Short Interest in BlackRock Credit Allocation Income Trust (NYSE:BTZ) Declines By 61.6%

Posted by Defense World Staff on Apr 27th, 2023

BlackRock Credit Allocation Income Trust (NYSE:BTZ – Get Rating) saw a large decline in short interest in April. As of April 15th, there was short interest totalling 7,300 shares, a decline of 61.6% from the March 31st total of 19,000 shares. Based on an average trading volume of 274,200 shares, the short-interest ratio is currently 0.0 days.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Sit Investment Associates Inc. raised its position in BlackRock Credit Allocation Income Trust by 9.1% during the 4th quarter. Sit Investment Associates Inc. now owns 5,207,917 shares of the investment management company’s stock worth $52,600,000 after buying an additional 433,193 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of BlackRock Credit Allocation Income Trust by 4.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,285,140 shares of the investment management company’s stock worth $23,514,000 after acquiring an additional 106,121 shares during the last quarter. UBS Group AG raised its holdings in BlackRock Credit Allocation Income Trust by 39.5% in the third quarter. UBS Group AG now owns 1,147,833 shares of the investment management company’s stock valued at $10,950,000 after buying an additional 324,747 shares during the period. Penserra Capital Management LLC raised its stake in shares of BlackRock Credit Allocation Income Trust by 9.9% during the fourth quarter. Penserra Capital Management LLC now owns 958,712 shares of the investment management company’s stock valued at $9,682,000 after purchasing an additional 86,159 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its position in shares of BlackRock Credit Allocation Income Trust by 60.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 801,977 shares of the investment management company’s stock worth $8,252,000 after buying an additional 301,657 shares in the last quarter.

BlackRock Credit Allocation Income Trust Stock Performance

Shares of BlackRock Credit Allocation Income Trust stock opened at $10.38 on Thursday. The company has a fifty day simple moving average of $10.39 and a 200-day simple moving average of $10.42. BlackRock Credit Allocation Income Trust has a 12-month low of $9.27 and a 12-month high of $11.81.

BlackRock Credit Allocation Income Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 14th will be issued a $0.084 dividend. This represents a $1.01 annualized dividend and a dividend yield of 9.71%. The ex-dividend date of this dividend is Thursday, April 13th.

About BlackRock Credit Allocation Income Trust

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BlackRock Credit Allocation Income Trust is a non-diversified, closed-end management investment company. Its investment objective is to provide current income, current gains and capital appreciation through investing in credit-related securities, including, but not limited to, investment grade corporate bonds, high yield bonds, bank loans, preferred securities or convertible bonds or derivatives with economic characteristics similar to these credit-related securities.