BlackRock Capital Allocation Term Trust (NYSE:BCAT) Sees Large Drop in Short Interest

BlackRock Capital Allocation Term Trust (NYSE:BCAT) was the target of a large decline in short interest in the month of October. As of October 30th, there was short interest totaling 544,482 shares, a decline of 83.4% from the October 15th total of 3,286,668 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average daily trading volume, of 641,688 shares, the short-interest ratio is presently 0.8 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BCAT. Bank of America Corp DE bought a new stake in BlackRock Capital Allocation Term Trust during the second quarter valued at $24,720,000. Keebeck Wealth Management acquired a new stake in BlackRock Capital Allocation Term Trust during the 2nd quarter worth about $5,607,000. Royal Bank of Canada raised its position in shares of BlackRock Capital Allocation Term Trust by 50.2% in the 1st quarter. Royal Bank of Canada now owns 570,035 shares of the company’s stock worth $8,055,000 after acquiring an additional 190,604 shares in the last quarter. Perennial Investment Advisors LLC bought a new position in shares of BlackRock Capital Allocation Term Trust in the 2nd quarter worth about $1,826,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of BlackRock Capital Allocation Term Trust in the 2nd quarter valued at about $571,000. Institutional investors own 36.12% of the company’s stock.

BlackRock Capital Allocation Term Trust Stock Down 3.2%

BCAT stock traded down $0.43 during trading hours on Thursday, hitting $13.20. 818,377 shares of the stock were exchanged, compared to its average volume of 756,195. The company has a 50-day simple moving average of $13.97 and a two-hundred day simple moving average of $14.98. BlackRock Capital Allocation Term Trust has a 12 month low of $12.91 and a 12 month high of $16.20.

BlackRock Capital Allocation Term Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be issued a dividend of $0.2501 per share. This represents a $3.00 annualized dividend and a dividend yield of 22.7%. The ex-dividend date of this dividend is Friday, December 11th.

About BlackRock Capital Allocation Term Trust

BlackRock Capital Allocation Term Trust (BCAT) is a diversified, publicly traded closed-end investment fund managed by BlackRock Advisors. It seeks to provide total return through a combination of income and capital appreciation. The fund invests across global markets in equity and debt securities, and may also use derivatives and other investment strategies. Its portfolio can include securities with varying credit quality and risk profiles. BCAT began operations in 2020 and is structured as a term trust, with a planned termination date subject to the fund’s governing documents and any required shareholder action.