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BlackRock, Inc. (NYSE:BLK) has made a notable acquisition of common shares in BlackRock ESG Capital Allocation Term Trust (NYSE:ECAT), a $1.68 billion market cap fund currently trading near its 52-week low. According to a recent SEC filing, BlackRock purchased a total of 86,000 shares, valued at approximately $1.41 million. The shares were acquired at a weighted average price of $16.41 per share, with the transaction prices ranging from $16.33 to $16.47. The trust stands out with its impressive 22.94% dividend yield and has raised its dividend for four consecutive years.
Following this acquisition, BlackRock now holds a total of 582,800 common shares directly. Additionally, BlackRock Financial Management, Inc., a wholly owned subsidiary of BlackRock, Inc., retains indirect ownership of 5,000 common shares. With a P/E ratio of 6.27 and generally low price volatility, ECAT presents interesting metrics. InvestingPro subscribers can access 4 additional key insights about ECAT’s valuation and growth prospects. This transaction underlines BlackRock’s ongoing involvement and interest in the ESG-focused trust.
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