BlackRock Capital Allocation Term Trust (NYSE:BCAT) Reaches New 12-Month High at $16.39

Posted by Stanley Muller on Mar 28th, 2024

Shares of BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $16.39 and last traded at $16.39, with a volume of 87877 shares trading hands. The stock had previously closed at $16.32.

BlackRock Capital Allocation Term Trust Trading Up 2.0 %

The company’s fifty day moving average is $15.60 and its two-hundred day moving average is $14.94.

BlackRock Capital Allocation Term Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be given a $0.127 dividend. This represents a $1.52 annualized dividend and a dividend yield of 9.15%. The ex-dividend date of this dividend is Thursday, March 14th.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. bought 1,061,017 shares of BlackRock Capital Allocation Term Trust stock in a transaction dated Tuesday, March 12th. The shares were acquired at an average cost of $15.78 per share, with a total value of $16,742,848.26. Following the completion of the transaction, the insider now owns 16,333,600 shares in the company, valued at approximately $257,744,208. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders purchased 1,902,871 shares of company stock worth $29,673,698.

Institutional Trading of BlackRock Capital Allocation Term Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in BCAT. Advisor Resource Council bought a new stake in BlackRock Capital Allocation Term Trust in the fourth quarter valued at about $1,564,000. Raymond James Financial Services Advisors Inc. raised its position in shares of BlackRock Capital Allocation Term Trust by 6.8% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,074 shares of the company’s stock valued at $363,000 after acquiring an additional 1,589 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in BlackRock Capital Allocation Term Trust by 6.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 128,956 shares of the company’s stock worth $1,869,000 after purchasing an additional 7,272 shares during the last quarter. Advisor Partners II LLC acquired a new position in BlackRock Capital Allocation Term Trust in the third quarter worth $7,966,000. Finally, Saba Capital Management L.P. increased its stake in BlackRock Capital Allocation Term Trust by 17.2% during the third quarter. Saba Capital Management L.P. now owns 10,259,217 shares of the company’s stock valued at $148,656,000 after purchasing an additional 1,507,756 shares during the last quarter. Institutional investors own 36.12% of the company’s stock.