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

BlackRock Credit Allocation Income Trust (NYSE:BTZ) was the recipient of a large growth in short interest in 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 daily trading volume, of 324,010 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Trading of BlackRock Credit Allocation Income Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE acquired a new position in shares of BlackRock Credit Allocation Income Trust in the 2nd quarter valued at about $48,533,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of BlackRock Credit Allocation Income Trust by 1,891.7% during 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 purchasing an additional 1,437,794 shares in the last quarter. Sit Investment Associates Inc. grew its stake 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 worth $69,640,000 after purchasing an additional 492,132 shares during the period. Emissary Wealth LLC bought a new stake in BlackRock Credit Allocation Income Trust in the fourth quarter worth approximately $2,863,000. Finally, Rareview Capital LLC increased its holdings 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 worth $4,018,000 after purchasing an additional 225,471 shares in the last quarter.

BlackRock Credit Allocation Income Trust Stock Performance

Shares of BTZ stock remained flat at $10.22 on Monday. The stock had a trading volume of 304,896 shares, compared to its average volume of 302,113. The company’s fifty day moving average price is $10.14 and its 200-day moving average price is $10.26. BlackRock Credit Allocation Income Trust has a 12 month low of $9.70 and a 12 month high of $11.18.

BlackRock Credit Allocation Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.0839 dividend. 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.

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.