BlackRock Credit Allocation Income Trust (NYSE:BTZ) Sees Large Increase in Short Interest

BlackRock Credit Allocation Income Trust (NYSE:BTZ) saw a significant growth in short interest in February. As of February 27th, there was short interest totaling 33,262 shares, a growth of 27.9% from the February 12th total of 26,008 shares. Based on an average trading volume of 260,958 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 260,958 shares, the short-interest ratio is presently 0.1 days.

Institutional Trading of BlackRock Credit Allocation Income Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its holdings 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 acquiring an additional 1,437,794 shares during the last quarter. Bank of America Corp DE raised its position in BlackRock Credit Allocation Income Trust by 19.4% in the 2nd quarter. Bank of America Corp DE now owns 4,571,453 shares of the investment management company’s stock worth $49,920,000 after purchasing an additional 742,650 shares during the period. Sit Investment Associates Inc. lifted its stake in BlackRock Credit Allocation Income Trust by 8.3% in the fourth quarter. Sit Investment Associates Inc. now owns 6,430,309 shares of the investment management company’s stock worth $69,640,000 after purchasing an additional 492,132 shares during the last quarter. Emissary Wealth LLC purchased a new stake in BlackRock Credit Allocation Income Trust during the fourth quarter valued at about $2,863,000. Finally, Cary Street Partners Financial LLC purchased a new stake in BlackRock Credit Allocation Income Trust during the second quarter valued at about $1,829,000.

BlackRock Credit Allocation Income Trust Trading Down 0.7%

NYSE BTZ traded down $0.08 during trading hours on Friday, reaching $10.00. 303,428 shares of the stock traded hands, compared to its average volume of 323,566. The stock has a 50 day simple moving average of $10.62 and a two-hundred day simple moving average of $10.85. BlackRock Credit Allocation Income Trust has a 1 year low of $9.54 and a 1 year high of $11.18.

BlackRock Credit Allocation Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.0839 per share. This represents a c) dividend on an annualized basis and a dividend yield of 10.1%. The ex-dividend date of this dividend is Monday, June 15th.

BlackRock Credit Allocation Income Trust Company Profile

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.