Saba Capital Management, L.P. Sells 38,785 Shares of BlackRock Capital Allocation Term Trust (NYSE:BCAT) Stock

Posted by MarketBeat News on Oct 22nd, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) major shareholder Saba Capital Management, L.P. sold 38,785 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $16.32, for a total value of $632,971.20. Following the completion of the transaction, the insider now directly owns 14,917,540 shares of the company’s stock, valued at approximately $243,454,252.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

On Wednesday, October 16th, Saba Capital Management, L.P. sold 40,158 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.27, for a total transaction of $653,370.66.
On Monday, October 14th, Saba Capital Management, L.P. sold 166,128 shares of BlackRock Capital Allocation Term Trust stock. The stock was sold at an average price of $16.60, for a total transaction of $2,757,724.80.
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 transaction 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 stock was 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 stock was 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 stock was 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 transaction 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 stock was sold at an average price of $16.44, for a total transaction 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 transaction of $545,955.96.

BlackRock Capital Allocation Term Trust Stock Down 0.5 %

BCAT stock opened at $16.21 on Tuesday. BlackRock Capital Allocation Term Trust has a one year low of $13.67 and a one year high of $17.18. The firm’s 50 day moving average price is $16.37 and its 200-day moving average price is $16.25.

BlackRock Capital Allocation Term Trust Increases Dividend

Want More Great Investing Ideas?

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be given a $0.2871 dividend. 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 21.26%. This is an increase from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10.

Hedge Funds Weigh In On BlackRock Capital Allocation Term Trust

A number of hedge funds have recently modified their holdings of the business. Claro Advisors LLC raised its holdings in BlackRock Capital Allocation Term Trust by 101.3% in the 3rd quarter. Claro Advisors LLC now owns 31,734 shares of the company’s stock valued at $522,000 after buying an additional 15,969 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of BlackRock Capital Allocation Term Trust in the 2nd quarter valued at approximately $2,967,000. Truist Financial Corp acquired a new position in shares of BlackRock Capital Allocation Term Trust in the 2nd quarter worth approximately $319,000. Quarry LP boosted its position in shares of BlackRock Capital Allocation Term Trust by 68.4% during the 2nd quarter. Quarry LP now owns 69,034 shares of the company’s stock worth $1,133,000 after purchasing an additional 28,045 shares during the period. Finally, Almitas Capital LLC purchased a new position in shares of BlackRock Capital Allocation Term Trust during the 2nd quarter worth approximately $728,000. 36.12% of the stock is currently owned by hedge funds and other institutional investors.