Harris Stayce D., a director at BlackRock (NYSE:BLK) Capital Allocation Term Trust (NYSE:BCAT), recently acquired 60 shares of common stock, according to a recent SEC filing. The purchase, which took place on October 28, was made at a price of $16.04 per share, totaling approximately $962. Following this transaction, Harris now directly owns 60 shares of the company.
InvestingPro Insights
The recent insider purchase by Harris Stayce D. at BlackRock Capital Allocation Term Trust (NYSE:BCAT) aligns with several interesting metrics and insights from InvestingPro.
BCAT's stock currently offers a substantial dividend yield of 21.78%, with the most recent ex-dividend date on October 15, 2024. This high yield is consistent with one of the InvestingPro Tips, which notes that the company "Pays a significant dividend to shareholders." This generous dividend policy could be a factor attracting insider investment, as it suggests confidence in the company's ability to generate cash flow.
The trust's P/E ratio stands at 8.78, indicating a potentially undervalued position relative to earnings. This low valuation is further supported by the InvestingPro Tip stating that the "RSI suggests the stock is in oversold territory." These factors combined might explain why an insider like Harris sees value in acquiring shares at current prices.
Another InvestingPro Tip highlights that the "Stock generally trades with low price volatility," which could be appealing to investors seeking stability. This characteristic is reflected in the moderate price movements over various timeframes, with a 1-month return of -1.72% and a more substantial year-to-date return of 20.29%.
It's worth noting that InvestingPro offers additional tips and insights beyond those mentioned here. Investors interested in a more comprehensive analysis of BCAT may find value in exploring the full range of tips available through the InvestingPro product.
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