BlackRock Capital Allocation Term Trust (NYSE:BCAT) Hits New 52-Week High – Should You Buy?

BlackRock Capital Allocation Term Trust (NYSE:BCAT) reached a new 52-week high during trading on Tuesday . The stock traded as high as $16.20 and last traded at $16.1650, with a volume of 150695 shares. The stock had previously closed at $16.08.

BlackRock Capital Allocation Term Trust Trading Up 0.2%

The firm’s 50-day moving average price is $15.76 and its two-hundred day moving average price is $15.24.

BlackRock Capital Allocation Term Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.2542 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 18.9%.

Hedge Funds Weigh In On BlackRock Capital Allocation Term Trust

Large investors have recently made changes to their positions in the stock. Cohen & Steers Inc. lifted its stake in 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 acquiring an additional 10,000 shares in the last quarter. Bank of America Corp DE lifted its stake in BlackRock Capital Allocation Term Trust by 8.9% during the second 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 acquired a new position in shares of BlackRock Capital Allocation Term Trust in the 4th quarter valued at $19,940,000. Invesco Ltd. boosted its stake in 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 in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of BlackRock Capital Allocation Term Trust by 50.2% in the 1st quarter. Royal Bank of Canada now owns 570,035 shares of the company’s stock valued at $8,055,000 after purchasing an additional 190,604 shares during the period. 36.12% of the stock is currently owned by institutional investors and hedge funds.

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.