BlackRock Credit Allocation Income Trust (NYSE:BTZ) Sees Significant Drop in Short Interest

BlackRock Credit Allocation Income Trust (NYSE:BTZ) saw a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 35,900 shares, a decline of 10.0% from the October 15th total of 39,900 shares. Based on an average daily trading volume, of 250,000 shares, the days-to-cover ratio is currently 0.1 days.

BlackRock Credit Allocation Income Trust Trading Up 0.5 %

BTZ traded up $0.05 during trading on Tuesday, hitting $10.70. 235,966 shares of the stock traded hands, compared to its average volume of 256,917. The firm has a 50-day moving average of $11.02 and a 200 day moving average of $10.82. BlackRock Credit Allocation Income Trust has a 12-month low of $9.75 and a 12-month high of $11.30.

BlackRock Credit Allocation Income Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.0839 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.01 annualized dividend and a yield of 9.41%. This is a boost 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 large investors have recently made changes to their positions in BTZ. Atticus Wealth Management LLC boosted its holdings in BlackRock Credit Allocation Income Trust by 196.4% in the second quarter. Atticus Wealth Management LLC now owns 2,964 shares of the investment management company’s stock valued at $32,000 after acquiring an additional 1,964 shares in the last quarter. Eastern Bank bought a new stake in shares of BlackRock Credit Allocation Income Trust during the 3rd quarter valued at about $64,000. Patten & Patten Inc. TN purchased a new position in shares of BlackRock Credit Allocation Income Trust during the first quarter valued at about $107,000. Lazard Asset Management LLC bought a new position in BlackRock Credit Allocation Income Trust in the first quarter worth about $128,000. Finally, Cetera Advisors LLC purchased a new stake in BlackRock Credit Allocation Income Trust in the first quarter worth about $146,000.

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.