BlackRock Credit Allocation Income Trust (NYSE:BTZ) Sees Significant Decline in Short Interest

BlackRock Credit Allocation Income Trust (NYSE:BTZ) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 38,731 shares, a decrease of 43.7% from the March 15th total of 68,766 shares. Based on an average daily volume of 428,475 shares, the days-to-cover ratio is currently 0.1 days.

BlackRock Credit Allocation Income Trust Stock Up 0.4%

Shares of BlackRock Credit Allocation Income Trust stock traded up $0.04 on Monday, reaching $10.43. 338,663 shares of the company traded hands, compared to its average volume of 337,665. BlackRock Credit Allocation Income Trust has a 52 week low of $9.70 and a 52 week high of $11.18. The company has a 50 day moving average of $10.36 and a 200 day moving average of $10.70.

BlackRock Credit Allocation Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.0839 dividend. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a yield of 9.7%.

Institutional Trading of BlackRock Credit Allocation Income Trust

A number of hedge funds have recently bought and sold shares of the company. Sit Investment Associates Inc. grew its position in BlackRock Credit Allocation Income Trust by 8.3% during the fourth quarter. Sit Investment Associates Inc. now owns 6,430,309 shares of the investment management company’s stock valued at $69,640,000 after acquiring an additional 492,132 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of 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 worth $54,191,000 after acquiring an additional 332,714 shares during the last quarter. Guggenheim Capital LLC raised its position in 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 stake in BlackRock Credit Allocation Income Trust by 2.5% in the third 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 last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in BlackRock Credit Allocation Income Trust by 1,891.7% in the fourth 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 last quarter.

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.