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

BlackRock Credit Allocation Income Trust (NYSE:BTZ) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 106,300 shares, an increase of 76.0% from the January 31st total of 60,400 shares. Based on an average daily trading volume, of 262,600 shares, the days-to-cover ratio is presently 0.4 days.

BlackRock Credit Allocation Income Trust Price Performance

Shares of BTZ stock traded up $0.04 during trading hours on Friday, reaching $10.85. The company had a trading volume of 271,722 shares, compared to its average volume of 241,106. BlackRock Credit Allocation Income Trust has a twelve month low of $9.92 and a twelve month high of $11.30. The stock’s fifty day simple moving average is $10.67 and its 200 day simple moving average is $10.87.

BlackRock Credit Allocation Income Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.0839 per share. This represents a $1.01 dividend on an annualized basis and a yield of 9.28%. The ex-dividend date was Friday, February 14th. 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 hedge funds have recently bought and sold shares of BTZ. Kentucky Trust Co acquired a new stake in BlackRock Credit Allocation Income Trust during the 4th quarter valued at approximately $28,000. Oarsman Capital Inc. grew its stake in BlackRock Credit Allocation Income Trust by 460.8% during the 4th quarter. Oarsman Capital Inc. now owns 6,085 shares of the investment management company’s stock valued at $64,000 after purchasing an additional 5,000 shares in the last quarter. Huntington National Bank grew its stake in BlackRock Credit Allocation Income Trust by 458,000.0% during the 4th quarter. Huntington National Bank now owns 9,162 shares of the investment management company’s stock valued at $96,000 after purchasing an additional 9,160 shares in the last quarter. Argentarii LLC acquired a new stake in BlackRock Credit Allocation Income Trust during the 4th quarter valued at approximately $108,000. Finally, Noble Wealth Management PBC acquired a new stake in BlackRock Credit Allocation Income Trust during the 4th quarter valued at approximately $110,000.

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.