BlackRock Capital Allocation Term Trust (NYSE:BCAT) Reaches New 52-Week High on Insider Buying Activity

BlackRock Capital Allocation Term Trust (NYSE:BCATGet Free Report)’s stock price reached a new 52-week high during trading on Tuesday after an insider bought additional shares in the company. The company traded as high as $15.60 and last traded at $15.60, with a volume of 85499 shares traded. The stock had previously closed at $15.44.

Specifically, major shareholder Saba Capital Management, L.P. purchased 2,639 shares of BlackRock Capital Allocation Term Trust stock in a transaction dated Friday, December 1st. The shares were acquired at an average cost of $14.79 per share, with a total value of $39,030.81. Following the purchase, the insider now owns 12,625,764 shares of the company’s stock, valued at $186,735,049.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have purchased 2,118,239 shares of company stock worth $31,440,851.

BlackRock Capital Allocation Term Trust Stock Performance

The stock’s 50 day simple moving average is $15.04 and its 200-day simple moving average is $14.78.

BlackRock Capital Allocation Term Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, February 29th. Investors of record on Thursday, February 15th will be paid a dividend of $0.127 per share. This represents a $1.52 annualized dividend and a yield of 9.84%. The ex-dividend date of this dividend is Wednesday, February 14th.

Institutional Investors Weigh In On BlackRock Capital Allocation Term Trust

Several large investors have recently added to or reduced their stakes in BCAT. Saba Capital Management L.P. increased its holdings in BlackRock Capital Allocation Term Trust by 17.2% during the 3rd quarter. Saba Capital Management L.P. now owns 10,259,217 shares of the company’s stock worth $148,656,000 after purchasing an additional 1,507,756 shares during the period. Morgan Stanley increased its stake in shares of BlackRock Capital Allocation Term Trust by 16.7% during the fourth quarter. Morgan Stanley now owns 9,792,232 shares of the company’s stock worth $135,818,000 after buying an additional 1,402,023 shares during the period. Advisor Partners II LLC purchased a new stake in shares of BlackRock Capital Allocation Term Trust in the 3rd quarter valued at approximately $7,966,000. Woodline Partners LP increased its position in shares of BlackRock Capital Allocation Term Trust by 151.5% in the 2nd quarter. Woodline Partners LP now owns 525,011 shares of the company’s stock valued at $8,006,000 after purchasing an additional 316,242 shares during the last quarter. Finally, UBS Group AG increased its position in shares of BlackRock Capital Allocation Term Trust by 10.1% in the 1st quarter. UBS Group AG now owns 1,426,420 shares of the company’s stock valued at $21,596,000 after purchasing an additional 130,415 shares during the last quarter. 31.63% of the stock is owned by hedge funds and other institutional investors.

BlackRock Capital Allocation Term Trust Company Profile

(Get Free Report)

Featured Stories

Receive News & Ratings for BlackRock Capital Allocation Term Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock Capital Allocation Term Trust and related companies with MarketBeat.com's FREE daily email newsletter.