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BlackRock, Inc. (NYSE:BLK) has increased its stake in BlackRock ESG Capital Allocation Term Trust (NYSE:ECAT) by purchasing 101,600 common shares, according to a recent SEC filing. The shares were acquired at a weighted average price of $16.31, totaling approximately $1.66 million. This transaction boosts BlackRock’s direct ownership to 1,075,200 shares in the $1.65 billion market cap trust, which currently offers an attractive 22.66% dividend yield.
This acquisition highlights BlackRock’s continued interest in its ESG-focused investment products. The shares were purchased in multiple transactions, with prices ranging from $16.18 to $16.38 per share, near the trust’s 52-week low and at an attractive P/E ratio of 6.27. InvestingPro analysis reveals the trust generally trades with low price volatility, making it potentially appealing for stable income seekers. The details of these transactions are available upon request from the issuer or the SEC.
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