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In a recent transaction, BlackRock Inc. (NYSE:BLK) acquired a substantial number of common shares in BlackRock ESG Capital Allocation Term Trust (NYSE:ECAT), according to a filing with the Securities and Exchange Commission. The acquisition involved 79,600 shares at a weighted average price of $16.62 per share, totaling approximately $1.32 million. This purchase increases BlackRock’s direct ownership to 159,200 shares. The trust, currently valued at $1.68 billion by market capitalization, offers investors an attractive dividend yield of 22.26% and trades at a P/E ratio of 6.27.
The shares were bought in multiple transactions, with prices ranging from $16.51 to $16.71 per share. This transaction was executed by BlackRock Financial Management, Inc., a wholly owned subsidiary of BlackRock, Inc. The acquisition reflects BlackRock’s ongoing involvement in the trust, which focuses on ESG (Environmental, Social, and Governance) investment strategies. According to InvestingPro, ECAT has maintained a strong track record of dividend increases for four consecutive years, while generally trading with low price volatility.
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