Blackrock Credit Allocation Income Trust (NYSE:BTZ) Short Interest Down 78.4% in March

Blackrock Credit Allocation Income Trust (NYSE:BTZ) was the target of a large decline in short interest in March. As of March 13th, there was short interest totalling 35,600 shares, a decline of 78.4% from the February 27th total of 165,000 shares. Based on an average daily volume of 476,900 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company’s stock are short sold.

A number of hedge funds have recently made changes to their positions in the business. Belpointe Asset Management LLC bought a new stake in Blackrock Credit Allocation Income Trust during the 4th quarter valued at $115,000. Advisors Asset Management Inc. increased its stake in Blackrock Credit Allocation Income Trust by 3.3% during the 4th quarter. Advisors Asset Management Inc. now owns 65,746 shares of the investment management company’s stock valued at $919,000 after purchasing an additional 2,071 shares in the last quarter. Bank of America Corp DE increased its stake in Blackrock Credit Allocation Income Trust by 2.7% during the 4th quarter. Bank of America Corp DE now owns 4,910,742 shares of the investment management company’s stock valued at $68,653,000 after purchasing an additional 129,927 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in Blackrock Credit Allocation Income Trust during the 4th quarter valued at $300,000. Finally, Penserra Capital Management LLC bought a new stake in Blackrock Credit Allocation Income Trust during the 4th quarter valued at $3,419,000.

BTZ stock traded up $0.57 during midday trading on Thursday, reaching $11.54. 884,703 shares of the company’s stock traded hands, compared to its average volume of 611,114. The firm’s fifty day moving average price is $13.35 and its 200-day moving average price is $13.67. Blackrock Credit Allocation Income Trust has a 52 week low of $9.12 and a 52 week high of $14.91.

The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a dividend of $0.084 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.01 dividend on an annualized basis and a yield of 8.73%.

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.

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