Kovack Advisors Inc. Purchases New Stake in BlackRock Capital Allocation Term Trust (NYSE:BCAT)

Posted by Teresa Graham on Nov 15th, 2024

Kovack Advisors Inc. bought a new stake in BlackRock Capital Allocation Term Trust (NYSE:BCAT – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 25,605 shares of the company’s stock, valued at approximately $421,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new position in shares of BlackRock Capital Allocation Term Trust during the 2nd quarter worth $2,967,000. Advisors Asset Management Inc. grew its stake in shares of BlackRock Capital Allocation Term Trust by 9.1% during the first quarter. Advisors Asset Management Inc. now owns 189,291 shares of the company’s stock worth $3,154,000 after buying an additional 15,763 shares during the last quarter. Alpine Global Management LLC grew its stake in shares of BlackRock Capital Allocation Term Trust by 11.9% during the first quarter. Alpine Global Management LLC now owns 151,000 shares of the company’s stock worth $2,516,000 after buying an additional 16,000 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of BlackRock Capital Allocation Term Trust by 4.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 133,238 shares of the company’s stock worth $2,186,000 after buying an additional 5,438 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC lifted its stake in shares of BlackRock Capital Allocation Term Trust by 4.0% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 104,722 shares of the company’s stock valued at $1,718,000 after acquiring an additional 4,059 shares during the last quarter. 36.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. sold 14,973 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.41, for a total value of $245,706.93. Following the sale, the insider now owns 16,302,733 shares of the company’s stock, valued at $267,527,848.53. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 723,927 shares of company stock valued at $11,925,047 over the last quarter.

BlackRock Capital Allocation Term Trust Price Performance

NYSE BCAT opened at $16.40 on Friday. BlackRock Capital Allocation Term Trust has a twelve month low of $14.53 and a twelve month high of $17.18. The business’s fifty day moving average is $16.30 and its 200 day moving average is $16.31.

BlackRock Capital Allocation Term Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.2885 per share. This is a boost from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10. This represents a $3.46 annualized dividend and a dividend yield of 21.11%. The ex-dividend date is Friday, November 15th.