Saba Capital Management, L.P. Sells 8,800 Shares of BlackRock Capital Allocation Term Trust (NYSE:BCAT) Stock

Posted by William Tyler on Sep 28th, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) major shareholder Saba Capital Management, L.P. sold 8,800 shares of BlackRock Capital Allocation Term Trust 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 completion of the sale, the insider now directly owns 16,159,657 shares of the company’s stock, valued at approximately $265,664,761.08. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more 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 Monday, September 23rd, Saba Capital Management, L.P. sold 33,209 shares of BlackRock Capital Allocation Term Trust stock. The stock was sold at an average price of $16.44, for a total value 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 value of $260,820.54.

BlackRock Capital Allocation Term Trust Trading Up 0.7 %

Shares of NYSE:BCAT opened at $16.38 on Friday. The firm’s 50 day moving average price is $16.29 and its 200-day moving average price is $16.22. 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 firm also recently declared 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 is Tuesday, October 15th. This is an increase from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10. This represents a $3.45 annualized dividend and a yield of 21.04%.

Institutional Investors Weigh In On BlackRock Capital Allocation Term Trust

A number of hedge funds have recently modified their holdings of the business. Fountainhead AM LLC lifted its position in BlackRock Capital Allocation Term Trust by 2.0% during the first quarter. Fountainhead AM LLC now owns 47,570 shares of the company’s stock valued at $793,000 after purchasing an additional 921 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of BlackRock Capital Allocation Term Trust by 0.9% during the 1st quarter. Commonwealth Equity Services LLC now owns 227,639 shares of the company’s stock valued at $3,792,000 after buying an additional 1,950 shares in the last quarter. Ironsides Asset Advisors LLC raised its stake in BlackRock Capital Allocation Term Trust by 14.1% during the 1st quarter. Ironsides Asset Advisors LLC now owns 29,133 shares of the company’s stock worth $485,000 after acquiring an additional 3,606 shares during the period. Blue Bell Private Wealth Management LLC lifted its holdings in BlackRock Capital Allocation Term Trust by 4.0% during the second 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 in the last quarter. Finally, Karpus Management Inc. boosted 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 worth $398,000 after purchasing an additional 4,350 shares during the period. Institutional investors own 36.12% of the company’s stock.