Rivernorth Capital Management LLC Decreases Stock Position in Blackrock Credit Allocation Income Trust (NYSE:BTZ)

Rivernorth Capital Management LLC lowered its stake in Blackrock Credit Allocation Income Trust (NYSE:BTZ) by 8.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,691,270 shares of the investment management company’s stock after selling 252,253 shares during the quarter. Blackrock Credit Allocation Income Trust comprises approximately 1.5% of Rivernorth Capital Management LLC’s holdings, making the stock its 15th largest holding. Rivernorth Capital Management LLC’s holdings in Blackrock Credit Allocation Income Trust were worth $34,906,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in BTZ. Trustcore Financial Services LLC purchased a new stake in Blackrock Credit Allocation Income Trust in the 2nd quarter worth $28,000. Coastal Investment Advisors Inc. bought a new stake in shares of Blackrock Credit Allocation Income Trust in the 2nd quarter worth about $32,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Blackrock Credit Allocation Income Trust in the 2nd quarter worth about $110,000. Rockefeller Capital Management L.P. increased its holdings in shares of Blackrock Credit Allocation Income Trust by 63.5% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 8,741 shares of the investment management company’s stock worth $114,000 after buying an additional 3,396 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Blackrock Credit Allocation Income Trust by 17.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,600 shares of the investment management company’s stock worth $176,000 after buying an additional 2,000 shares during the last quarter.

Shares of Blackrock Credit Allocation Income Trust stock traded up $0.01 during trading hours on Friday, reaching $13.60. The company’s stock had a trading volume of 3,623 shares, compared to its average volume of 275,058. The firm has a 50 day moving average price of $13.59 and a 200-day moving average price of $12.91. Blackrock Credit Allocation Income Trust has a one year low of $11.06 and a one year high of $13.91.

The firm also recently announced a monthly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.067 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.91%.

Blackrock Credit Allocation Income Trust Profile

BlackRock Credit Allocation Income Trust is a closed ended balanced mutual fund launched by BlackRock, Inc The fund is co-managed by BlackRock Advisors, LLC and BlackRock (Singapore) Limited. It invests in the fixed income markets across the globe. For the fixed income portion of the portfolio, the fund primarily invests in securities with an average credit quality of BBB by Standard & Poor's Corporation.

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Institutional Ownership by Quarter for Blackrock Credit Allocation Income Trust (NYSE:BTZ)

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