarter. Royal Bank of Canada now owns 889,121 shares of the investment management company’s stock valued at $9,531,000 after purchasing an additional 12,607 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of BlackRock Credit Allocation Income Trust by 56.9% in the first quarter. Jane Street Group LLC now owns 17,799 shares of the investment management company’s stock worth $191,000 after buying an additional 6,455 shares in the last quarter. Franklin Resources Inc. purchased a new position in BlackRock Credit Allocation Income Trust during the second quarter worth about $167,000. First Trust Advisors LP raised its stake in BlackRock Credit Allocation Income Trust by 3.6% during the second quarter. First Trust Advisors LP now owns 88,168 shares of the investment management company’s stock worth $963,000 after purchasing an additional 3,052 shares during the period. Finally, Cresset Asset Management LLC purchased a new position in BlackRock Credit Allocation Income Trust during the second quarter worth about $132,000.

About BlackRock Credit Allocation Income Trust

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.