BlackRock Credit Allocation Income Trust
BTZ
91 hedge funds and large institutions have $447M invested in BlackRock Credit Allocation Income Trust in 2013 Q3 according to their latest regulatory filings, with 14 funds opening new positions, 33 increasing their positions, 24 reducing their positions, and 16 closing their positions.
38% more repeat investments, than reductions
Existing positions increased: 33 | Existing positions reduced: 24
6% more capital invested
Capital invested by funds: $420M → $447M (+$27.2M)
1.76% more ownership
Funds ownership: 29.9% → 31.66% (+1.8%)
0% more funds holding in top 10
Funds holding in top 10: 5 → 5 (0)
2% less funds holding
Funds holding: 93 → 91 (-2)
13% less first-time investments, than exits
New positions opened: 14 | Existing positions closed: 16
Top Buyers
| 1 |
SCM
Saba Capital Management
New York
|
+$12.9M |
| 2 |
TAM
Third Avenue Management
New York
|
+$5.63M |
| 3 |
AIM
Assured Investment Management
New York
|
+$5.03M |
| 4 |
Invesco
Atlanta,
Georgia
|
+$4.92M |
| 5 |
Wells Fargo
San Francisco,
California
|
+$4.2M |
Top Sellers
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
FNYS
101
First New York Securities
New York
| – | -$336K | -25,916 | Closed |
|
102
JP Morgan Chase
New York
| – | -$199K | -15,339 | Closed |
|
103
Rafferty Asset Management
New York
| – | -$151K | -11,657 | Closed |
|
|
PP
104
Paloma Partners
Greenwich,
Connecticut
| – | -$135K | -10,400 | Closed |
|
|
WAM
105
Wolverine Asset Management
Chicago,
Illinois
| – | -$29K | -2,266 | Closed |
|
|
FNBT
106
FineMark National Bank & Trust
Fort Myers,
Florida
| – | -$14K | -1,061 | Closed |
|
|
AC
107
Alexandria Capital
Arlington,
Virginia
| – | -$3K | -204 | Closed |
|
108
M&T Bank
Buffalo,
New York
| – | -$2K | -148 | Closed |
|
|
CFSG
109
Community Financial Services Group
Newport,
Vermont
| – | +$13 | +1 | New |
|
BTZ Hedge Fund Activity: Q3 2013 in Review
91 of the 3,084 institutional investors tracked by Wall St. Rank reported a position in BlackRock Credit Allocation Income Trust (BTZ) for Q3 2013, worth a combined $447M — up 6.5% from $420M a quarter earlier.
Sellers outnumbered buyers: 16 funds closed out of BTZ and 14 opened new positions — a net loss of 2 holders — while 24 trimmed existing stakes and 33 added.
The largest buyer was Saba Capital Management, opening a new position worth an estimated $12.9M. The largest seller was Sit Investment Associates, cutting an estimated $5.99M.
- 91 institutional investors held BlackRock Credit Allocation Income Trust (BTZ) as of Q3 2013, down from 93 in Q2 2013.
- Funds reported $447M of BlackRock Credit Allocation Income Trust stock for Q3 2013, up 6.5% quarter-over-quarter.
- 14 funds opened new BlackRock Credit Allocation Income Trust positions in Q3 2013 and 16 closed out, a net change of -2 holders.
- The largest BlackRock Credit Allocation Income Trust buyer in Q3 2013 was Saba Capital Management, an estimated $12.9M added.
- The largest BlackRock Credit Allocation Income Trust seller in Q3 2013 was Sit Investment Associates, an estimated $5.99M sold.
Based on aggregated 13F filings for Q3 2013.