Formidable Asset Management LLC Takes $933,000 Position in BlackRock Capital Allocation Term Trust $BCAT

Formidable Asset Management LLC bought a new position in shares of BlackRock Capital Allocation Term Trust (NYSE:BCAT) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 65,921 shares of the company’s stock, valued at approximately $933,000.

Several other institutional investors have also modified their holdings of BCAT. Cohen & Steers Inc. boosted its holdings in BlackRock Capital Allocation Term Trust by 0.6% in the fourth quarter. Cohen & Steers Inc. now owns 1,632,657 shares of the company’s stock valued at $23,118,000 after purchasing an additional 10,000 shares during the last quarter. Bank of America Corp DE increased its holdings in BlackRock Capital Allocation Term Trust by 8.9% during the 2nd quarter. Bank of America Corp DE now owns 1,424,014 shares of the company’s stock worth $21,560,000 after purchasing an additional 116,151 shares during the last quarter. Rivernorth Capital Management LLC acquired a new position in shares of BlackRock Capital Allocation Term Trust in the 4th quarter valued at approximately $19,940,000. Invesco Ltd. raised its position in shares of BlackRock Capital Allocation Term Trust by 4.3% in the 3rd quarter. Invesco Ltd. now owns 1,324,286 shares of the company’s stock valued at $19,586,000 after purchasing an additional 54,297 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of BlackRock Capital Allocation Term Trust by 25.1% during the 3rd quarter. Raymond James Financial Inc. now owns 467,447 shares of the company’s stock valued at $6,914,000 after buying an additional 93,659 shares during the last quarter. Institutional investors and hedge funds own 36.12% of the company’s stock.

BlackRock Capital Allocation Term Trust Price Performance

BCAT stock opened at $15.80 on Monday. BlackRock Capital Allocation Term Trust has a twelve month low of $13.73 and a twelve month high of $16.05. The firm has a 50 day simple moving average of $15.48 and a 200-day simple moving average of $14.93.

BlackRock Capital Allocation Term Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.2542 per share. This represents a c) dividend on an annualized basis and a yield of 19.3%. The ex-dividend date is Tuesday, September 15th.

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.