BlackRock Credit Allocation Income Trust (NYSE:BTZ) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

BlackRock Credit Allocation Income Trust (NYSE:BTZ) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.49 and traded as low as $10.06. BlackRock Credit Allocation Income Trust shares last traded at $10.09, with a volume of 321,104 shares trading hands.

BlackRock Credit Allocation Income Trust Stock Down 0.3%

The business’s fifty day moving average price is $10.20 and its two-hundred day moving average price is $10.49.

Hedge Funds Weigh In On BlackRock Credit Allocation Income Trust

Several hedge funds have recently added to or reduced their stakes in the company. Sit Investment Associates Inc. grew its holdings in BlackRock Credit Allocation Income Trust by 8.3% during the 4th quarter. Sit Investment Associates Inc. now owns 6,430,309 shares of the investment management company’s stock valued at $69,640,000 after purchasing an additional 492,132 shares during the last quarter. Bank of America Corp DE boosted its position in BlackRock Credit Allocation Income Trust by 7.3% in the 3rd quarter. Bank of America Corp DE now owns 4,904,167 shares of the investment management company’s stock valued at $54,191,000 after buying an additional 332,714 shares during the period. Guggenheim Capital LLC lifted its position in shares of BlackRock Credit Allocation Income Trust by 4.3% in the 4th quarter. Guggenheim Capital LLC now owns 1,989,430 shares of the investment management company’s stock worth $21,546,000 after purchasing an additional 82,506 shares during the period. Raymond James Financial Inc. lifted its position in shares of BlackRock Credit Allocation Income Trust by 2.5% in the 3rd quarter. Raymond James Financial Inc. now owns 1,520,686 shares of the investment management company’s stock worth $16,804,000 after purchasing an additional 36,757 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of BlackRock Credit Allocation Income Trust by 1,891.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,513,798 shares of the investment management company’s stock worth $16,394,000 after purchasing an additional 1,437,794 shares during the period.

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.