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

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

Institutional Investors Weigh In On BlackRock Credit Allocation Income Trust

Large investors have recently modified their holdings of the business. Northstar Financial Companies Inc. bought a new stake in shares of BlackRock Credit Allocation Income Trust during the 4th quarter worth $153,000. Parr Mcknight Wealth Management Group LLC bought a new position in shares of BlackRock Credit Allocation Income Trust in the fourth quarter worth about $591,000. Elequin Capital LP bought a new position in shares of BlackRock Credit Allocation Income Trust in the fourth quarter worth about $184,000. Waverly Advisors LLC bought a new position in BlackRock Credit Allocation Income Trust in the 4th quarter valued at approximately $247,000. Finally, Focus Partners Wealth boosted its position in BlackRock Credit Allocation Income Trust by 102.1% in the fourth quarter. Focus Partners Wealth now owns 79,688 shares of the investment management company’s stock valued at $834,000 after buying an additional 40,262 shares in the last quarter.

BlackRock Credit Allocation Income Trust Stock Performance

Shares of BlackRock Credit Allocation Income Trust stock traded down $0.01 on Monday, reaching $10.56. 344,143 shares of the stock were exchanged, compared to its average volume of 253,585. The firm’s 50 day moving average is $10.71 and its 200-day moving average is $10.84. BlackRock Credit Allocation Income Trust has a one year low of $9.92 and a one year high of $11.30.

BlackRock Credit Allocation Income Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.0839 per share. The ex-dividend date is Friday, March 14th. This is a boost from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07. This represents a $1.01 annualized dividend and a yield of 9.54%.

BlackRock Credit Allocation Income Trust Company Profile

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.