BlackRock Credit Allocation Income Trust
BTZ
131 hedge funds and large institutions have $399M invested in BlackRock Credit Allocation Income Trust in 2020 Q1 according to their latest regulatory filings, with 24 funds opening new positions, 24 increasing their positions, 62 reducing their positions, and 30 closing their positions.
6% less funds holding
Funds holding: 140 → 131 (-9)
8.12% less ownership
Funds ownership: 41.05% → 32.94% (-8.1%)
20% less first-time investments, than exits
New positions opened: 24 | Existing positions closed: 30
61% less repeat investments, than reductions
Existing positions increased: 24 | Existing positions reduced: 62
67% less funds holding in top 10
Funds holding in top 10: 3 → 1 (-2)
70% less capital inflows, than outflows
Capital inflows: $43.5M | Capital outflows: $147M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Karpus Investment Management
Pittsford,
New York
|
+$14.6M |
| 2 |
Guggenheim Capital
Chicago,
Illinois
|
+$12.1M |
| 3 |
HighTower Advisors
Chicago,
Illinois
|
+$2.63M |
| 4 |
Cohen & Steers
New York
|
+$1.88M |
| 5 |
Evergreen Capital Management
Bellevue,
Washington
|
+$1.55M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Wells Fargo
San Francisco,
California
|
-$41.9M |
| 2 |
Rivernorth Capital Management
West Palm Beach,
Florida
|
-$26M |
| 3 |
Relative Value Partners Group
|
-$13.8M |
| 4 |
Bank of America
Charlotte,
North Carolina
|
-$10.9M |
| 5 |
Saba Capital Management
New York
|
-$7.36M |
BTZ Hedge Fund Activity: Q1 2020 in Review
131 of the 4,549 institutional investors tracked by Wall St. Rank reported a position in BlackRock Credit Allocation Income Trust (BTZ) for Q1 2020, worth a combined $399M — down 33% from $596M a quarter earlier.
Sellers outnumbered buyers: 30 funds closed out of BTZ and 24 opened new positions — a net loss of 6 holders — while 62 trimmed existing stakes and 24 added.
The largest buyer was Karpus Investment Management, opening a new position worth an estimated $14.6M. The largest seller was Wells Fargo, cutting an estimated $41.9M.
- 131 institutional investors held BlackRock Credit Allocation Income Trust (BTZ) as of Q1 2020, down from 140 in Q4 2019.
- Funds reported $399M of BlackRock Credit Allocation Income Trust stock for Q1 2020, down 33% quarter-over-quarter.
- 24 funds opened new BlackRock Credit Allocation Income Trust positions in Q1 2020 and 30 closed out, a net change of -6 holders.
- The largest BlackRock Credit Allocation Income Trust buyer in Q1 2020 was Karpus Investment Management, an estimated $14.6M added.
- The largest BlackRock Credit Allocation Income Trust seller in Q1 2020 was Wells Fargo, an estimated $41.9M sold.
Based on aggregated 13F filings for Q1 2020.