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

BlackRock Credit Allocation Income Trust (NYSE:BTZ) saw a large decrease in short interest in 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 trading volume, of 428,475 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On BlackRock Credit Allocation Income Trust

A number of hedge funds have recently bought and sold shares of the stock. MRA Advisory Group grew its stake in BlackRock Credit Allocation Income Trust by 8.9% during the 3rd quarter. MRA Advisory Group now owns 12,806 shares of the investment management company’s stock worth $142,000 after buying an additional 1,044 shares during the last quarter. NewEdge Advisors LLC grew its stake in BlackRock Credit Allocation Income Trust by 3.8% during the 3rd quarter. NewEdge Advisors LLC now owns 29,885 shares of the investment management company’s stock worth $330,000 after buying an additional 1,100 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in BlackRock Credit Allocation Income Trust by 4.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 27,600 shares of the investment management company’s stock worth $299,000 after buying an additional 1,102 shares during the last quarter. Elevation Point Wealth Partners LLC grew its stake in BlackRock Credit Allocation Income Trust by 1.7% during the 4th quarter. Elevation Point Wealth Partners LLC now owns 81,558 shares of the investment management company’s stock worth $883,000 after buying an additional 1,332 shares during the last quarter. Finally, Ibex Wealth Advisors grew its stake in BlackRock Credit Allocation Income Trust by 1.2% during the 3rd quarter. Ibex Wealth Advisors now owns 116,103 shares of the investment management company’s stock worth $1,283,000 after buying an additional 1,351 shares during the last quarter.

BlackRock Credit Allocation Income Trust Price Performance

BTZ traded down $0.07 during mid-day trading on Wednesday, hitting $10.44. 489,432 shares of the stock were exchanged, compared to its average volume of 338,512. The firm’s fifty day moving average is $10.35 and its two-hundred day moving average is $10.69. 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 Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.0839 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 9.6%.

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.