Insider Selling: BlackRock Capital Allocation Term Trust (NYSE:BCAT) Major Shareholder Sells 8,800 Shares of Stock

Posted by MarketBeat News on Sep 26th, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) major shareholder Saba Capital Management, L.P. sold 8,800 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $16.44, for a total transaction of $144,672.00. Following the transaction, the insider now directly owns 16,159,657 shares in the company, valued at $265,664,761.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major 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 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.
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 transaction of $260,820.54.

BlackRock Capital Allocation Term Trust Trading Up 0.3 %

Shares of NYSE BCAT traded up $0.05 during midday trading on Thursday, hitting $16.30. The company’s stock had a trading volume of 221,084 shares, compared to its average volume of 350,935. The business’s fifty day simple moving average is $16.30 and its two-hundred day simple moving average is $16.21. BlackRock Capital Allocation Term Trust has a 1 year low of $13.67 and a 1 year high of $17.18.

BlackRock Capital Allocation Term Trust Increases Dividend

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The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be paid a $0.2871 dividend. This represents a $3.45 annualized dividend and a dividend yield of 21.14%. The ex-dividend date of this dividend is Tuesday, October 15th. This is a boost from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10.

Hedge Funds Weigh In On BlackRock Capital Allocation Term Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fountainhead AM LLC raised its holdings in shares of BlackRock Capital Allocation Term Trust by 2.0% in the 1st quarter. Fountainhead AM LLC now owns 47,570 shares of the company’s stock worth $793,000 after purchasing an additional 921 shares during the period. Commonwealth Equity Services LLC increased its position in BlackRock Capital Allocation Term Trust by 0.9% in the 1st quarter. Commonwealth Equity Services LLC now owns 227,639 shares of the company’s stock valued at $3,792,000 after acquiring an additional 1,950 shares during the period. Ironsides Asset Advisors LLC increased its position in BlackRock Capital Allocation Term Trust by 14.1% in the 1st quarter. Ironsides Asset Advisors LLC now owns 29,133 shares of the company’s stock valued at $485,000 after acquiring an additional 3,606 shares during the period. Blue Bell Private Wealth Management LLC increased its position in shares of BlackRock Capital Allocation Term Trust by 4.0% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 104,722 shares of the company’s stock valued at $1,718,000 after purchasing an additional 4,059 shares during the period. Finally, Karpus Management Inc. boosted its stake in shares of BlackRock Capital Allocation Term Trust by 19.6% during the 4th quarter. Karpus Management Inc. now owns 26,600 shares of the company’s stock worth $398,000 after acquiring an additional 4,350 shares in the last quarter. 36.12% of the stock is owned by institutional investors and hedge funds.