BlackRock Capital Allocation Term Trust (NYSE:BCAT) Shares Down 0.9% – Here’s Why

BlackRock Capital Allocation Term Trust (NYSE:BCAT)’s stock price fell 0.9% on Friday . The stock traded as low as $15.46 and last traded at $15.4870. 635,472 shares were traded during trading, a decline of 11% from the average session volume of 717,457 shares. The stock had previously closed at $15.62.

BlackRock Capital Allocation Term Trust Trading Down 0.9%

The company’s fifty day moving average is $15.10 and its two-hundred day moving average is $14.77.

Hedge Funds Weigh In On BlackRock Capital Allocation Term Trust

Several hedge funds and other institutional investors have recently made changes to their positions in BCAT. Rivernorth Capital Management LLC acquired a new position in shares of BlackRock Capital Allocation Term Trust during the 4th quarter valued at $19,940,000. Absolute Investment Advisers LLC acquired a new position in shares of BlackRock Capital Allocation Term Trust during the 4th quarter valued at $5,083,000. Royal Bank of Canada lifted its holdings in shares of BlackRock Capital Allocation Term Trust by 401.7% during the 1st quarter. Royal Bank of Canada now owns 428,585 shares of the company’s stock valued at $6,172,000 after acquiring an additional 343,154 shares in the last quarter. Readystate Asset Management LP acquired a new position in shares of BlackRock Capital Allocation Term Trust during the 4th quarter valued at $2,887,000. Finally, Jane Street Group LLC acquired a new position in shares of BlackRock Capital Allocation Term Trust during the 4th quarter valued at $2,644,000. Institutional investors and hedge funds own 36.12% of the company’s stock.

BlackRock Capital Allocation Term Trust Company Profile

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.