Rivernorth Capital Management LLC Purchases New Stake in BlackRock Tchnlgy nd Prvt Eqty Trm Trst $BTX

Key Points

• Rivernorth Capital Management acquired 2.57 million BTX shares worth approximately $16.96 million, giving it a 4.37% stake and making the trust its 23rd-largest portfolio holding.
• BTX shares opened at $7.83 after falling 2.5%; the trust has a market capitalization of about $460.9 million and has traded between $6.13 and $9.44 over the past year.
• BTX declared a monthly dividend of $0.0525 per share, representing an annualized yield of about 8.0%; institutional investors currently own 26% of the stock.

Rivernorth Capital Management LLC purchased a new position in BlackRock Tchnlgy nd Prvt Eqty Trm Trst (NYSE:BTX - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,570,038 shares of the company's stock, valued at approximately $16,962,000. BlackRock Tchnlgy nd Prvt Eqty Trm Trst accounts for about 0.9% of Rivernorth Capital Management LLC's investment portfolio, making the stock its 23rd biggest position. Rivernorth Capital Management LLC owned approximately 4.37% of BlackRock Tchnlgy nd Prvt Eqty Trm Trst at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. WPG Advisers LLC lifted its stake in shares of BlackRock Tchnlgy nd Prvt Eqty Trm Trst by 122.8% during the 4th quarter. WPG Advisers LLC now owns 4,546 shares of the company's stock valued at $30,000 after buying an additional 2,506 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of BlackRock Tchnlgy nd Prvt Eqty Trm Trst during the 4th quarter valued at $38,000. Newbridge Financial Services Group Inc. bought a new position in BlackRock Tchnlgy nd Prvt Eqty Trm Trst in the 3rd quarter worth about $43,000. Comerica Bank bought a new stake in shares of BlackRock Tchnlgy nd Prvt Eqty Trm Trst during the third quarter valued at about $47,000. Finally, Fifth Third Bancorp purchased a new stake in shares of BlackRock Tchnlgy nd Prvt Eqty Trm Trst in the first quarter worth about $57,000. 26.00% of the stock is currently owned by institutional investors.

BlackRock Tchnlgy nd Prvt Eqty Trm Trst Trading Down 2.5%

BlackRock Tchnlgy nd Prvt Eqty Trm Trst stock opened at $7.83 on Wednesday. BlackRock Tchnlgy nd Prvt Eqty Trm Trst has a 1-year low of $6.13 and a 1-year high of $9.44. The firm has a market capitalization of $460.90 million, a PE ratio of -3.45 and a beta of 4.61. The firm's 50 day simple moving average is $8.77 and its 200 day simple moving average is $7.62.

BlackRock Tchnlgy nd Prvt Eqty Trm Trst Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $0.0525 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 8.0%. BlackRock Tchnlgy nd Prvt Eqty Trm Trst's dividend payout ratio (DPR) is presently -25.11%.

BlackRock Tchnlgy nd Prvt Eqty Trm Trst NYSE: BTX is a closed-end, term investment trust listed on the New York Stock Exchange. The vehicle is structured to provide investors with exposure to technology-focused companies and private equity investments through a managed portfolio of equity securities and related instruments. As a term trust, BTX operates with a defined life and an eventual liquidation or conversion mechanism determined by the fund's governing documents and shareholder votes.

The trust's stated investment focus centers on companies operating in the technology sector and on private equity interests that complement its public market holdings.

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