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

BlackRock Credit Allocation Income Trust (NYSE:BTZ) was the target of a significant decline in short interest in the month of January. As of January 15th, there was short interest totaling 57,110 shares, a decline of 26.0% from the December 31st total of 77,224 shares. Based on an average daily trading volume, of 301,504 shares, the short-interest ratio is presently 0.2 days. Based on an average daily trading volume, of 301,504 shares, the short-interest ratio is presently 0.2 days.

BlackRock Credit Allocation Income Trust Stock Performance

BTZ traded up $0.01 on Friday, reaching $10.64. 294,996 shares of the stock were exchanged, compared to its average volume of 329,845. BlackRock Credit Allocation Income Trust has a fifty-two week low of $9.54 and a fifty-two week high of $11.18. The company’s 50-day moving average price is $10.77 and its 200 day moving average price is $10.93.

BlackRock Credit Allocation Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a $0.0839 dividend. This represents a c) annualized dividend and a yield of 9.5%. The ex-dividend date of this dividend is Friday, March 13th.

Institutional Trading of BlackRock Credit Allocation Income Trust

A number of hedge funds have recently added to or reduced their stakes in the company. Elm3 Financial Group LLC grew its holdings in shares of BlackRock Credit Allocation Income Trust by 8.1% in the second quarter. Elm3 Financial Group LLC now owns 13,400 shares of the investment management company’s stock valued at $146,000 after purchasing an additional 1,000 shares during the period. MRA Advisory Group raised its position in BlackRock Credit Allocation Income Trust by 8.9% in the 3rd quarter. MRA Advisory Group now owns 12,806 shares of the investment management company’s stock valued at $142,000 after purchasing an additional 1,044 shares in the last quarter. NewEdge Advisors LLC lifted its stake in BlackRock Credit Allocation Income Trust by 3.8% in the third quarter. NewEdge Advisors LLC now owns 29,885 shares of the investment management company’s stock worth $330,000 after acquiring an additional 1,100 shares during the last quarter. Ibex Wealth Advisors raised its holdings in shares of BlackRock Credit Allocation Income Trust by 1.1% in the 2nd quarter. Ibex Wealth Advisors now owns 114,752 shares of the investment management company’s stock valued at $1,253,000 after purchasing an additional 1,196 shares in the last quarter. Finally, Alteri Wealth LLC raised its stake in BlackRock Credit Allocation Income Trust by 3.4% in the third quarter. Alteri Wealth LLC now owns 49,844 shares of the investment management company’s stock valued at $551,000 after buying an additional 1,628 shares in the last quarter.

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.