Short Interest in BlackRock Capital Allocation Term Trust (NYSE:BCAT) Declines By 54.9%

Posted by Mark Dietrich on Dec 14th, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) saw a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 113,400 shares, a drop of 54.9% from the November 15th total of 251,200 shares. Based on an average daily trading volume, of 369,600 shares, the days-to-cover ratio is presently 0.3 days.

Insider Buying and Selling at BlackRock Capital Allocation Term Trust

In other news, major shareholder Saba Capital Management, L.P. sold 28,670 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $16.27, for a total transaction of $466,460.90. Following the transaction, the insider now directly owns 14,888,870 shares of the company’s stock, valued at approximately $242,241,914.90. This trade represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 723,927 shares of company stock worth $11,925,047.

Hedge Funds Weigh In On BlackRock Capital Allocation Term Trust

A number of institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC purchased a new position in BlackRock Capital Allocation Term Trust in the 3rd quarter worth about $15,901,000. Sanctuary Advisors LLC acquired a new stake in BlackRock Capital Allocation Term Trust during the 2nd quarter worth about $2,967,000. Cambridge Investment Research Advisors Inc. boosted its position in BlackRock Capital Allocation Term Trust by 4.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 133,238 shares of the company’s stock worth $2,186,000 after acquiring an additional 5,438 shares during the period. Blue Bell Private Wealth Management LLC boosted its position in BlackRock Capital Allocation Term Trust by 4.0% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 104,722 shares of the company’s stock worth $1,718,000 after acquiring an additional 4,059 shares during the period. Finally, Mathes Company Inc. boosted its position in BlackRock Capital Allocation Term Trust by 6.0% during the 3rd quarter. Mathes Company Inc. now owns 96,500 shares of the company’s stock worth $1,587,000 after acquiring an additional 5,500 shares during the period. Hedge funds and other institutional investors own 36.12% of the company’s stock.

BlackRock Capital Allocation Term Trust Price Performance

Shares of BCAT traded up $0.01 during trading hours on Friday, reaching $16.32. 528,946 shares of the company’s stock traded hands, compared to its average volume of 356,651. The business’s fifty day simple moving average is $16.20 and its two-hundred day simple moving average is $16.32. BlackRock Capital Allocation Term Trust has a twelve month low of $14.68 and a twelve month high of $17.18.

BlackRock Capital Allocation Term Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 16th will be paid a $0.2892 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.47 dividend on an annualized basis and a yield of 21.26%. This is a boost from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10.