BlackRock Capital Allocation Term Trust (NYSE:BCAT) Sets New 52-Week High – Here’s What Happened

Shares of BlackRock Capital Allocation Term Trust (NYSE:BCAT) reached a new 52-week high on Tuesday . The stock traded as high as $15.71 and last traded at $15.5950, with a volume of 765581 shares changing hands. The stock had previously closed at $15.52.

BlackRock Capital Allocation Term Trust Stock Up 0.5%

The firm has a 50 day moving average price of $14.81 and a two-hundred day moving average price of $14.63.

BlackRock Capital Allocation Term Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.2579 dividend. This represents a c) annualized dividend and a dividend yield of 19.8%. The ex-dividend date is Monday, June 15th.

Institutional Investors Weigh In On BlackRock Capital Allocation Term Trust

Several large investors have recently modified their holdings of BCAT. Cohen & Steers Inc. raised its stake in shares of BlackRock Capital Allocation Term Trust by 0.6% in the fourth quarter. Cohen & Steers Inc. now owns 1,632,657 shares of the company’s stock valued at $23,118,000 after acquiring an additional 10,000 shares during the last quarter. Bank of America Corp DE raised its stake in shares of BlackRock Capital Allocation Term Trust by 8.9% in the second quarter. Bank of America Corp DE now owns 1,424,014 shares of the company’s stock valued at $21,560,000 after acquiring an additional 116,151 shares during the last quarter. Rivernorth Capital Management LLC bought a new position in shares of BlackRock Capital Allocation Term Trust in the fourth quarter valued at approximately $19,940,000. Invesco Ltd. raised its stake in shares of BlackRock Capital Allocation Term Trust by 4.3% in the third quarter. Invesco Ltd. now owns 1,324,286 shares of the company’s stock valued at $19,586,000 after acquiring an additional 54,297 shares during the last quarter. Finally, Penserra Capital Management LLC raised its stake in shares of BlackRock Capital Allocation Term Trust by 11.3% in the third quarter. Penserra Capital Management LLC now owns 1,303,212 shares of the company’s stock valued at $19,274,000 after acquiring an additional 132,104 shares during the last quarter. 36.12% of the stock is currently owned by institutional investors.

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.