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

BlackRock Credit Allocation Income Trust (NYSE:BTZ) was the target of a significant growth in short interest in August. As of August 14th, there was short interest totaling 530,235 shares, a growth of 106.0% from the July 30th total of 257,357 shares. Based on an average trading volume of 329,757 shares, the short-interest ratio is presently 1.6 days.

BlackRock Credit Allocation Income Trust Trading Down 0.2%

Shares of BlackRock Credit Allocation Income Trust stock opened at $10.14 on Friday. BlackRock Credit Allocation Income Trust has a twelve month low of $9.70 and a twelve month high of $11.18. The company has a 50-day simple moving average of $10.16 and a two-hundred day simple moving average of $10.23.

BlackRock Credit Allocation Income Trust Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 9.9%.

Institutional Investors Weigh In On BlackRock Credit Allocation Income Trust

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