Wolverine Asset Management LLC Acquires Shares of 181,129 BlackRock Capital Allocation Term Trust $BCAT

Key Points

• Wolverine Asset Management acquired a new stake of 181,129 shares in BlackRock Capital Allocation Term Trust (BCAT), valued at about $2.56 million, representing roughly 0.17% ownership at quarter end.
• BCAT declared a monthly dividend of $0.2579 per share payable June 30 with a record date of June 15, implying an annualized dividend yield of about 20.3%.
• Other institutional moves included Absolute Investment Advisers’ new ~$5.08 million stake and overall institutional ownership of 36.12%; BCAT recently traded around $15.27 with a 12‑month range of $13.73–$15.41.

Wolverine Asset Management LLC acquired a new stake in BlackRock Capital Allocation Term Trust (NYSE:BCAT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 181,129 shares of the company's stock, valued at approximately $2,565,000. Wolverine Asset Management LLC owned approximately 0.17% of BlackRock Capital Allocation Term Trust at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. boosted its holdings in BlackRock Capital Allocation Term Trust by 8.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 50,916 shares of the company's stock valued at $721,000 after purchasing an additional 3,873 shares in the last quarter. N.E.W. Advisory Services LLC boosted its holdings in 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 purchasing an additional 1,200 shares in the last quarter. Joseph P. Lucia & Associates LLC lifted its position in shares of BlackRock Capital Allocation Term Trust by 7.8% during the 4th quarter. Joseph P. Lucia & Associates LLC now owns 37,274 shares of the company's stock valued at $528,000 after acquiring an additional 2,695 shares during the period. Absolute Investment Advisers LLC acquired a new stake in shares of BlackRock Capital Allocation Term Trust during the 4th quarter valued at approximately $5,083,000. Finally, Shaker Financial Services LLC lifted its position in shares of BlackRock Capital Allocation Term Trust by 31.2% during the 4th quarter. Shaker Financial Services LLC now owns 20,335 shares of the company's stock valued at $288,000 after acquiring an additional 4,835 shares during the period. Hedge funds and other institutional investors own 36.12% of the company's stock.

BlackRock Capital Allocation Term Trust Trading Up 0.4%

BCAT stock opened at $15.27 on Tuesday. The firm has a 50 day moving average of $14.77 and a 200-day moving average of $14.60. BlackRock Capital Allocation Term Trust has a 12-month low of $13.73 and a 12-month high of $15.41.

BlackRock Capital Allocation Term Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.2579 per share. This represents a c) dividend on an annualized basis and a dividend yield of 20.3%. The ex-dividend date is Monday, June 15th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.