Saba Capital Management, L.P. Sells 75,831 Shares of BlackRock Capital Allocation Term Trust (NYSE:BCAT) Stock

Posted by MarketBeat News on Oct 3rd, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) major shareholder Saba Capital Management, L.P. sold 75,831 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $16.48, for a total value of $1,249,694.88. Following the sale, the insider now owns 15,721,648 shares of the company’s stock, valued at approximately $259,092,759.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Major 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 30th, Saba Capital Management, L.P. sold 44,884 shares of BlackRock Capital Allocation Term Trust stock. The stock was sold at an average price of $16.48, for a total value of $739,688.32.
On Wednesday, September 25th, Saba Capital Management, L.P. sold 8,800 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.44, for a total value of $144,672.00.
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 transaction of $545,955.96.
On Thursday, September 19th, Saba Capital Management, L.P. sold 14,973 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.41, for a total value of $245,706.93.
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 Stock Down 0.4 %

Shares of BlackRock Capital Allocation Term Trust stock traded down $0.07 on Thursday, reaching $16.36. The company’s stock had a trading volume of 268,186 shares, compared to its average volume of 353,234. The stock has a 50-day moving average price of $16.30 and a 200-day moving average price of $16.24. BlackRock Capital Allocation Term Trust has a 52-week low of $13.67 and a 52-week high of $17.18.

BlackRock Capital Allocation Term Trust Increases Dividend

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The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be given a dividend of $0.2871 per share. This is an increase from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $3.45 dividend on an annualized basis and a yield of 21.06%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Eagle Rock Investment Company LLC purchased a new position in BlackRock Capital Allocation Term Trust during the 1st quarter valued at about $298,000. Virtu Financial LLC acquired a new position in shares of BlackRock Capital Allocation Term Trust in the fourth quarter worth $315,000. Truist Financial Corp purchased a new stake in shares of BlackRock Capital Allocation Term Trust during the second quarter worth $319,000. Karpus Management Inc. raised its stake in shares of BlackRock Capital Allocation Term Trust by 19.6% in the fourth quarter. Karpus Management Inc. now owns 26,600 shares of the company’s stock valued at $398,000 after acquiring an additional 4,350 shares in the last quarter. Finally, Ironsides Asset Advisors LLC boosted its holdings in BlackRock Capital Allocation Term Trust by 14.1% in the first quarter. Ironsides Asset Advisors LLC now owns 29,133 shares of the company’s stock valued at $485,000 after purchasing an additional 3,606 shares during the period. 36.12% of the stock is currently owned by hedge funds and other institutional investors.