BlackRock Enhanced Capital and Income Fund (NYSE:CII) Shares Cross Below 50-Day Moving Average – Time to Sell?

BlackRock Enhanced Capital and Income Fund, Inc. (NYSE:CII) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $23.64 and traded as low as $22.97. BlackRock Enhanced Capital and Income Fund shares last traded at $23.01, with a volume of 212,308 shares.

BlackRock Enhanced Capital and Income Fund Trading Down 0.3%

The business has a 50-day moving average of $23.64 and a 200-day moving average of $23.00.

BlackRock Enhanced Capital and Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a dividend of $0.141 per share. The ex-dividend date is Friday, March 13th. This represents a c) dividend on an annualized basis and a dividend yield of 7.4%.

Hedge Funds Weigh In On BlackRock Enhanced Capital and Income Fund

A number of hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new stake in BlackRock Enhanced Capital and Income Fund in the 1st quarter valued at approximately $366,000. Truist Financial Corp boosted its position in shares of BlackRock Enhanced Capital and Income Fund by 14.6% during the second quarter. Truist Financial Corp now owns 105,606 shares of the real estate investment trust’s stock worth $2,255,000 after buying an additional 13,424 shares during the period. TPG Advisors LLC grew its stake in shares of BlackRock Enhanced Capital and Income Fund by 24.9% in the second quarter. TPG Advisors LLC now owns 44,890 shares of the real estate investment trust’s stock valued at $958,000 after buying an additional 8,958 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of BlackRock Enhanced Capital and Income Fund in the 2nd quarter valued at $68,000. Finally, Financial Security Advisor Inc. lifted its stake in BlackRock Enhanced Capital and Income Fund by 7.2% during the 2nd quarter. Financial Security Advisor Inc. now owns 16,084 shares of the real estate investment trust’s stock worth $343,000 after acquiring an additional 1,086 shares in the last quarter.

About BlackRock Enhanced Capital and Income Fund

BlackRock Enhanced Capital and Income Fund (NYSE: CII) is a diversified, closed-end management investment company organized in 1993 that seeks to provide shareholders with high current income and capital appreciation. The fund pursues its objectives by investing primarily in a portfolio of U.S. dollar-denominated senior secured floating-rate loans (commonly referred to as bank loans), high-yield corporate debt, collateralized loan obligations (CLOs) and other credit instruments. In order to enhance returns, the fund may employ leverage through borrowings and derivative exposures.

The fund’s portfolio construction emphasizes credit quality, yield generation and risk management.