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

BlackRock Credit Allocation Income Trust (NYSE:BTZ) saw a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 73,400 shares, a decline of 31.0% from the February 13th total of 106,300 shares. Based on an average daily volume of 273,900 shares, the short-interest ratio is presently 0.3 days.

Institutional Trading of BlackRock Credit Allocation Income Trust

A number of large investors have recently added to or reduced their stakes in BTZ. Thrivent Financial for Lutherans lifted its stake in BlackRock Credit Allocation Income Trust by 1.3% in the third quarter. Thrivent Financial for Lutherans now owns 259,111 shares of the investment management company’s stock valued at $2,922,000 after purchasing an additional 3,353 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of BlackRock Credit Allocation Income Trust by 0.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 382,831 shares of the investment management company’s stock valued at $4,318,000 after buying an additional 3,160 shares during the last quarter. Horizon Kinetics Asset Management LLC lifted its position in shares of BlackRock Credit Allocation Income Trust by 25.6% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 51,023 shares of the investment management company’s stock valued at $576,000 after buying an additional 10,389 shares during the last quarter. Private Trust Co. NA grew its stake in shares of BlackRock Credit Allocation Income Trust by 10,004.8% during the 3rd quarter. Private Trust Co. NA now owns 75,180 shares of the investment management company’s stock worth $848,000 after acquiring an additional 74,436 shares during the period. Finally, Pin Oak Investment Advisors Inc. increased its holdings in BlackRock Credit Allocation Income Trust by 25.7% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 59,583 shares of the investment management company’s stock worth $672,000 after acquiring an additional 12,165 shares during the last quarter.

BlackRock Credit Allocation Income Trust Stock Performance

Shares of BlackRock Credit Allocation Income Trust stock traded down $0.01 during trading on Monday, hitting $10.56. The company’s stock had a trading volume of 344,143 shares, compared to its average volume of 253,585. BlackRock Credit Allocation Income Trust has a 52 week low of $9.92 and a 52 week high of $11.30. The stock has a 50-day moving average price of $10.71 and a two-hundred day moving average price of $10.84.

BlackRock Credit Allocation Income Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.0839 dividend. This is an increase from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07. This represents a $1.01 dividend on an annualized basis and a dividend yield of 9.54%. The ex-dividend date is Friday, March 14th.

About BlackRock Credit Allocation Income Trust

BlackRock Credit Allocation Income Trust is a closed ended balanced mutual fund launched by BlackRock, Inc The fund is co-managed by BlackRock Advisors, LLC and BlackRock (Singapore) Limited. It invests in the fixed income markets across the globe. For the fixed income portion of the portfolio, the fund primarily invests in securities with an average credit quality of BBB by Standard & Poor's Corporation.