BlackRock Capital Allocation Term Trust (NYSE:BCAT) Hits New 52-Week High – What’s Next?

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report)’s share price reached a new 52-week high on Monday . The stock traded as high as $16.05 and last traded at $16.0650, with a volume of 651691 shares trading hands. The stock had previously closed at $15.82.

BlackRock Capital Allocation Term Trust Trading Up 1.5%

The stock’s fifty day moving average price is $15.48 and its 200-day moving average price is $14.93.

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BlackRock Capital Allocation Term Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a $0.2542 dividend. This represents a c) annualized dividend and a yield of 19.0%. The ex-dividend date is Tuesday, September 15th.

Institutional Investors Weigh In On BlackRock Capital Allocation Term Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BCAT. Cohen & Steers Inc. grew its holdings in shares of BlackRock Capital Allocation Term Trust by 0.6% during the 4th quarter. Cohen & Steers Inc. now owns 1,632,657 shares of the company’s stock worth $23,118,000 after purchasing an additional 10,000 shares during the period. Bank of America Corp DE increased its position in shares of BlackRock Capital Allocation Term Trust by 8.9% during the 2nd quarter. Bank of America Corp DE now owns 1,424,014 shares of the company’s stock worth $21,560,000 after purchasing an additional 116,151 shares during the last quarter. Rivernorth Capital Management LLC purchased a new stake in BlackRock Capital Allocation Term Trust in the 4th quarter valued at about $19,940,000. Invesco Ltd. raised its holdings in BlackRock Capital Allocation Term Trust by 4.3% in the 3rd quarter. Invesco Ltd. now owns 1,324,286 shares of the company’s stock valued at $19,586,000 after buying an additional 54,297 shares during the period. Finally, Royal Bank of Canada lifted its position in BlackRock Capital Allocation Term Trust by 50.2% in the first quarter. Royal Bank of Canada now owns 570,035 shares of the company’s stock valued at $8,055,000 after buying an additional 190,604 shares during the last quarter. Hedge funds and other institutional investors own 36.12% of the company’s stock.

About BlackRock Capital Allocation Term Trust

(Get Free Report)

BlackRock Capital Allocation Term Trust (NYSE: BCAT) is a closed-end, diversified management investment company organized as a term trust. The fund’s primary objective is to deliver high current income and total return by investing across a broad range of credit and equity markets. BCAT seeks to achieve this objective through a portfolio of corporate debt securities, floating-rate loans, convertible securities, common and preferred equity, and asset-backed securities.

BCAT employs an actively managed, multi-sector credit approach that spans investment-grade and below-investment-grade bonds, senior secured loans and structured credit.

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