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

BlackRock Credit Allocation Income Trust (NYSE:BTZGet Rating) saw a large drop in short interest during the month of April. As of April 30th, there was short interest totalling 32,300 shares, a drop of 56.4% from the April 15th total of 74,100 shares. Based on an average trading volume of 343,400 shares, the short-interest ratio is currently 0.1 days.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC acquired a new stake in BlackRock Credit Allocation Income Trust during the third quarter valued at $12,699,000. Allspring Global Investments Holdings LLC purchased a new position in shares of BlackRock Credit Allocation Income Trust during the 4th quarter valued at approximately $11,513,000. Spectrum Asset Management Inc. purchased a new stake in BlackRock Credit Allocation Income Trust in the 1st quarter worth $9,083,000. Guggenheim Capital LLC raised its position in BlackRock Credit Allocation Income Trust by 28.6% during the fourth quarter. Guggenheim Capital LLC now owns 1,277,445 shares of the investment management company’s stock worth $19,225,000 after acquiring an additional 284,364 shares during the period. Finally, Sit Investment Associates Inc. lifted its holdings in BlackRock Credit Allocation Income Trust by 5.6% during the third quarter. Sit Investment Associates Inc. now owns 4,906,031 shares of the investment management company’s stock valued at $74,326,000 after purchasing an additional 259,016 shares in the last quarter.

Shares of NYSE:BTZ traded down $0.02 during trading on Friday, hitting $11.07. The stock had a trading volume of 184,376 shares, compared to its average volume of 346,773. The stock has a 50-day simple moving average of $12.03 and a two-hundred day simple moving average of $13.53. BlackRock Credit Allocation Income Trust has a 12-month low of $11.05 and a 12-month high of $15.95.

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Monday, May 16th will be issued a $0.084 dividend. This represents a $1.01 annualized dividend and a dividend yield of 9.11%. The ex-dividend date of this dividend is Friday, May 13th.

BlackRock Credit Allocation Income Trust Company Profile (Get Rating)

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.

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