BlackRock Capital Allocation Term Trust (NYSE:BCAT) Sets New 52-Week High – Time to Buy?

BlackRock Capital Allocation Term Trust (NYSE:BCAT) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $15.42 and last traded at $15.4150, with a volume of 168984 shares trading hands. The stock had previously closed at $15.35.

BlackRock Capital Allocation Term Trust Stock Performance

The company has a 50 day moving average of $14.78 and a 200 day moving average of $14.60.

BlackRock Capital Allocation Term Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.2579 dividend. This represents a c) annualized dividend and a dividend yield of 20.0%. The ex-dividend date is Monday, June 15th.

Hedge Funds Weigh In On BlackRock Capital Allocation Term Trust

Several institutional investors have recently modified their holdings of BCAT. Rivernorth Capital Management LLC acquired a new position in shares of BlackRock Capital Allocation Term Trust in the 4th quarter valued at approximately $19,940,000. Absolute Investment Advisers LLC acquired a new stake in BlackRock Capital Allocation Term Trust during the 4th quarter worth approximately $5,083,000. Royal Bank of Canada raised its holdings in BlackRock Capital Allocation Term Trust by 401.7% during the 1st quarter. Royal Bank of Canada now owns 428,585 shares of the company’s stock worth $6,172,000 after buying an additional 343,154 shares during the period. Readystate Asset Management LP bought a new position in BlackRock Capital Allocation Term Trust in the fourth quarter valued at approximately $2,887,000. Finally, Jane Street Group LLC acquired a new position in shares of BlackRock Capital Allocation Term Trust in the fourth quarter valued at approximately $2,644,000. Institutional investors own 36.12% of the company’s stock.

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.