Short Interest in BlackRock Credit Allocation Income Trust (NYSE:BTZ) Expands By 106.7%

BlackRock Credit Allocation Income Trust (NYSE:BTZ) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 68,766 shares, a growth of 106.7% from the February 26th total of 33,262 shares. Based on an average daily trading volume, of 427,584 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On BlackRock Credit Allocation Income Trust

Several institutional investors and hedge funds have recently made changes to their positions in the company. Comerica Bank raised its stake in BlackRock Credit Allocation Income Trust by 136.5% during the 3rd quarter. Comerica Bank now owns 4,063 shares of the investment management company’s stock worth $45,000 after buying an additional 2,345 shares during the period. Caitlin John LLC bought a new position in BlackRock Credit Allocation Income Trust during the third quarter worth about $59,000. Newbridge Financial Services Group Inc. acquired a new position in BlackRock Credit Allocation Income Trust in the second quarter valued at about $86,000. Advisory Services Network LLC bought a new stake in shares of BlackRock Credit Allocation Income Trust in the third quarter worth about $103,000. Finally, Equitable Holdings Inc. bought a new stake in shares of BlackRock Credit Allocation Income Trust in the third quarter worth about $113,000.

BlackRock Credit Allocation Income Trust Stock Performance

Shares of NYSE:BTZ traded down $0.17 during mid-day trading on Thursday, reaching $9.84. The stock had a trading volume of 376,944 shares, compared to its average volume of 329,619. The firm has a 50 day simple moving average of $10.50 and a two-hundred day simple moving average of $10.79. BlackRock Credit Allocation Income Trust has a twelve month low of $9.54 and a twelve month high of $11.18.

BlackRock Credit Allocation Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.0839 dividend. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a yield of 10.2%.

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.