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

BlackRock Credit Allocation Income Trust (NYSE:BTZ) was the recipient of a large 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 currently 1.6 days.

Institutional Investors Weigh In On BlackRock Credit Allocation Income Trust

Several hedge funds and other institutional investors have recently bought and sold shares of BTZ. Fifth Third Bancorp acquired a new position in shares of BlackRock Credit Allocation Income Trust in the 1st quarter worth approximately $34,000. Comerica Bank boosted its holdings in BlackRock Credit Allocation Income Trust by 136.5% during the third 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 in the last quarter. Advisory Services Network LLC bought a new stake in BlackRock Credit Allocation Income Trust during the third quarter worth approximately $103,000. Equitable Holdings Inc. acquired a new position in BlackRock Credit Allocation Income Trust in the third quarter worth approximately $113,000. Finally, Stephens Inc. AR bought a new position in shares of BlackRock Credit Allocation Income Trust in the first quarter valued at $106,000.

BlackRock Credit Allocation Income Trust Stock Performance

Shares of BTZ opened at $10.14 on Monday. BlackRock Credit Allocation Income Trust has a 52-week low of $9.70 and a 52-week high of $11.18. The firm has a 50-day moving average price of $10.16 and a 200 day moving average price of $10.23.

BlackRock Credit Allocation Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders 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.