BlackRock Credit Allocation Income Trust (NYSE:BTZ) Stock Price Breaks Below 200 Day Moving Average – Here’s Why

BlackRock Credit Allocation Income Trust (NYSE:BTZ) shares crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $10.03 and traded as low as $9.40. BlackRock Credit Allocation Income Trust shares last traded at $9.4450, with a volume of 439,381 shares trading hands.

BlackRock Credit Allocation Income Trust Price Performance

The company’s 50 day moving average is $9.74 and its two-hundred day moving average is $10.03.

BlackRock Credit Allocation Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be issued a $0.0839 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $1.01 annualized dividend and a yield of 10.6%.

Institutional Trading of BlackRock Credit Allocation Income Trust

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE bought a new position in shares of BlackRock Credit Allocation Income Trust during the 2nd quarter worth about $48,533,000. Sowell Financial Services LLC boosted its position in shares of BlackRock Credit Allocation Income Trust by 6.0% during the 3rd quarter. Sowell Financial Services LLC now owns 806,939 shares of the investment management company’s stock valued at $7,513,000 after acquiring an additional 45,471 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of BlackRock Credit Allocation Income Trust by 36.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 617,201 shares of the investment management company’s stock valued at $6,234,000 after acquiring an additional 165,959 shares in the last quarter. Rareview Capital LLC boosted its position in shares of BlackRock Credit Allocation Income Trust by 14.2% during the 2nd quarter. Rareview Capital LLC now owns 420,186 shares of the investment management company’s stock valued at $4,588,000 after acquiring an additional 52,274 shares in the last quarter. Finally, D.A. Davidson & CO. increased its stake in BlackRock Credit Allocation Income Trust by 60.4% in the first quarter. D.A. Davidson & CO. now owns 382,991 shares of the investment management company’s stock valued at $3,868,000 after acquiring an additional 144,213 shares during the period.

BlackRock Credit Allocation Income Trust Company Profile

BlackRock Credit Allocation Income Trust (NYSE: BTZ) is a closed-end management investment company that seeks to provide current income and, to a lesser extent, capital appreciation. The trust invests primarily in a portfolio of credit-related securities and other income-producing investments.

Its holdings may include corporate bonds, senior loans, investment-grade and below-investment-grade debt securities, mortgage- and asset-backed securities, and other fixed-income instruments. The portfolio can include securities issued by U.S.