Northwestern Mutual Wealth Management Co. Invests $797,000 in BlackRock Credit Allocation Income Trust $BTZ

Northwestern Mutual Wealth Management Co. purchased a new position in BlackRock Credit Allocation Income Trust (NYSE:BTZ) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 77,972 shares of the investment management company’s stock, valued at approximately $797,000.

Several other institutional investors have also bought and sold shares of BTZ. Fifth Third Bancorp bought a new position in BlackRock Credit Allocation Income Trust during the first quarter valued at $34,000. Comerica Bank raised its stake in shares of BlackRock Credit Allocation Income Trust by 136.5% in the third quarter. Comerica Bank now owns 4,063 shares of the investment management company’s stock valued at $45,000 after buying an additional 2,345 shares during the period. Advisory Services Network LLC bought a new stake in shares of BlackRock Credit Allocation Income Trust in the third quarter valued at $103,000. Equitable Holdings Inc. purchased a new position in shares of BlackRock Credit Allocation Income Trust during the 3rd quarter valued at $113,000. Finally, Stephens Inc. AR purchased a new position in shares of BlackRock Credit Allocation Income Trust during the 1st quarter valued at $106,000.

BlackRock Credit Allocation Income Trust Trading Up 0.4%

BTZ stock opened at $10.14 on Thursday. The stock has a fifty day moving average of $10.16 and a 200-day moving average of $10.23. BlackRock Credit Allocation Income Trust has a fifty-two week low of $9.70 and a fifty-two week high of $11.18.

BlackRock Credit Allocation Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.0839 per share. This represents a c) dividend on an annualized basis and a yield of 9.9%. The ex-dividend date is Tuesday, September 15th.

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.