BlackRock Credit Allocation Income Trust (NYSE:BTZ) Short Interest Up 96.8% in July

BlackRock Credit Allocation Income Trust (NYSE:BTZ) was the target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 257,357 shares, a growth of 96.8% from the July 15th total of 130,766 shares. Based on an average trading volume of 324,010 shares, the short-interest ratio is currently 0.8 days.

BlackRock Credit Allocation Income Trust Price Performance

BlackRock Credit Allocation Income Trust stock opened at $10.22 on Tuesday. The firm has a 50-day moving average price of $10.15 and a two-hundred day moving average price of $10.26. BlackRock Credit Allocation Income Trust has a 52-week low of $9.70 and a 52-week high of $11.18.

BlackRock Credit Allocation Income Trust Announces Dividend

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 issued a dividend of $0.0839 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date of this dividend is Tuesday, September 15th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada grew its position in BlackRock Credit Allocation Income Trust by 1.4% in the 1st quarter. Royal Bank of Canada now owns 889,121 shares of the investment management company’s stock valued at $9,531,000 after buying an additional 12,607 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of BlackRock Credit Allocation Income Trust by 56.9% in the 1st quarter. Jane Street Group LLC now owns 17,799 shares of the investment management company’s stock worth $191,000 after acquiring an additional 6,455 shares during the period. Franklin Resources Inc. acquired a new stake in shares of BlackRock Credit Allocation Income Trust in the 2nd quarter worth approximately $167,000. First Trust Advisors LP boosted its holdings in shares of BlackRock Credit Allocation Income Trust by 3.6% in the second quarter. First Trust Advisors LP now owns 88,168 shares of the investment management company’s stock valued at $963,000 after acquiring an additional 3,052 shares in the last quarter. Finally, Cresset Asset Management LLC bought a new position in shares of BlackRock Credit Allocation Income Trust in the second quarter valued at approximately $132,000.

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.