BlackRock Credit Allocation Income Trust (NYSE:BTZ) Stock Short Interest Climbs 242.0%

BlackRock Credit Allocation Income Trust (NYSE:BTZ) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totaling 251,994 shares, an increase of 242.0% from the September 30th total of 73,673 shares. Based on an average daily trading volume, of 392,438 shares, the days-to-cover ratio is currently 0.6 days.

Hedge Funds Weigh In On BlackRock Credit Allocation Income Trust

Hedge funds have recently modified their holdings of the company. Ibex Wealth Advisors lifted its stake in shares of BlackRock Credit Allocation Income Trust by 0.9% during the 1st quarter. Ibex Wealth Advisors now owns 108,640 shares of the investment management company’s stock valued at $1,097,000 after buying an additional 992 shares in the last quarter. Fifth Third Bancorp bought a new stake in BlackRock Credit Allocation Income Trust during the first quarter valued at about $34,000. Waterfront Wealth Inc. raised its holdings in BlackRock Credit Allocation Income Trust by 4.0% during the first quarter. Waterfront Wealth Inc. now owns 116,422 shares of the investment management company’s stock valued at $1,176,000 after acquiring an additional 4,510 shares during the period. Stephens Inc. AR bought a new stake in BlackRock Credit Allocation Income Trust during the first quarter valued at about $106,000. Finally, First Bank & Trust purchased a new position in shares of BlackRock Credit Allocation Income Trust in the third quarter valued at about $109,000.

BlackRock Credit Allocation Income Trust Trading Up 0.1%

Shares of NYSE:BTZ traded up $0.01 during mid-day trading on Wednesday, reaching $9.50. 406,436 shares of the company traded hands, compared to its average volume of 329,275. The company’s 50 day moving average price is $9.65 and its 200-day moving average price is $10.13. BlackRock Credit Allocation Income Trust has a 52 week low of $9.25 and a 52 week high of $11.18.

BlackRock Credit Allocation Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be issued a dividend of $0.0839 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a $1.01 annualized dividend and a yield of 10.6%.

About BlackRock Credit Allocation Income Trust

BlackRock Credit Allocation Income Trust (NYSE: BTZ) is a closed-end management investment company that seeks to provide current income and, to a lesser extent, capital appreciation. The trust invests primarily in a portfolio of credit-related securities and other income-producing investments.

Its holdings may include corporate bonds, senior loans, investment-grade and below-investment-grade debt securities, mortgage- and asset-backed securities, and other fixed-income instruments. The portfolio can include securities issued by U.S.