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BlackRock Inc. (NYSE:BLK), a global investment management corporation, has recently acquired a significant stake in the BlackRock ESG Capital Allocation Term Trust (NYSE:ECAT), a $1.69 billion market cap fund known for its impressive 22.69% dividend yield. According to the latest SEC filings, BlackRock purchased 86,000 common shares at a weighted average price of $16.38 per share. This acquisition represents a total investment of approximately $1.41 million.
The shares were bought at prices ranging from $16.20 to $16.48, with the current price trading near its 52-week low of $15.96, highlighting BlackRock’s strategic investment in its ESG-focused trust. Following this transaction, BlackRock’s direct ownership in the trust increased to 324,800 shares. Additionally, BlackRock Financial Management, Inc., a wholly owned subsidiary of BlackRock, holds an indirect ownership of 5,000 common shares. InvestingPro analysis reveals the trust has raised its dividend for 4 consecutive years, with several more key dividend insights available to subscribers.
The transaction was executed under the oversight of R. Andrew Dickson III, who signed the filing as Attorney-in-Fact. This strategic move underscores BlackRock’s ongoing commitment to environmental, social, and governance (ESG) investing. For investors interested in dividend analysis and ESG opportunities, InvestingPro offers comprehensive tools to evaluate similar high-yield investment opportunities.
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