BlackRock Credit Allocation Income Trust (NYSE:BTZ) Stock Crosses Above 50 Day Moving Average – Time to Sell?

BlackRock Credit Allocation Income Trust (NYSE:BTZ)’s stock price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $10.18 and traded as high as $10.27. BlackRock Credit Allocation Income Trust shares last traded at $10.2150, with a volume of 332,524 shares traded.

BlackRock Credit Allocation Income Trust Stock Performance

The company’s 50 day simple moving average is $10.18 and its 200-day simple moving average is $10.40.

BlackRock Credit Allocation Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.0839 per share. This represents a c) annualized dividend and a dividend yield of 9.9%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Investors Weigh In On BlackRock Credit Allocation Income Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ibex Wealth Advisors grew its position in BlackRock Credit Allocation Income Trust by 0.9% in the 1st quarter. Ibex Wealth Advisors now owns 108,640 shares of the investment management company’s stock worth $1,097,000 after purchasing an additional 992 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of BlackRock Credit Allocation Income Trust by 3.8% during the 3rd quarter. NewEdge Advisors LLC now owns 29,885 shares of the investment management company’s stock valued at $330,000 after buying an additional 1,100 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of BlackRock Credit Allocation Income Trust by 4.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 27,600 shares of the investment management company’s stock worth $299,000 after buying an additional 1,102 shares during the last quarter. Elevation Point Wealth Partners LLC boosted its stake in shares of BlackRock Credit Allocation Income Trust by 1.7% in the 4th quarter. Elevation Point Wealth Partners LLC now owns 81,558 shares of the investment management company’s stock worth $883,000 after buying an additional 1,332 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of BlackRock Credit Allocation Income Trust by 2.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 77,614 shares of the investment management company’s stock worth $841,000 after acquiring an additional 1,610 shares during the period.

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.