BlackRock Capital Allocation Term Trust (NYSE:BCAT) Trading Down 0.4% – Should You Sell?

BlackRock Capital Allocation Term Trust (NYSE:BCAT)’s share price was down 0.4% during mid-day trading on Tuesday . The stock traded as low as $14.32 and last traded at $14.3850. Approximately 429,404 shares were traded during trading, a decline of 44% from the average daily volume of 767,952 shares. The stock had previously closed at $14.44.

BlackRock Capital Allocation Term Trust Trading Down 0.4%

The company has a 50-day moving average price of $14.76 and a 200-day moving average price of $14.59.

BlackRock Capital Allocation Term Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.2579 per share. This represents a c) annualized dividend and a dividend yield of 21.5%. 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 the stock. Royal Bank of Canada lifted its holdings in shares of 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 valued at $6,172,000 after purchasing an additional 343,154 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in shares of BlackRock Capital Allocation Term Trust by 35.7% in the 1st 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 period. First Trust Advisors LP grew its position in shares of BlackRock Capital Allocation Term Trust by 6.4% in the 2nd quarter. First Trust Advisors LP now owns 98,136 shares of the company’s stock valued at $1,486,000 after purchasing an additional 5,946 shares during the period. NewEdge Advisors LLC acquired a new position in shares of BlackRock Capital Allocation Term Trust in the 2nd quarter valued at approximately $233,000. Finally, Quantinno Capital Management LP acquired a new position in shares of BlackRock Capital Allocation Term Trust in the 2nd quarter valued at approximately $428,000. 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.