Insider Selling: BlackRock Capital Allocation Term Trust (NYSE:BCAT) Major Shareholder Sells 65,953 Shares of Stock

Posted by Scott Davis on Oct 18th, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) major shareholder Saba Capital Management, L.P. sold 65,953 shares of BlackRock Capital Allocation Term Trust stock in a transaction on Friday, October 11th. The stock was sold at an average price of $16.51, for a total value of $1,088,884.03. Following the transaction, the insider now directly owns 15,246,935 shares of the company’s stock, valued at approximately $251,726,896.85. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 Wednesday, October 16th, Saba Capital Management, L.P. sold 40,158 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.27, for a total transaction of $653,370.66.
On Monday, October 14th, Saba Capital Management, L.P. sold 166,128 shares of BlackRock Capital Allocation Term Trust stock. The stock was sold at an average price of $16.60, for a total value of $2,757,724.80.
On Wednesday, October 9th, Saba Capital Management, L.P. sold 72,094 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.45, for a total value of $1,185,946.30.
On Monday, October 7th, Saba Capital Management, L.P. sold 66,481 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.48, for a total value of $1,095,606.88.
On Friday, October 4th, Saba Capital Management, L.P. sold 52,067 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.47, for a total transaction of $857,543.49.
On Wednesday, October 2nd, Saba Capital Management, L.P. sold 75,831 shares of BlackRock Capital Allocation Term Trust stock. The stock was sold at an average price of $16.48, for a total value of $1,249,694.88.
On Monday, September 30th, Saba Capital Management, L.P. sold 44,884 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.48, for a total value of $739,688.32.
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 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 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 stock was sold at an average price of $16.41, for a total transaction of $245,706.93.

BlackRock Capital Allocation Term Trust Trading Down 0.2 %

BCAT opened at $16.23 on Friday. The company has a 50 day moving average of $16.36 and a two-hundred day moving average of $16.26. BlackRock Capital Allocation Term Trust has a 52-week low of $13.67 and a 52-week high of $17.18.

BlackRock Capital Allocation Term Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be given a $0.2871 dividend. This is an increase from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $3.45 annualized dividend and a dividend yield of 21.23%.

Hedge Funds Weigh In On BlackRock Capital Allocation Term Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Prevail Innovative Wealth Advisors LLC bought a new stake in BlackRock Capital Allocation Term Trust during the second quarter valued at $1,452,000. Almitas Capital LLC bought a new position in BlackRock Capital Allocation Term Trust in the second quarter worth about $728,000. Oppenheimer & Co. Inc. boosted its stake 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 acquiring an additional 4,586 shares during the period. Virtu Financial LLC bought a new stake in shares of BlackRock Capital Allocation Term Trust in the 4th quarter worth approximately $315,000. Finally, Quarry LP boosted its position in BlackRock Capital Allocation Term Trust by 68.4% during the 2nd quarter. Quarry LP now owns 69,034 shares of the company’s stock valued at $1,133,000 after purchasing an additional 28,045 shares during the period. Hedge funds and other institutional investors own 36.12% of the company’s stock.