Elevation Point Wealth Partners LLC Makes New $571,000 Investment in BlackRock Capital Allocation Term Trust $BCAT

Elevation Point Wealth Partners LLC bought a new stake in BlackRock Capital Allocation Term Trust (NYSE:BCAT) in the second quarter, Holdings Channel reports. The institutional investor bought 35,850 shares of the company’s stock, valued at approximately $571,000.

Other hedge funds have also modified their holdings of the company. Royal Bank of Canada increased its stake in 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 valued at $6,172,000 after purchasing an additional 343,154 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings 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 increased its position in shares of 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 buying an additional 5,946 shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of BlackRock Capital Allocation Term Trust during the 2nd quarter worth $233,000. Finally, Quantinno Capital Management LP acquired a new position in shares of BlackRock Capital Allocation Term Trust during the 2nd quarter worth $428,000. 36.12% of the stock is owned by institutional investors and hedge funds.

BlackRock Capital Allocation Term Trust Trading Down 0.8%

BlackRock Capital Allocation Term Trust stock opened at $15.77 on Tuesday. BlackRock Capital Allocation Term Trust has a 52 week low of $13.73 and a 52 week high of $16.20. The firm’s 50-day simple moving average is $15.80 and its 200 day simple moving average is $15.32.

BlackRock Capital Allocation Term Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.2542 dividend. This represents a c) annualized dividend and a dividend yield of 19.4%. The ex-dividend date of this dividend is Tuesday, September 15th.

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.