BlackRock Capital Allocation Term Trust (NYSE:BCAT) Trading 0.9% Higher – Time to Buy?

BlackRock Capital Allocation Term Trust (NYSE:BCAT) shot up 0.9% during mid-day trading on Friday . The stock traded as high as $14.45 and last traded at $14.45. 579,007 shares were traded during trading, an increase of 5% from the average session volume of 549,133 shares. The stock had previously closed at $14.32.

BlackRock Capital Allocation Term Trust Trading Up 0.9%

The stock has a fifty day moving average of $14.44 and a two-hundred day moving average of $14.78.

BlackRock Capital Allocation Term Trust Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be paid a $0.262 dividend. The ex-dividend date is Monday, December 22nd. This represents a c) annualized dividend and a dividend yield of 21.8%.

Institutional Investors Weigh In On BlackRock Capital Allocation Term Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC purchased a new position in BlackRock Capital Allocation Term Trust in the 1st quarter valued at approximately $179,000. Raymond James Financial Inc. lifted its holdings in shares of BlackRock Capital Allocation Term Trust by 35.4% in the first quarter. Raymond James Financial Inc. now owns 282,503 shares of the company’s stock valued at $4,068,000 after purchasing an additional 73,872 shares in the last quarter. Walleye Capital LLC grew its position in shares of BlackRock Capital Allocation Term Trust by 134.4% in the first quarter. Walleye Capital LLC now owns 29,257 shares of the company’s stock valued at $421,000 after purchasing an additional 16,773 shares during the last quarter. Comerica Bank increased its stake in shares of BlackRock Capital Allocation Term Trust by 6.7% during the 1st quarter. Comerica Bank now owns 10,805 shares of the company’s stock worth $156,000 after purchasing an additional 679 shares in the last quarter. Finally, Ieq Capital LLC acquired a new position in shares of BlackRock Capital Allocation Term Trust during the 1st quarter worth approximately $652,000. 36.12% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Capital Allocation Term Trust Company Profile

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.