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

BlackRock Credit Allocation Income Trust (NYSE:BTZ) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 31,100 shares, a growth of 15.6% from the September 15th total of 26,900 shares. Based on an average daily volume of 276,200 shares, the short-interest ratio is currently 0.1 days.

Institutional Trading of BlackRock Credit Allocation Income Trust

Several institutional investors have recently added to or reduced their stakes in BTZ. Allspring Global Investments Holdings LLC boosted its position in BlackRock Credit Allocation Income Trust by 3.7% during the second 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 acquiring an additional 140,726 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of BlackRock Credit Allocation Income Trust in the 1st quarter valued at about $128,000. Creekside Partners bought a new stake in shares of BlackRock Credit Allocation Income Trust during the 2nd quarter valued at about $156,000. Raymond James Financial Services Advisors Inc. grew its stake in BlackRock Credit Allocation Income Trust by 4.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 961,789 shares of the investment management company’s stock worth $10,301,000 after purchasing an additional 41,322 shares during the period. Finally, Commonwealth Equity Services LLC grew its stake in BlackRock Credit Allocation Income Trust by 7.1% during the second quarter. Commonwealth Equity Services LLC now owns 32,989 shares of the investment management company’s stock worth $353,000 after purchasing an additional 2,200 shares during the period.

BlackRock Credit Allocation Income Trust Stock Up 0.4 %

NYSE:BTZ traded up $0.04 during trading hours on Wednesday, hitting $11.15. 329,228 shares of the company were exchanged, compared to its average volume of 255,853. BlackRock Credit Allocation Income Trust has a one year low of $9.10 and a one year high of $11.30. The company has a fifty day simple moving average of $11.08 and a 200 day simple moving average of $10.72.

BlackRock Credit Allocation Income Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.0839 per share. This represents a $1.01 dividend on an annualized basis and a dividend yield of 9.03%. This is an increase from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07. The ex-dividend date is Tuesday, October 15th.

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.