BlackRock Capital Allocation Term Trust (NYSE:BCAT) Major Shareholder Sells $260,820.54 in Stock

Posted by Steve Reilly on Sep 22nd, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) major shareholder Saba Capital Management, L.P. sold 15,894 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $16.41, for a total value of $260,820.54. Following the sale, the insider now owns 16,317,706 shares in the company, valued at $267,773,555.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

BlackRock Capital Allocation Term Trust Stock Up 0.4 %

BCAT stock opened at $16.41 on Friday. The stock has a 50-day simple moving average of $16.32 and a two-hundred day simple moving average of $16.20. BlackRock Capital Allocation Term Trust has a twelve month low of $13.67 and a twelve month high of $17.18.

BlackRock Capital Allocation Term Trust Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a dividend of $0.2871 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $3.45 annualized dividend and a yield of 21.00%. This is a boost from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10.

Institutional Trading of BlackRock Capital Allocation Term Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new position in shares of BlackRock Capital Allocation Term Trust during the 2nd quarter valued at $2,967,000. Truist Financial Corp purchased a new position in BlackRock Capital Allocation Term Trust during the second quarter worth about $319,000. Quarry LP grew its position in BlackRock Capital Allocation Term Trust by 68.4% during the second quarter. Quarry LP now owns 69,034 shares of the company’s stock worth $1,133,000 after buying an additional 28,045 shares in the last quarter. Almitas Capital LLC bought a new position in BlackRock Capital Allocation Term Trust in the 2nd quarter worth about $728,000. Finally, Prevail Innovative Wealth Advisors LLC bought a new stake in shares of BlackRock Capital Allocation Term Trust during the 2nd quarter valued at about $1,452,000. Institutional investors own 36.12% of the company’s stock.