BlackRock Capital Allocation Term Trust (NYSE:BCAT) Major Shareholder Sells $245,706.93 in Stock

Posted by MarketBeat News on Sep 23rd, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) major shareholder Saba Capital Management, L.P. sold 14,973 shares of BlackRock Capital Allocation Term Trust stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $16.41, for a total value of $245,706.93. Following the sale, the insider now directly owns 16,302,733 shares of the company’s stock, valued at approximately $267,527,848.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more 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 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 transaction of $260,820.54.

BlackRock Capital Allocation Term Trust Trading Up 0.3 %

Shares of BlackRock Capital Allocation Term Trust stock traded up $0.05 during trading on Monday, hitting $16.46. 132,897 shares of the company’s stock were exchanged, compared to its average volume of 350,773. BlackRock Capital Allocation Term Trust has a 52-week low of $13.67 and a 52-week high of $17.18. The business has a 50-day simple moving average of $16.32 and a 200-day simple moving average of $16.20.

BlackRock Capital Allocation Term Trust Increases Dividend

Want More Great Investing Ideas?

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 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 annualized dividend and a yield of 20.93%. The ex-dividend date of this dividend is Tuesday, October 15th.

Institutional Investors Weigh In On BlackRock Capital Allocation Term Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. UBS Group AG raised its holdings in BlackRock Capital Allocation Term Trust by 8.2% in the 4th quarter. UBS Group AG now owns 1,543,167 shares of the company’s stock worth $23,070,000 after purchasing an additional 116,638 shares during the period. Prevail Innovative Wealth Advisors LLC purchased a new position in shares of BlackRock Capital Allocation Term Trust during the 2nd quarter valued at approximately $1,452,000. Stifel Financial Corp grew its stake in BlackRock Capital Allocation Term Trust by 30.3% in the 4th quarter. Stifel Financial Corp now owns 488,792 shares of the company’s stock valued at $7,307,000 after acquiring an additional 113,628 shares during the period. Private Advisor Group LLC purchased a new stake in BlackRock Capital Allocation Term Trust in the 4th quarter worth $177,000. Finally, Oppenheimer & Co. Inc. raised its position in BlackRock Capital Allocation Term Trust by 18.6% during the first quarter. Oppenheimer & Co. Inc. now owns 29,180 shares of the company’s stock worth $486,000 after acquiring an additional 4,586 shares during the period. Institutional investors and hedge funds own 36.12% of the company’s stock.