Short Interest in BlackRock Credit Allocation Income Trust (NYSE:BTZ) Rises By 51.9%

BlackRock Credit Allocation Income Trust (NYSE:BTZ – Get Rating) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 16,100 shares, an increase of 51.9% from the March 15th total of 10,600 shares. Based on an average trading volume of 351,600 shares, the days-to-cover ratio is currently 0.0 days.

NYSE:BTZ traded down $0.16 on Friday, hitting $11.96. 196,263 shares of the stock were exchanged, compared to its average volume of 345,284. BlackRock Credit Allocation Income Trust has a 52 week low of $11.96 and a 52 week high of $15.95. The company’s 50-day moving average price is $12.59 and its 200 day moving average price is $14.03.

The firm also recently declared a monthly dividend, which will be paid on Friday, April 29th. Stockholders of record on Thursday, April 14th will be given a dividend of $0.084 per share. This represents a $1.01 annualized dividend and a dividend yield of 8.43%. The ex-dividend date is Wednesday, April 13th.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Stolper Co boosted its stake in BlackRock Credit Allocation Income Trust by 9.6% in the first quarter. Stolper Co now owns 63,928 shares of the investment management company’s stock valued at $803,000 after acquiring an additional 5,581 shares during the last quarter. Capital Investment Advisors LLC boosted its position in shares of BlackRock Credit Allocation Income Trust by 155.4% in the 1st quarter. Capital Investment Advisors LLC now owns 283,413 shares of the investment management company’s stock worth $3,560,000 after purchasing an additional 172,436 shares during the last quarter. Glassy Mountain Advisors Inc. acquired a new stake in shares of BlackRock Credit Allocation Income Trust during the fourth quarter worth $532,000. Paradigm Financial Partners LLC bought a new stake in BlackRock Credit Allocation Income Trust in the fourth quarter valued at about $333,000. Finally, NewEdge Advisors LLC bought a new stake in BlackRock Credit Allocation Income Trust in the fourth quarter valued at about $323,000.

About BlackRock Credit Allocation Income Trust (Get Rating)

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.

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