BlackRock Credit Allocation Income Trust (NYSE:BTZ) Short Interest Up 219.2% in July

BlackRock Credit Allocation Income Trust (NYSE:BTZ) was the target of a large growth in short interest in July. As of July 15th, there was short interest totaling 130,766 shares, a growth of 219.2% from the June 30th total of 40,961 shares. Based on an average daily volume of 228,661 shares, the days-to-cover ratio is currently 0.6 days.

BlackRock Credit Allocation Income Trust Stock Down 0.2%

NYSE BTZ traded down $0.01 during trading on Friday, reaching $9.96. 317,048 shares of the company’s stock were exchanged, compared to its average volume of 303,670. The company has a 50 day moving average price of $10.14 and a two-hundred day moving average price of $10.32. BlackRock Credit Allocation Income Trust has a 1 year low of $9.70 and a 1 year high of $11.18.

BlackRock Credit Allocation Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.0839 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 10.1%.

Hedge Funds Weigh In On BlackRock Credit Allocation Income Trust

Several hedge funds have recently added to or reduced their stakes in BTZ. Northwestern Mutual Wealth Management Co. boosted 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 valued at $16,394,000 after buying an additional 1,437,794 shares in the last quarter. Bank of America Corp DE raised its stake in BlackRock Credit Allocation Income Trust by 19.4% during 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 acquiring an additional 742,650 shares in the last quarter. Sit Investment Associates Inc. lifted its position 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 valued at $69,640,000 after acquiring an additional 492,132 shares during the last quarter. Emissary Wealth LLC purchased a new stake in BlackRock Credit Allocation Income Trust in the fourth quarter valued at $2,863,000. Finally, Rareview Capital LLC lifted its position in BlackRock Credit Allocation Income Trust by 158.3% in the first quarter. Rareview Capital LLC now owns 367,912 shares of the investment management company’s stock valued at $4,018,000 after acquiring an additional 225,471 shares during the last quarter.

About BlackRock Credit Allocation Income Trust

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.