BlackRock Capital Allocation Term Trust (NYSE:BCAT) Sees Large Increase in Short Interest

Posted by Danessa Lincoln on Nov 28th, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) was the recipient of a significant growth in short interest in November. As of November 15th, there was short interest totalling 251,200 shares, a growth of 175.1% from the October 31st total of 91,300 shares. Based on an average trading volume of 367,200 shares, the days-to-cover ratio is currently 0.7 days.

BlackRock Capital Allocation Term Trust Stock Up 0.2 %

Shares of NYSE BCAT opened at $16.18 on Thursday. BlackRock Capital Allocation Term Trust has a 12-month low of $14.65 and a 12-month high of $17.18. The stock’s fifty day simple moving average is $16.23 and its two-hundred day simple moving average is $16.32.

BlackRock Capital Allocation Term Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.2885 dividend. The ex-dividend date is Friday, November 15th. This represents a $3.46 dividend on an annualized basis and a dividend yield of 21.40%. This is an increase from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10.

Insider Activity at BlackRock Capital Allocation Term Trust

In other news, major shareholder Saba Capital Management, L.P. sold 166,128 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $16.60, for a total transaction of $2,757,724.80. Following the transaction, the insider now directly owns 15,096,159 shares in the company, valued at approximately $250,596,239.40. This trade represents a 1.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 723,927 shares of company stock worth $11,925,047 over the last three months.

Institutional Investors Weigh In On BlackRock Capital Allocation Term Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of BlackRock Capital Allocation Term Trust during the third quarter worth $156,000. Walleye Capital LLC acquired a new position in BlackRock Capital Allocation Term Trust during the 3rd quarter valued at about $234,000. Truist Financial Corp purchased a new stake in BlackRock Capital Allocation Term Trust in the second quarter valued at about $319,000. Prospera Financial Services Inc raised its stake in BlackRock Capital Allocation Term Trust by 5.0% in the third quarter. Prospera Financial Services Inc now owns 23,693 shares of the company’s stock valued at $390,000 after buying an additional 1,137 shares during the last quarter. Finally, Thrivent Financial for Lutherans purchased a new stake in BlackRock Capital Allocation Term Trust in the third quarter valued at about $398,000. Hedge funds and other institutional investors own 36.12% of the company’s stock.