BlackRock Capital Allocation Term Trust (NYSE:BCAT) Major Shareholder Saba Capital Management, L.P. Sells 166,128 Shares

Posted by Michael Walen on Oct 15th, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) major shareholder Saba Capital Management, L.P. sold 166,128 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $16.60, for a total transaction of $2,757,724.80. Following the sale, the insider now directly owns 15,096,159 shares in the company, valued at approximately $250,596,239.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

On Friday, October 11th, Saba Capital Management, L.P. sold 65,953 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.51, for a total transaction of $1,088,884.03.
On Wednesday, October 9th, Saba Capital Management, L.P. sold 72,094 shares of BlackRock Capital Allocation Term Trust stock. The stock was 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 stock was 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 shares were sold at an average price of $16.48, for a total transaction 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 value 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 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 transaction 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 transaction of $260,820.54.

BlackRock Capital Allocation Term Trust Trading Down 2.0 %

Shares of BCAT stock traded down $0.34 during mid-day trading on Tuesday, hitting $16.31. 107,810 shares of the stock were exchanged, compared to its average volume of 352,415. BlackRock Capital Allocation Term Trust has a 52-week low of $13.67 and a 52-week high of $17.18. The firm has a fifty day moving average of $16.35 and a 200 day moving average of $16.26.

BlackRock Capital Allocation Term Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.2871 per share. This represents a $3.45 annualized dividend and a dividend yield of 21.13%. 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.

Hedge Funds Weigh In On BlackRock Capital Allocation Term Trust

A number of large investors have recently added to or reduced their stakes in BCAT. Commonwealth Equity Services LLC grew its stake in 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 acquiring an additional 1,950 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in BlackRock Capital Allocation Term Trust during the second quarter worth $2,967,000. Advisors Asset Management Inc. grew its holdings in BlackRock Capital Allocation Term Trust by 9.1% in the 1st quarter. Advisors Asset Management Inc. now owns 189,291 shares of the company’s stock valued at $3,154,000 after buying an additional 15,763 shares in the last quarter. Alpine Global Management LLC increased its stake in shares of BlackRock Capital Allocation Term Trust by 11.9% in the 1st quarter. Alpine Global Management LLC now owns 151,000 shares of the company’s stock worth $2,516,000 after acquiring an additional 16,000 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its holdings in shares of BlackRock Capital Allocation Term Trust by 4.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 133,238 shares of the company’s stock worth $2,186,000 after acquiring an additional 5,438 shares during the period. 36.12% of the stock is currently owned by institutional investors and hedge funds.