Saba Capital Management, L.P. Sells 14,973 Shares of BlackRock Capital Allocation Term Trust (NYSE:BCAT) Stock

Posted by Jim Brewer on Sep 25th, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) major shareholder Saba Capital Management, L.P. sold 14,973 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $16.41, for a total value of $245,706.93. Following the completion of the transaction, the insider now directly owns 16,302,733 shares in the company, valued at approximately $267,527,848.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 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 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 Stock Down 0.2 %

Shares of NYSE:BCAT opened at $16.37 on Wednesday. BlackRock Capital Allocation Term Trust has a fifty-two week low of $13.67 and a fifty-two week high of $17.18. The firm’s 50-day simple moving average is $16.31 and its 200-day simple moving average is $16.21.

BlackRock Capital Allocation Term Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.2871 per share. This is a positive change from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10. This represents a $3.45 annualized dividend and a dividend yield of 21.05%. The ex-dividend date is Tuesday, October 15th.

Institutional Trading of BlackRock Capital Allocation Term Trust

A number of institutional investors have recently added to or reduced their stakes in BCAT. UBS Group AG increased its stake in BlackRock Capital Allocation Term Trust by 8.2% in the 4th 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 in the last quarter. Wells Fargo & Company MN increased its position in shares of BlackRock Capital Allocation Term Trust by 0.9% in the fourth quarter. Wells Fargo & Company MN now owns 495,095 shares of the company’s stock valued at $7,402,000 after buying an additional 4,437 shares in the last quarter. Stifel Financial Corp raised its stake in shares of BlackRock Capital Allocation Term Trust by 30.3% during the 4th quarter. Stifel Financial Corp now owns 488,792 shares of the company’s stock worth $7,307,000 after buying an additional 113,628 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of 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 worth $3,792,000 after buying an additional 1,950 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of BlackRock Capital Allocation Term Trust in the 2nd quarter worth about $2,967,000. Hedge funds and other institutional investors own 36.12% of the company’s stock.