Keebeck Wealth Management Takes Position in BlackRock Capital Allocation Term Trust $BCAT

Key Points

• Keebeck Wealth Management acquired 351,976 shares of BlackRock Capital Allocation Term Trust (BCAT) in the second quarter, valued at approximately $5.6 million. The position represents about 0.5% of Keebeck’s portfolio and 0.33% of BCAT’s outstanding shares.
• Institutional ownership increased among several other investors, with Geneos Wealth Management, McIlrath & Eck, and Brown Brothers Harriman among those reporting substantial additions. Institutions and hedge funds collectively own 36.12% of BCAT.
• BCAT recently traded at $15.89 and announced a monthly dividend of $0.2542 per share, equating to an annualized yield of approximately 19.2%. The closed-end fund invests across corporate debt, loans, structured credit, and equity markets.

Keebeck Wealth Management bought a new stake in BlackRock Capital Allocation Term Trust (NYSE:BCAT - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 351,976 shares of the company's stock, valued at approximately $5,607,000. BlackRock Capital Allocation Term Trust makes up approximately 0.5% of Keebeck Wealth Management's holdings, making the stock its 29th largest holding. Keebeck Wealth Management owned approximately 0.33% of BlackRock Capital Allocation Term Trust at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its holdings in BlackRock Capital Allocation Term Trust by 341.7% in the second quarter. Geneos Wealth Management Inc. now owns 2,045 shares of the company's stock worth $31,000 after acquiring an additional 1,582 shares in the last quarter. N.E.W. Advisory Services LLC increased its holdings in shares of BlackRock Capital Allocation Term Trust by 100.0% during the fourth 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 in the last quarter. McIlrath & Eck LLC raised its position in shares of BlackRock Capital Allocation Term Trust by 169.6% during the first quarter. McIlrath & Eck LLC now owns 3,130 shares of the company's stock worth $44,000 after purchasing an additional 1,969 shares during the period. Parallel Advisors LLC acquired a new position in shares of BlackRock Capital Allocation Term Trust during the third quarter worth approximately $47,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of BlackRock Capital Allocation Term Trust by 450.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 5,500 shares of the company's stock worth $81,000 after purchasing an additional 4,500 shares in the last quarter. 36.12% of the stock is owned by institutional investors and hedge funds.

BlackRock Capital Allocation Term Trust Price Performance

NYSE BCAT opened at $15.89 on Friday. The company has a fifty day simple moving average of $15.79 and a 200 day simple moving average of $15.31. BlackRock Capital Allocation Term Trust has a 12-month low of $13.73 and a 12-month high of $16.20.

BlackRock Capital Allocation Term Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.2542 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 19.2%.

BlackRock Capital Allocation Term Trust Profile

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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