BlackRock Credit Allocation Income Trust (NYSE:BTZ – Get Free Report) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 217,503 shares, a drop of 59.0% from the August 15th total of 530,235 shares. Based on an average daily trading volume, of 307,126 shares, the days-to-cover ratio is currently 0.7 days.
Hedge Funds Weigh In On BlackRock Credit Allocation Income Trust
Several institutional investors have recently made changes to their positions in BTZ. Sit Investment Associates Inc. grew its stake in shares of BlackRock Credit Allocation Income Trust by 8.3% in the 4th quarter. Sit Investment Associates Inc. now owns 6,430,309 shares of the investment management company’s stock valued at $69,640,000 after buying an additional 492,132 shares during the period. Bank of America Corp DE bought a new stake in BlackRock Credit Allocation Income Trust in the 2nd quarter valued at about $48,533,000. Northwestern Mutual Wealth Management Co. raised its stake in BlackRock Credit Allocation Income Trust by 1,891.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,513,798 shares of the investment management company’s stock worth $16,394,000 after buying an additional 1,437,794 shares during the period. UBS Group AG raised its stake in BlackRock Credit Allocation Income Trust by 0.4% during the 4th quarter. UBS Group AG now owns 671,245 shares of the investment management company’s stock worth $7,270,000 after buying an additional 2,425 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in 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 worth $6,234,000 after acquiring an additional 165,959 shares in the last quarter.
BlackRock Credit Allocation Income Trust Stock Performance
Shares of NYSE:BTZ traded down $0.06 during mid-day trading on Tuesday, hitting $9.62. The company had a trading volume of 1,050,288 shares, compared to its average volume of 304,190. BlackRock Credit Allocation Income Trust has a one year low of $9.54 and a one year high of $11.18. The firm has a fifty day moving average price of $10.10 and a 200 day moving average price of $10.16.
BlackRock Credit Allocation Income Trust Announces Dividend
BlackRock Credit Allocation Income Trust Company Profile
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.
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