Short Interest in BlackRock Capital Allocation Term Trust (NYSE:BCAT) Declines By 12.3%

Key Points

• Short interest declined 12.3% in February to 877,039 shares (about 0.8% of the float), with a days-to-cover ratio of 1.5.
• Institutional buying increased recently—Royal Bank of Canada grew its position by 401.7% to 428,585 shares, and institutions now own about 36.12% of BCAT.
• BCAT announced a monthly dividend of $0.2579 payable June 30 (record/ex-dividend date June 15), implying an approximately 21.1% annualized yield.

BlackRock Capital Allocation Term Trust (NYSE:BCAT - Get Free Report) was the target of a significant decline in short interest in the month of February. As of February 27th, there was short interest totaling 877,039 shares, a decline of 12.3% from the February 12th total of 1,000,614 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average trading volume of 598,248 shares, the days-to-cover ratio is currently 1.5 days. Based on an average trading volume of 598,248 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.8% of the shares of the stock are sold short.

Institutional Trading of BlackRock Capital Allocation Term Trust

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its position in BlackRock Capital Allocation Term Trust by 401.7% in the first quarter. Royal Bank of Canada now owns 428,585 shares of the company's stock valued at $6,172,000 after acquiring an additional 343,154 shares during the period. Integrated Wealth Concepts LLC boosted its stake in shares of BlackRock Capital Allocation Term Trust by 35.7% in the 1st quarter. Integrated Wealth Concepts LLC now owns 34,000 shares of the company's stock valued at $490,000 after purchasing an additional 8,950 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of BlackRock Capital Allocation Term Trust by 25.6% in the 2nd quarter. Cetera Investment Advisers now owns 58,588 shares of the company's stock worth $887,000 after purchasing an additional 11,948 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of BlackRock Capital Allocation Term Trust by 1.6% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 489,888 shares of the company's stock worth $7,417,000 after purchasing an additional 7,890 shares during the last quarter. Finally, Perennial Investment Advisors LLC increased its position in shares of BlackRock Capital Allocation Term Trust by 13.0% during the 2nd quarter. Perennial Investment Advisors LLC now owns 53,656 shares of the company's stock worth $812,000 after purchasing an additional 6,163 shares in the last quarter. Institutional investors and hedge funds own 36.12% of the company's stock.

BlackRock Capital Allocation Term Trust Stock Performance

Shares of BCAT opened at $14.67 on Tuesday. BlackRock Capital Allocation Term Trust has a 12 month low of $12.91 and a 12 month high of $15.41. The company has a 50-day moving average price of $14.84 and a two-hundred day moving average price of $14.67.

BlackRock Capital Allocation Term Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $0.2579 dividend. 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 21.1%.

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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