BlackRock Credit Allocation Income Trust (NYSE:BTZ) Short Interest Up 28.3% in October

BlackRock Credit Allocation Income Trust (NYSE:BTZ) was the target of a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 39,900 shares, a growth of 28.3% from the September 30th total of 31,100 shares. Based on an average daily volume of 248,500 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On BlackRock Credit Allocation Income Trust

A number of institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its position in BlackRock Credit Allocation Income Trust by 3.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,948,185 shares of the investment management company’s stock worth $42,285,000 after purchasing an additional 140,726 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of BlackRock Credit Allocation Income Trust during the first quarter worth about $128,000. Creekside Partners acquired a new position in BlackRock Credit Allocation Income Trust in the 2nd quarter valued at about $156,000. Raymond James Financial Services Advisors Inc. raised its stake in BlackRock Credit Allocation Income Trust by 4.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 961,789 shares of the investment management company’s stock valued at $10,301,000 after acquiring an additional 41,322 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in BlackRock Credit Allocation Income Trust by 7.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 32,989 shares of the investment management company’s stock worth $353,000 after acquiring an additional 2,200 shares during the period.

BlackRock Credit Allocation Income Trust Stock Performance

NYSE:BTZ opened at $10.70 on Wednesday. BlackRock Credit Allocation Income Trust has a 52-week low of $9.14 and a 52-week high of $11.30. The stock’s 50 day moving average price is $11.06 and its 200 day moving average price is $10.75.

BlackRock Credit Allocation Income Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a $0.0839 dividend. This is an increase from BlackRock Credit Allocation Income Trust’s previous monthly dividend of $0.07. This represents a $1.01 annualized dividend and a dividend yield of 9.41%. 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.