Saba Capital Management, L.P. Sells 33,209 Shares of BlackRock Capital Allocation Term Trust (NYSE:BCAT) Stock

Posted by Maria Luz-Campos on Sep 27th, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) major shareholder Saba Capital Management, L.P. sold 33,209 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $16.44, for a total value of $545,955.96. Following the completion of the sale, the insider now directly owns 16,185,465 shares of the company’s stock, valued at approximately $266,089,044.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions 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 stock was sold at an average price of $16.44, for a total value of $144,672.00.
On Thursday, September 19th, Saba Capital Management, L.P. sold 14,973 shares of BlackRock Capital Allocation Term Trust stock. The stock was 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 stock was sold at an average price of $16.41, for a total value of $260,820.54.

BlackRock Capital Allocation Term Trust Trading Up 0.1 %

Shares of BCAT stock opened at $16.27 on Friday. BlackRock Capital Allocation Term Trust has a fifty-two week low of $13.67 and a fifty-two week high of $17.18. The stock has a 50 day moving average price of $16.30 and a two-hundred day moving average price of $16.21.

BlackRock Capital Allocation Term Trust Increases Dividend

The business also recently disclosed 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 annualized dividend and a yield of 21.18%. This is an increase from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10.

Institutional Trading of BlackRock Capital Allocation Term Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Group AG lifted its position in BlackRock Capital Allocation Term Trust by 8.2% in the fourth quarter. UBS Group AG now owns 1,543,167 shares of the company’s stock valued at $23,070,000 after purchasing an additional 116,638 shares during the last quarter. Prevail Innovative Wealth Advisors LLC bought a new stake in BlackRock Capital Allocation Term Trust in the second quarter valued at approximately $1,452,000. Stifel Financial Corp lifted its position in BlackRock Capital Allocation Term Trust by 30.3% in the fourth quarter. Stifel Financial Corp now owns 488,792 shares of the company’s stock valued at $7,307,000 after purchasing an additional 113,628 shares during the last quarter. Private Advisor Group LLC bought a new stake in BlackRock Capital Allocation Term Trust in the fourth quarter valued at approximately $177,000. Finally, Oppenheimer & Co. Inc. lifted its position in BlackRock Capital Allocation Term Trust by 18.6% in the first quarter. Oppenheimer & Co. Inc. now owns 29,180 shares of the company’s stock valued at $486,000 after purchasing an additional 4,586 shares during the last quarter. Institutional investors own 36.12% of the company’s stock.