BlackRock Capital Allocation Term Trust (NYSE:BCAT) Hits New 1-Year High – Time to Buy?

BlackRock Capital Allocation Term Trust (NYSE:BCAT) shares reached a new 52-week high on Friday . The stock traded as high as $15.98 and last traded at $15.9650, with a volume of 665279 shares trading hands. The stock had previously closed at $15.96.

BlackRock Capital Allocation Term Trust Stock Performance

The company’s 50-day simple moving average is $15.23 and its 200 day simple moving average is $14.83.

BlackRock Capital Allocation Term Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.2542 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 19.1%.

Hedge Funds Weigh In On BlackRock Capital Allocation Term Trust

Institutional investors have recently bought and sold shares of the business. Keener Financial Planning LLC bought a new position in BlackRock Capital Allocation Term Trust during the third quarter valued at $29,000. Geneos Wealth Management Inc. lifted its position in BlackRock Capital Allocation Term Trust by 341.7% during the second quarter. Geneos Wealth Management Inc. now owns 2,045 shares of the company’s stock valued at $31,000 after purchasing an additional 1,582 shares during the last quarter. N.E.W. Advisory Services LLC lifted its position in BlackRock Capital Allocation Term Trust by 100.0% during the fourth quarter. N.E.W. Advisory Services LLC now owns 2,400 shares of the company’s stock valued at $34,000 after purchasing an additional 1,200 shares during the last quarter. McIlrath & Eck LLC lifted its position in BlackRock Capital Allocation Term Trust by 169.6% during the first quarter. McIlrath & Eck LLC now owns 3,130 shares of the company’s stock valued at $44,000 after purchasing an additional 1,969 shares during the last quarter. Finally, Parallel Advisors LLC bought a new position in BlackRock Capital Allocation Term Trust during the third quarter valued at $47,000. 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.