BlackRock Capital Allocation Term Trust (NYSE:BCAT) Major Shareholder Saba Capital Management, L.P. Sells 166,128 Shares of Stock

Posted by MarketBeat News on Oct 16th, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) major shareholder Saba Capital Management, L.P. sold 166,128 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $16.60, for a total value of $2,757,724.80. Following the transaction, the insider now directly owns 15,096,159 shares in the company, valued at approximately $250,596,239.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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, October 11th, Saba Capital Management, L.P. sold 65,953 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.51, for a total value of $1,088,884.03.
On Wednesday, October 9th, Saba Capital Management, L.P. sold 72,094 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.45, for a total value of $1,185,946.30.
On Monday, October 7th, Saba Capital Management, L.P. sold 66,481 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.48, for a total value of $1,095,606.88.
On Friday, October 4th, Saba Capital Management, L.P. sold 52,067 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.47, for a total value of $857,543.49.
On Wednesday, October 2nd, Saba Capital Management, L.P. sold 75,831 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.48, for a total value of $1,249,694.88.
On Monday, September 30th, Saba Capital Management, L.P. sold 44,884 shares of BlackRock Capital Allocation Term Trust stock. The shares were 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 shares were sold at an average price of $16.44, for a total value 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 shares were sold at an average price of $16.41, for a total value of $260,820.54.

BlackRock Capital Allocation Term Trust Price Performance

BCAT stock opened at $16.25 on Wednesday. BlackRock Capital Allocation Term Trust has a fifty-two week low of $13.67 and a fifty-two week high of $17.18. The business’s 50-day moving average is $16.35 and its two-hundred day moving average is $16.26.

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. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.2871 per share. This is a boost from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10. This represents a $3.45 dividend on an annualized basis and a dividend yield of 21.20%. The ex-dividend date is Tuesday, October 15th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BCAT. Virtu Financial LLC purchased a new position in shares of BlackRock Capital Allocation Term Trust during the 4th quarter valued at about $315,000. Eagle Rock Investment Company LLC purchased a new position in shares of BlackRock Capital Allocation Term Trust during the 1st quarter valued at about $298,000. Commonwealth Equity Services LLC lifted its position in shares of BlackRock Capital Allocation Term Trust by 0.9% during the 1st quarter. Commonwealth Equity Services LLC now owns 227,639 shares of the company’s stock valued at $3,792,000 after buying an additional 1,950 shares in the last quarter. Fountainhead AM LLC lifted its position in shares of BlackRock Capital Allocation Term Trust by 2.0% during the 1st quarter. Fountainhead AM LLC now owns 47,570 shares of the company’s stock valued at $793,000 after buying an additional 921 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in shares of BlackRock Capital Allocation Term Trust by 18.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 29,180 shares of the company’s stock valued at $486,000 after buying an additional 4,586 shares in the last quarter. 36.12% of the stock is owned by hedge funds and other institutional investors.