BlackRock Capital Allocation Term Trust (NYSE:BCAT) Sets New 52-Week High - Time to Buy?

Key Points

• New 52-week high: Shares of BlackRock Capital Allocation Term Trust (BCAT) hit $15.42, trading up about 1% and sitting above its 50-day ($14.78) and 200-day ($14.60) moving averages.
• Generous monthly dividend: The fund declared a $0.2579 monthly dividend (ex-dividend/record date June 15, payable June 30), implying an annualized yield of about 20.0%.
• BCAT is a closed-end term trust using an actively managed, multi-sector credit strategy to pursue high current income and total return, with institutional and hedge fund holders owning roughly 36.12% of the shares.

BlackRock Capital Allocation Term Trust (NYSE:BCAT - Get Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $15.42 and last traded at $15.4150, with a volume of 168984 shares traded. The stock had previously closed at $15.35.

BlackRock Capital Allocation Term Trust Trading Up 1.0%

The firm's 50-day simple moving average is $14.78 and its 200 day simple moving average is $14.60.

BlackRock Capital Allocation Term Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $0.2579 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 20.0%.

Hedge Funds Weigh In On BlackRock Capital Allocation Term Trust

Several hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC grew its position in shares of BlackRock Capital Allocation Term Trust by 4.7% during the 3rd quarter. NewEdge Advisors LLC now owns 16,100 shares of the company's stock worth $238,000 after buying an additional 724 shares during the period. Winebrenner Capital Management LLC raised its position in shares of BlackRock Capital Allocation Term Trust by 2.2% in the 3rd quarter. Winebrenner Capital Management LLC now owns 46,000 shares of the company's stock valued at $680,000 after acquiring an additional 1,000 shares during the period. N.E.W. Advisory Services LLC raised its position in shares of BlackRock Capital Allocation Term Trust by 100.0% in the 4th quarter. N.E.W. Advisory Services LLC now owns 2,400 shares of the company's stock valued at $34,000 after acquiring an additional 1,200 shares during the period. Perennial Investment Advisors LLC boosted its stake in BlackRock Capital Allocation Term Trust by 2.3% during the 3rd quarter. Perennial Investment Advisors LLC now owns 54,867 shares of the company's stock worth $811,000 after acquiring an additional 1,211 shares during the last quarter. Finally, Walkner Condon Financial Advisors LLC boosted its stake in BlackRock Capital Allocation Term Trust by 8.6% during the 1st quarter. Walkner Condon Financial Advisors LLC now owns 17,613 shares of the company's stock worth $249,000 after acquiring an additional 1,400 shares during the last quarter. Institutional investors and hedge funds 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.

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