BlackRock Capital Allocation Term Trust (NYSE:BCAT) Major Shareholder Saba Capital Management, L.P. Sells 44,884 Shares

Posted by MarketBeat News on Oct 1st, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) major shareholder Saba Capital Management, L.P. sold 44,884 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $16.48, for a total transaction of $739,688.32. Following the completion of the sale, the insider now directly owns 16,114,773 shares of the company’s stock, valued at $265,571,459.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 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 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.
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 transaction 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 transaction of $260,820.54.

BlackRock Capital Allocation Term Trust Trading Up 0.1 %

NYSE BCAT traded up $0.01 during trading hours on Tuesday, hitting $16.46. 139,697 shares of the stock were exchanged, compared to its average volume of 351,158. BlackRock Capital Allocation Term Trust has a 12-month low of $13.67 and a 12-month high of $17.18. The stock has a 50-day moving average of $16.29 and a 200 day moving average of $16.23.

BlackRock Capital Allocation Term Trust Increases Dividend

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The company also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be issued 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 Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Eagle Rock Investment Company LLC acquired a new position in BlackRock Capital Allocation Term Trust during the first quarter worth about $298,000. Truist Financial Corp acquired a new stake in shares of BlackRock Capital Allocation Term Trust in the second quarter valued at approximately $319,000. Virtu Financial LLC acquired a new stake in shares of BlackRock Capital Allocation Term Trust in the fourth quarter valued at approximately $315,000. Karpus Management Inc. grew its position 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 purchasing an additional 4,350 shares during the last quarter. Finally, Ironsides Asset Advisors LLC grew its position in shares of 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 last quarter. 36.12% of the stock is owned by hedge funds and other institutional investors.