BlackRock Credit Allocation Income Trust (NYSE:BTZ) Stock Short Interest Climbs 242.0%

BlackRock Credit Allocation Income Trust (NYSE:BTZ) saw a significant growth in short interest in October. As of October 15th, there was short interest totaling 251,994 shares, a growth of 242.0% from the September 30th total of 73,673 shares. Based on an average trading volume of 392,438 shares, the short-interest ratio is currently 0.6 days.

Hedge Funds Weigh In On BlackRock Credit Allocation Income Trust

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new stake in BlackRock Credit Allocation Income Trust in the 2nd quarter worth approximately $48,533,000. D.A. Davidson & CO. grew its holdings in shares of BlackRock Credit Allocation Income Trust by 57.6% in the third quarter. D.A. Davidson & CO. now owns 769,384 shares of the investment management company’s stock valued at $7,163,000 after purchasing an additional 281,163 shares in the last quarter. Rareview Capital LLC grew its holdings in shares of 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 purchasing an additional 225,471 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of BlackRock Credit Allocation Income Trust by 36.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 617,201 shares of the investment management company’s stock valued at $6,234,000 after purchasing an additional 165,959 shares in the last quarter. Finally, Readystate Asset Management LP bought a new stake in BlackRock Credit Allocation Income Trust in the first quarter worth $1,016,000.

BlackRock Credit Allocation Income Trust Stock Up 0.1%

Shares of BTZ traded up $0.01 during midday trading on Wednesday, hitting $9.50. 406,436 shares of the company traded hands, compared to its average volume of 329,275. The firm has a 50 day moving average of $9.65 and a 200-day moving average of $10.13. BlackRock Credit Allocation Income Trust has a 52 week low of $9.25 and a 52 week 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, December 22nd. Stockholders of record on Friday, December 11th will be issued a $0.0839 dividend. This represents a $1.01 annualized dividend and a dividend yield of 10.6%. The ex-dividend date of this dividend is Friday, December 11th.

About BlackRock Credit Allocation Income Trust

BlackRock Credit Allocation Income Trust (NYSE: BTZ) is a closed-end management investment company that seeks to provide current income and, to a lesser extent, capital appreciation. The trust invests primarily in a portfolio of credit-related securities and other income-producing investments.

Its holdings may include corporate bonds, senior loans, investment-grade and below-investment-grade debt securities, mortgage- and asset-backed securities, and other fixed-income instruments. The portfolio can include securities issued by U.S.