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

BlackRock Credit Allocation Income Trust (NYSE:BTZ) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 85,500 shares, an increase of 138.2% from the October 31st total of 35,900 shares. Based on an average daily volume of 257,000 shares, the days-to-cover ratio is presently 0.3 days.

BlackRock Credit Allocation Income Trust Stock Up 0.1 %

Shares of BTZ stock opened at $10.98 on Friday. BlackRock Credit Allocation Income Trust has a 1 year low of $9.92 and a 1 year high of $11.30. The firm’s fifty day simple moving average is $10.98 and its 200 day simple moving average is $10.84.

BlackRock Credit Allocation Income Trust Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.0839 per share. The ex-dividend date was Friday, November 15th. This represents a $1.01 dividend on an annualized basis and a dividend yield of 9.17%. This is a positive change from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07.

Institutional Investors Weigh In On BlackRock Credit Allocation Income Trust

A number of institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of BlackRock Credit Allocation Income Trust by 1,018.1% during the 3rd quarter. International Assets Investment Management LLC now owns 382,636 shares of the investment management company’s stock worth $43,160,000 after purchasing an additional 348,414 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of BlackRock Credit Allocation Income Trust by 3.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,948,185 shares of the investment management company’s stock valued at $42,285,000 after buying an additional 140,726 shares in the last quarter. Private Trust Co. NA lifted its holdings in shares of BlackRock Credit Allocation Income Trust by 10,004.8% during the 3rd quarter. Private Trust Co. NA now owns 75,180 shares of the investment management company’s stock worth $848,000 after acquiring an additional 74,436 shares during the period. Capital Investment Advisors LLC boosted its position in shares of BlackRock Credit Allocation Income Trust by 5.2% during the 3rd quarter. Capital Investment Advisors LLC now owns 954,311 shares of the investment management company’s stock valued at $10,765,000 after acquiring an additional 47,124 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in BlackRock Credit Allocation Income Trust by 4.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 961,789 shares of the investment management company’s stock valued at $10,301,000 after acquiring an additional 41,322 shares during the period.

About BlackRock Credit Allocation Income Trust

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.