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BlackRock Credit Allocation Income Trust
BTZ

105 hedge funds and large institutions have $561M invested in BlackRock Credit Allocation Income Trust in 2014 Q2 according to their latest regulatory filings, with 12 funds opening new positions, 46 increasing their positions, 20 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

130% more repeat investments, than reductions

Existing positions increased: 46 | Existing positions reduced: 20

50% more first-time investments, than exits

New positions opened: 12 | Existing positions closed: 8

17% more funds holding in top 10

Funds holding in top 10: 6 → 7 (+1)

6% more capital invested

Capital invested by funds: $528M → $561M (+$33.9M)

4% more funds holding

Funds holding: 101 → 105 (+4)

1.68% more ownership

Funds ownership: 36.1% → 37.78% (+1.7%)

Holders
105
Holders Change
+4
Holders Change %
+3.96%
% of All Funds
3.02%
Holding in Top 10
7
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+16.67%
% of All Funds
0.2%
New
12
Increased
46
Reduced
20
Closed
8
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
KIM
Karpus Investment Management
New York
+$7.4M
2
U
UBS
Switzerland
+$6.67M
3
Bank of America
Bank of America
North Carolina
+$5.28M
4
DCM
Dialectic Capital Management
Connecticut
+$2.6M
5
Morgan Stanley
Morgan Stanley
New York
+$2.14M

Top Sellers

Rank Fund Capital Flow
1
FIMG
Financial & Investment Management Group
Michigan
-$2.24M
2
SIA
Sit Investment Associates
Minnesota
-$2.18M
3
AAM
Advisors Asset Management
Colorado
-$1.66M
4
SAMC
Spectrum Asset Management (Connecticut)
Connecticut
-$1.52M
5
FAAS
First Allied Advisory Services
California
-$1.42M
Name Holding Trade Value Shares
Change 		Change in
Stake
1832 Asset Management
26
1832 Asset Management
Ontario, Canada
$3.47M – – –
BG
27
BlackRock Group
United Kingdom
$3.46M – – –
LPL Financial
28
LPL Financial
California
$3.27M -$100K -7,325 -3%
HK
29
Horizon Kinetics
New York
$2.89M -$147K -10,756 -5%
AC
30
Allstate Corporation
Illinois
$2.81M – – –
DCM
31
Dialectic Capital Management
Connecticut
$2.61M +$2.6M +190,000 New
TJHA
32
Thomas J. Herzfeld Advisors
Florida
$2.46M +$1.37K +100 +0.1%
IMS
33
Index Management Solutions
Pennsylvania
$2.08M +$1.01M +74,028 +96%
TC
34
TFS Capital
Pennsylvania
$1.62M +$1.19M +86,982 +282%
KSCM
35
Kamunting Street Capital Management
Florida
$1.43M +$1.42M +103,779 New
GEM
36
Global Endowment Management
North Carolina
$1.38M – – –
DA
37
Doliver Advisors
Texas
$1.38M +$739K +54,097 +118%
CIA
38
Capital Investment Advisors
Georgia
$1.35M +$144K +10,563 +12%
VFS
39
VSR Financial Services
Kansas
$1.31M +$57.7K +4,220 +5%
AAM
40
Advisors Asset Management
Colorado
$1.29M -$1.66M -121,344 -56%
BNP Paribas Financial Markets
41
BNP Paribas Financial Markets
France
$1.28M +$259K +18,936 +25%
First Trust Advisors
42
First Trust Advisors
Illinois
$1.11M +$460K +33,653 +71%
PNC
43
Park National Corp
Ohio
$853K -$33.5K -2,450 -4%
NCM
44
Narwhal Capital Management
Georgia
$838K +$4.52K +331 +0.5%
HighTower Advisors
45
HighTower Advisors
Illinois
$836K +$142K +10,400 +21%
Barclays
46
Barclays
United Kingdom
$760K +$13K +949 +2%
FFA
47
First Foundation Advisors
California
$748K +$117K +8,531 +19%
IT
48
Independence Trust
Tennessee
$746K +$32.2K +2,359 +5%
SI
49
Stephens Inc
Arkansas
$722K +$3.55K +260 +0.5%
CS
50
Credit Suisse
Switzerland
$688K -$11.1K -812 -2%
1
2
3 4 5

BTZ Hedge Fund Activity: Q2 2014 in Review

105 of the 3,481 institutional investors tracked by Wall St. Rank reported a position in BlackRock Credit Allocation Income Trust (BTZ) for Q2 2014, worth a combined $561M — up 6.4% from $528M a quarter earlier.

Buyers outnumbered sellers: 12 funds opened new BTZ positions and 8 closed out — a net gain of 4 holders — while 46 added to existing stakes and 20 trimmed.

The largest buyer was Karpus Investment Management, adding an estimated $7.4M. The largest seller was Financial & Investment Management Group, cutting an estimated $2.24M.

  • 105 institutional investors held BlackRock Credit Allocation Income Trust (BTZ) as of Q2 2014, up from 101 in Q1 2014.
  • Funds reported $561M of BlackRock Credit Allocation Income Trust stock for Q2 2014, up 6.4% quarter-over-quarter.
  • 12 funds opened new BlackRock Credit Allocation Income Trust positions in Q2 2014 and 8 closed out, a net change of +4 holders.
  • The largest BlackRock Credit Allocation Income Trust buyer in Q2 2014 was Karpus Investment Management, an estimated $7.4M added.
  • The largest BlackRock Credit Allocation Income Trust seller in Q2 2014 was Financial & Investment Management Group, an estimated $2.24M sold.

Based on aggregated 13F filings for Q2 2014.