BlackRock Enhanced Capital and Income Fund (NYSE:CII) Stock Passes Below 200 Day Moving Average – Should You Sell?

BlackRock Enhanced Capital and Income Fund, Inc. (NYSE:CII) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $23.20 and traded as low as $22.51. BlackRock Enhanced Capital and Income Fund shares last traded at $22.74, with a volume of 113,064 shares traded.

BlackRock Enhanced Capital and Income Fund Stock Performance

The stock’s 50 day moving average is $23.07 and its 200 day moving average is $23.20.

BlackRock Enhanced Capital and Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a dividend of $0.141 per share. The ex-dividend date is Friday, March 13th. This represents a c) annualized dividend and a dividend yield of 7.4%.

Hedge Funds Weigh In On BlackRock Enhanced Capital and Income Fund

Several hedge funds have recently bought and sold shares of CII. Advisors Asset Management Inc. boosted its holdings in BlackRock Enhanced Capital and Income Fund by 82.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 331,393 shares of the real estate investment trust’s stock valued at $7,622,000 after purchasing an additional 149,330 shares during the period. Envestnet Asset Management Inc. increased its stake in BlackRock Enhanced Capital and Income Fund by 4.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 347,145 shares of the real estate investment trust’s stock worth $7,412,000 after acquiring an additional 15,048 shares during the last quarter. Allworth Financial LP increased its stake in BlackRock Enhanced Capital and Income Fund by 354.7% in the 2nd quarter. Allworth Financial LP now owns 25,461 shares of the real estate investment trust’s stock worth $544,000 after acquiring an additional 19,861 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of BlackRock Enhanced Capital and Income Fund in the 2nd quarter valued at about $608,000. Finally, Osaic Holdings Inc. boosted its position in shares of BlackRock Enhanced Capital and Income Fund by 9.6% during the 2nd quarter. Osaic Holdings Inc. now owns 428,263 shares of the real estate investment trust’s stock valued at $9,144,000 after acquiring an additional 37,645 shares during the last quarter.

About BlackRock Enhanced Capital and Income Fund

BlackRock Enhanced Capital and Income Fund (NYSE: CII) is a diversified, closed-end management investment company organized in 1993 that seeks to provide shareholders with high current income and capital appreciation. The fund pursues its objectives by investing primarily in a portfolio of U.S. dollar-denominated senior secured floating-rate loans (commonly referred to as bank loans), high-yield corporate debt, collateralized loan obligations (CLOs) and other credit instruments. In order to enhance returns, the fund may employ leverage through borrowings and derivative exposures.

The fund’s portfolio construction emphasizes credit quality, yield generation and risk management.