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BlackRock Inc. (NYSE:BLK) has increased its holdings in the BlackRock ESG Capital Allocation Term Trust (NYSE:ECAT) by acquiring 79,600 common shares. The shares were purchased at a weighted average price of $16.50 each, resulting in a total transaction value of approximately $1.31 million. This move brings BlackRock’s direct ownership in the trust to 238,800 shares. The trust, currently valued at $1.68 billion, offers an attractive dividend yield of 22.22% and trades at a P/E ratio of 6.27. According to InvestingPro, ECAT has maintained a consistent dividend increase for four consecutive years.
The purchase, disclosed in a recent SEC filing, highlights BlackRock’s ongoing investment activities within its ESG-focused investment vehicle. The shares were bought in multiple transactions, with prices ranging from $16.41 to $16.60 per share.
Additionally, BlackRock Financial Management, Inc., a wholly-owned subsidiary of BlackRock, Inc., holds an indirect ownership of 5,000 common shares, as noted in the filing. This acquisition further consolidates BlackRock’s position in the ESG investment space, a sector that continues to attract significant attention and capital.
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