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BlackRock Credit Allocation Income Trust
BTZ

101 hedge funds and large institutions have $528M invested in BlackRock Credit Allocation Income Trust in 2014 Q1 according to their latest regulatory filings, with 22 funds opening new positions, 34 increasing their positions, 23 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

69% more first-time investments, than exits

New positions opened: 22 | Existing positions closed: 13

48% more repeat investments, than reductions

Existing positions increased: 34 | Existing positions reduced: 23

10% more funds holding

Funds holding: 92 → 101 (+9)

6% more capital invested

Capital invested by funds: $497M → $528M (+$30.6M)

0.61% more ownership

Funds ownership: 35.49% → 36.1% (+0.61%)

0% more funds holding in top 10

Funds holding in top 10: 6 → 6 (0)

Holders
101
Holders Change
+9
Holders Change %
+9.78%
% of All Funds
2.92%
Holding in Top 10
6
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.17%
New
22
Increased
34
Reduced
23
Closed
13
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
+$9.1M
2
NL
NWAM LLC
Washington
+$6M
3
SCM
Saba Capital Management
New York
+$5.29M
4
CC
Carlson Capital
Texas
+$3.44M
5
BG
BlackRock Group
United Kingdom
+$3.33M

Top Sellers

Rank Fund Capital Flow
1
PRCM
Pine River Capital Management
Minnesota
-$8.74M
2
RCM
Robinson Capital Management
Michigan
-$6.91M
3
Morgan Stanley
Morgan Stanley
New York
-$6.37M
4
CA
Commerzbank Aktiengesellschaft
Germany
-$5.39M
5
SIA
Sit Investment Associates
Minnesota
-$4.65M
Name Holding Trade Value Shares
Change 		Change in
Stake
1832 Asset Management
26
1832 Asset Management
Ontario, Canada
$3.42M -$2.03M -153,222 -38%
BG
27
BlackRock Group
United Kingdom
$3.4M +$3.33M +251,598 New
LPL Financial
28
LPL Financial
California
$3.31M +$56.4K +4,261 +2%
HK
29
Horizon Kinetics
New York
$2.98M -$39.6K -2,996 -1%
AAM
30
Advisors Asset Management
Colorado
$2.91M -$1.06M -80,500 -27%
AC
31
Allstate Corporation
Illinois
$2.76M +$2.7M +204,412 New
TJHA
32
Thomas J. Herzfeld Advisors
Florida
$2.41M -$16.9K -1,279 -0.7%
FAAS
33
First Allied Advisory Services
California
$1.42M -$2.04K -154 -0.1%
GEM
34
Global Endowment Management
North Carolina
$1.35M – – –
DIS
35
Diversified Investment Strategies
Louisiana
$1.28M – – –
VFS
36
VSR Financial Services
Kansas
$1.23M +$185K +14,011 +18%
CIA
37
Capital Investment Advisors
Georgia
$1.18M +$115K +8,706 +11%
IMS
38
Index Management Solutions
Pennsylvania
$1.04M +$634K +47,959 +164%
BNP Paribas Financial Markets
39
BNP Paribas Financial Markets
France
$1.02M +$985K +74,506 New
PP
40
Paloma Partners
Connecticut
$971K +$950K +71,822 New
PNC
41
Park National Corp
Ohio
$871K +$1.79K +135 +0.2%
NCM
42
Narwhal Capital Management
Georgia
$819K +$802K +60,608 New
Barclays
43
Barclays
United Kingdom
$750K -$18.3K -1,386 -2%
SI
44
Stephens Inc
Arkansas
$706K +$6.68K +505 +1%
IT
45
Independence Trust
Tennessee
$702K – – –
CS
46
Credit Suisse
Switzerland
$688K -$80.1K -6,054 -11%
HighTower Advisors
47
HighTower Advisors
Illinois
$681K +$193K +14,600 +41%
First Trust Advisors
48
First Trust Advisors
Illinois
$638K +$30K +2,268 +5%
DA
49
Doliver Advisors
Texas
$620K -$396K -29,976 -40%
FFA
50
First Foundation Advisors
California
$620K +$13.3K +1,002 +2%
1
2
3 4 5

BTZ Hedge Fund Activity: Q1 2014 in Review

101 of the 3,464 institutional investors tracked by Wall St. Rank reported a position in BlackRock Credit Allocation Income Trust (BTZ) for Q1 2014, worth a combined $528M — up 6.2% from $497M a quarter earlier.

Buyers outnumbered sellers: 22 funds opened new BTZ positions and 13 closed out — a net gain of 9 holders — while 34 added to existing stakes and 23 trimmed.

The largest buyer was Karpus Investment Management, adding an estimated $9.1M. The largest seller was Pine River Capital Management, exiting entirely with an estimated $8.74M sold.

  • 101 institutional investors held BlackRock Credit Allocation Income Trust (BTZ) as of Q1 2014, up from 92 in Q4 2013.
  • Funds reported $528M of BlackRock Credit Allocation Income Trust stock for Q1 2014, up 6.2% quarter-over-quarter.
  • 22 funds opened new BlackRock Credit Allocation Income Trust positions in Q1 2014 and 13 closed out, a net change of +9 holders.
  • The largest BlackRock Credit Allocation Income Trust buyer in Q1 2014 was Karpus Investment Management, an estimated $9.1M added.
  • The largest BlackRock Credit Allocation Income Trust seller in Q1 2014 was Pine River Capital Management, an estimated $8.74M sold.

Based on aggregated 13F filings for Q1 2014.