Saba Capital Management, L.P. Sells 14,973 Shares of BlackRock Capital Allocation Term Trust (NYSE:BCAT) Stock

Posted by Trevor Kearing on Sep 25th, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) major shareholder Saba Capital Management, L.P. sold 14,973 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $16.41, for a total value of $245,706.93. Following the completion of the transaction, the insider now directly owns 16,302,733 shares in the company, valued at approximately $267,527,848.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

On Monday, September 23rd, Saba Capital Management, L.P. sold 33,209 shares of BlackRock Capital Allocation Term Trust stock. The stock was sold at an average price of $16.44, for a total value of $545,955.96.
On Tuesday, September 17th, Saba Capital Management, L.P. sold 15,894 shares of BlackRock Capital Allocation Term Trust stock. The stock was sold at an average price of $16.41, for a total value of $260,820.54.

BlackRock Capital Allocation Term Trust Trading Down 0.2 %

Shares of BlackRock Capital Allocation Term Trust stock opened at $16.37 on Wednesday. BlackRock Capital Allocation Term Trust has a 52 week low of $13.67 and a 52 week high of $17.18. The firm’s 50 day moving average is $16.31 and its two-hundred day moving average is $16.21.

BlackRock Capital Allocation Term Trust Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a dividend of $0.2871 per share. This is a positive change from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10. This represents a $3.45 annualized dividend and a yield of 21.05%. The ex-dividend date is Tuesday, October 15th.

Institutional Investors Weigh In On BlackRock Capital Allocation Term Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new position in BlackRock Capital Allocation Term Trust during the second quarter worth approximately $2,967,000. Truist Financial Corp acquired a new position in shares of BlackRock Capital Allocation Term Trust in the 2nd quarter valued at $319,000. Quarry LP raised its position in BlackRock Capital Allocation Term Trust by 68.4% in the 2nd quarter. Quarry LP now owns 69,034 shares of the company’s stock valued at $1,133,000 after purchasing an additional 28,045 shares during the last quarter. Almitas Capital LLC acquired a new stake in BlackRock Capital Allocation Term Trust during the 2nd quarter worth $728,000. Finally, Prevail Innovative Wealth Advisors LLC purchased a new position in BlackRock Capital Allocation Term Trust during the 2nd quarter worth $1,452,000. 36.12% of the stock is owned by hedge funds and other institutional investors.