BlackRock Health Sciences Term Trust (NYSE:BMEZ) Major Shareholder Saba Capital Management, L.P. Acquires 8,012 Shares

BlackRock Health Sciences Term Trust (NYSE:BMEZ) major shareholder Saba Capital Management, L.P. purchased 8,012 shares of BlackRock Health Sciences Term Trust stock in a transaction dated Monday, September 30th. The shares were acquired at an average cost of 15.84 per share, for a total transaction of 126,910.08. Following the completion of the transaction, the insider now owns 20,661,390 shares of the company’s stock, valued at approximately 327,276,417.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, September 27th, Saba Capital Management, L.P. bought 1,633 shares of BlackRock Health Sciences Term Trust stock. The stock was purchased at an average cost of 15.89 per share, for a total transaction of 25,948.37.
• On Wednesday, September 25th, Saba Capital Management, L.P. bought 300 shares of BlackRock Health Sciences Term Trust stock. The shares were purchased at an average cost of 15.73 per share, for a total transaction of 4,719.00.
• On Monday, September 23rd, Saba Capital Management, L.P. acquired 2,006 shares of BlackRock Health Sciences Term Trust stock. The stock was acquired at an average price of 15.98 per share, with a total value of 32,055.88.
• On Thursday, September 19th, Saba Capital Management, L.P. purchased 15,455 shares of BlackRock Health Sciences Term Trust stock. The shares were purchased at an average price of 16.14 per share, with a total value of 249,443.70.
• On Tuesday, September 17th, Saba Capital Management, L.P. purchased 27,148 shares of BlackRock Health Sciences Term Trust stock. The stock was acquired at an average cost of 15.93 per share, with a total value of 432,467.64.

BlackRock Health Sciences Term Trust Price Performance

Shares of BlackRock Health Sciences Term Trust stock traded down 0.03 during trading on Tuesday, hitting 15.81. 100,465 shares of the stock were exchanged, compared to its average volume of 274,754. The firm’s 50-day moving average price is 15.85 and its 200 day moving average price is 15.53. BlackRock Health Sciences Term Trust has a 12-month low of 12.93 and a 12-month high of 16.59.

BlackRock Health Sciences Term Trust Dividend Announcement

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 $0.176 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.11 annualized dividend and a yield of 13.36%.

Institutional Investors Weigh In On BlackRock Health Sciences Term Trust

A number of institutional investors and hedge funds have recently made changes to their positions in BMEZ. Almitas Capital LLC grew its holdings in BlackRock Health Sciences Term Trust by 89.3% during the 2nd quarter. Almitas Capital LLC now owns 1,761,943 shares of the company’s stock worth $27,063,000 after acquiring an additional 831,025 shares in the last quarter. Sessa Capital IM L.P. grew its position in BlackRock Health Sciences Term Trust by 27.1% in the second quarter. Sessa Capital IM L.P. now owns 1,853,022 shares of the company’s stock worth $28,462,000 after acquiring an additional 395,288 shares in the last quarter. Karpus Management Inc. increased its holdings in BlackRock Health Sciences Term Trust by 27.1% in the 4th quarter. Karpus Management Inc. now owns 1,217,589 shares of the company’s stock valued at $17,838,000 after buying an additional 259,464 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of BlackRock Health Sciences Term Trust in the 2nd quarter worth about $3,179,000. Finally, Wolverine Asset Management LLC lifted its position in BlackRock Health Sciences Term Trust by 1,569.0% during the 2nd quarter. Wolverine Asset Management LLC now owns 190,839 shares of the company’s stock valued at $2,931,000 after purchasing an additional 179,405 shares during the period.

About BlackRock Health Sciences Term Trust

BlackRock Health Sciences Trust II’s (BMEZ) (the ‘Trust’) investment objective is to provide total return and income through a combination of current income, current gains and long-term capital appreciation. The Trust seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its total assets in equity securities of companies principally engaged in the health sciences group of industries and equity derivatives with exposure to the health sciences group of industries.