BlackRock raises stake in Triangle Capital Corp. (TCAP)

New York-based BlackRock, the world’s largest asset manager with a portfolio of $3.5 trillion, has upped its stake in Triangle Capital Corp. (NYSE:TCAP), the Raleigh-based business lender.
BlackRock Inc. (NSYE: BLK‎) reported holding 816,461 shares, for a 5.49 percent stake in TCAP, according to a new filing with the U.S. Securities and Exchange Commission.
As of last September, four entities under the BlackRock Inc. umbrella held a combined 5.1 percent of the Raleigh company.

TCAP, a specialty lender that makes loans to lower mid-market companies, announced this week that it planned to raise more than $50 million in fresh lending capital by selling more common stock.
Following the announcement, on Tuesday, the volume of traded TCAP shares shot up 1,360 percent over the company’s 65-day average, accompanied by volatile prices in the $19.30 range, according to Yahoo Finance.

Disclosure I am Long TCAP shares.