Pin Oak Investment Advisors Inc. Acquires New Holdings in BlackRock Credit Allocation Income Trust $BTZ

Pin Oak Investment Advisors Inc. bought a new position in BlackRock Credit Allocation Income Trust (NYSE:BTZ) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 49,680 shares of the investment management company’s stock, valued at approximately $508,000.

Other hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in shares of BlackRock Credit Allocation Income Trust by 1.4% in the first quarter. Royal Bank of Canada now owns 889,121 shares of the investment management company’s stock worth $9,531,000 after acquiring an additional 12,607 shares during the period. Jane Street Group LLC boosted its position in BlackRock Credit Allocation Income Trust by 56.9% in the first quarter. Jane Street Group LLC now owns 17,799 shares of the investment management company’s stock worth $191,000 after purchasing an additional 6,455 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of BlackRock Credit Allocation Income Trust during the 2nd quarter valued at about $167,000. First Trust Advisors LP grew its stake in shares of BlackRock Credit Allocation Income Trust by 3.6% during the 2nd quarter. First Trust Advisors LP now owns 88,168 shares of the investment management company’s stock valued at $963,000 after purchasing an additional 3,052 shares during the period. Finally, Cresset Asset Management LLC purchased a new stake in shares of BlackRock Credit Allocation Income Trust during the 2nd quarter valued at about $132,000.

BlackRock Credit Allocation Income Trust Price Performance

BTZ opened at $10.14 on Friday. The company’s 50 day moving average is $10.16 and its 200 day moving average is $10.23. BlackRock Credit Allocation Income Trust has a 12-month low of $9.70 and a 12-month high of $11.18.

BlackRock Credit Allocation Income Trust Dividend Announcement

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

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.