BlackRock Credit Allocation Income Trust (NYSE:BTZ) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lessened its stake in BlackRock Credit Allocation Income Trust (NYSE:BTZ) by 11.9% in the 3rd quarter, Holdings Channel reports. The firm owned 17,546 shares of the investment management company’s stock after selling 2,378 shares during the period. Peapack Gladstone Financial Corp’s holdings in BlackRock Credit Allocation Income Trust were worth $198,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BTZ. Eastern Bank purchased a new position in shares of BlackRock Credit Allocation Income Trust during the third quarter worth $64,000. Cetera Advisors LLC purchased a new position in BlackRock Credit Allocation Income Trust during the 1st quarter valued at about $146,000. Creekside Partners acquired a new position in BlackRock Credit Allocation Income Trust in the 2nd quarter valued at about $156,000. Sanctuary Advisors LLC purchased a new stake in BlackRock Credit Allocation Income Trust during the second quarter worth about $241,000. Finally, Valley Brook Capital Group Inc. boosted its stake in shares of BlackRock Credit Allocation Income Trust by 7.7% in the third quarter. Valley Brook Capital Group Inc. now owns 21,946 shares of the investment management company’s stock valued at $248,000 after purchasing an additional 1,570 shares during the period.

BlackRock Credit Allocation Income Trust Stock Performance

Shares of BTZ stock opened at $10.82 on Tuesday. BlackRock Credit Allocation Income Trust has a fifty-two week low of $9.92 and a fifty-two week high of $11.30. The company has a 50 day moving average price of $10.93 and a 200 day moving average price of $10.89.

BlackRock Credit Allocation Income Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Monday, December 16th will be paid a $0.0839 dividend. This is a boost from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07. This represents a $1.01 annualized dividend and a dividend yield of 9.30%. The ex-dividend date of this dividend is Monday, December 16th.

BlackRock Credit Allocation Income Trust Company 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.