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

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

BlackRock Capital Allocation Term Trust Trading Up 0.0%

The stock’s fifty day simple moving average is $15.23 and its 200 day simple moving average is $14.83.

BlackRock Capital Allocation Term Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.2542 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 19.1%.

Institutional Trading of BlackRock Capital Allocation Term Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. increased its stake in shares of BlackRock Capital Allocation Term Trust by 15.6% in the third quarter. Advisors Asset Management Inc. now owns 339,332 shares of the company’s stock worth $5,019,000 after purchasing an additional 45,913 shares in the last quarter. Absolute Investment Advisers LLC purchased a new position in BlackRock Capital Allocation Term Trust during the fourth quarter valued at $5,083,000. Wolverine Asset Management LLC purchased a new position in BlackRock Capital Allocation Term Trust during the fourth quarter valued at $2,565,000. Closed End Fund Advisors Inc. purchased a new position in BlackRock Capital Allocation Term Trust during the fourth quarter valued at $519,000. Finally, Lido Advisors LLC grew its stake in BlackRock Capital Allocation Term Trust by 1,243.1% during the fourth quarter. Lido Advisors LLC now owns 180,590 shares of the company’s stock valued at $2,566,000 after acquiring an additional 167,144 shares in the last quarter. 36.12% of the stock is owned by hedge funds and other institutional investors.

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.