Short Interest in BlackRock Credit Allocation Income Trust (NYSE:BTZ) Expands By 106.7%

BlackRock Credit Allocation Income Trust (NYSE:BTZ) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 68,766 shares, a growth of 106.7% from the February 26th total of 33,262 shares. Based on an average trading volume of 427,584 shares, the days-to-cover ratio is presently 0.2 days.

BlackRock Credit Allocation Income Trust Price Performance

NYSE BTZ traded down $0.17 on Thursday, reaching $9.84. The company had a trading volume of 376,944 shares, compared to its average volume of 329,619. The company’s fifty day moving average is $10.50 and its 200-day moving average is $10.79. BlackRock Credit Allocation Income Trust has a 1-year low of $9.54 and a 1-year high of $11.18.

BlackRock Credit Allocation Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.0839 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 10.2%. The ex-dividend date is Monday, June 15th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Comerica Bank grew its holdings in shares of BlackRock Credit Allocation Income Trust by 136.5% during the third quarter. Comerica Bank now owns 4,063 shares of the investment management company’s stock worth $45,000 after buying an additional 2,345 shares in the last quarter. Caitlin John LLC acquired a new position in BlackRock Credit Allocation Income Trust during the 3rd quarter worth approximately $59,000. Newbridge Financial Services Group Inc. acquired a new position in BlackRock Credit Allocation Income Trust during the 2nd quarter worth approximately $86,000. Advisory Services Network LLC bought a new position in shares of BlackRock Credit Allocation Income Trust during the 3rd quarter worth approximately $103,000. Finally, Equitable Holdings Inc. acquired a new stake in shares of BlackRock Credit Allocation Income Trust in the third quarter valued at approximately $113,000.

About BlackRock Credit Allocation Income Trust

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.