BlackRock Capital Allocation Term Trust (NYSE:BCAT) Trading Up 0.7% – Here’s What Happened

BlackRock Capital Allocation Term Trust (NYSE:BCAT) shares traded up 0.7% on Monday . The stock traded as high as $15.92 and last traded at $15.8650. 741,994 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 724,242 shares. The stock had previously closed at $15.76.

BlackRock Capital Allocation Term Trust Stock Performance

The stock’s 50 day moving average price is $15.75 and its 200-day moving average price is $15.20.

BlackRock Capital Allocation Term Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.2542 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 19.2%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BCAT. Royal Bank of Canada raised its position in shares of BlackRock Capital Allocation Term Trust by 401.7% in the 1st quarter. Royal Bank of Canada now owns 428,585 shares of the company’s stock worth $6,172,000 after acquiring an additional 343,154 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in BlackRock Capital Allocation Term Trust by 35.7% in the first quarter. Integrated Wealth Concepts LLC now owns 34,000 shares of the company’s stock valued at $490,000 after purchasing an additional 8,950 shares during the last quarter. First Trust Advisors LP grew its stake in BlackRock Capital Allocation Term Trust by 6.4% in the second quarter. First Trust Advisors LP now owns 98,136 shares of the company’s stock valued at $1,486,000 after purchasing an additional 5,946 shares during the last quarter. NewEdge Advisors LLC purchased a new position in BlackRock Capital Allocation Term Trust in the second quarter valued at about $233,000. Finally, Quantinno Capital Management LP bought a new position in BlackRock Capital Allocation Term Trust in the second quarter worth about $428,000. 36.12% of the stock is currently owned by hedge funds and other institutional investors.

About BlackRock Capital Allocation Term Trust

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.