BlackRock Credit Allocation Income Trust
BTZ
140 hedge funds and large institutions have $596M invested in BlackRock Credit Allocation Income Trust in 2019 Q4 according to their latest regulatory filings, with 32 funds opening new positions, 53 increasing their positions, 28 reducing their positions, and 14 closing their positions.
129% more first-time investments, than exits
New positions opened: 32 | Existing positions closed: 14
89% more repeat investments, than reductions
Existing positions increased: 53 | Existing positions reduced: 28
13% more funds holding
Funds holding: 124 → 140 (+16)
0% more funds holding in top 10
Funds holding in top 10: 3 → 3 (0)
5.4% less ownership
Funds ownership: 46.45% → 41.05% (-5.4%)
54% less capital inflows, than outflows
Capital inflows: $64.3M | Capital outflows: $140M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$17.6M |
| 2 |
Sit Investment Associates
Minneapolis,
Minnesota
|
+$13.7M |
| 3 |
Bramshill Investments
Naples,
Florida
|
+$6.53M |
| 4 |
Penserra Capital Management
Orinda,
California
|
+$3.26M |
| 5 |
UBS Group
Zurich,
Switzerland
|
+$2.47M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Saba Capital Management
New York
|
-$55.1M |
| 2 |
Karpus Investment Management
Pittsford,
New York
|
-$36.6M |
| 3 |
Wells Fargo
San Francisco,
California
|
-$27.7M |
| 4 |
Bulldog Investors
Saddle Brook,
New Jersey
|
-$4.62M |
| 5 |
1607 Capital Partners
Richmond,
Virginia
|
-$3.97M |
BTZ Hedge Fund Activity: Q4 2019 in Review
140 of the 5,094 institutional investors tracked by Wall St. Rank reported a position in BlackRock Credit Allocation Income Trust (BTZ) for Q4 2019, worth a combined $596M — down 9.3% from $657M a quarter earlier.
Buyers outnumbered sellers: 32 funds opened new BTZ positions and 14 closed out — a net gain of 18 holders — while 53 added to existing stakes and 28 trimmed.
The largest buyer was Rivernorth Capital Management, adding an estimated $17.6M. The largest seller was Saba Capital Management, cutting an estimated $55.1M.
- 140 institutional investors held BlackRock Credit Allocation Income Trust (BTZ) as of Q4 2019, up from 124 in Q3 2019.
- Funds reported $596M of BlackRock Credit Allocation Income Trust stock for Q4 2019, down 9.3% quarter-over-quarter.
- 32 funds opened new BlackRock Credit Allocation Income Trust positions in Q4 2019 and 14 closed out, a net change of +18 holders.
- The largest BlackRock Credit Allocation Income Trust buyer in Q4 2019 was Rivernorth Capital Management, an estimated $17.6M added.
- The largest BlackRock Credit Allocation Income Trust seller in Q4 2019 was Saba Capital Management, an estimated $55.1M sold.
Based on aggregated 13F filings for Q4 2019.