Insider Selling: BlackRock Capital Allocation Term Trust (NYSE:BCAT) Major Shareholder Sells $545,955.96 in Stock

Posted by Lindsey Winhoffer 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 dated Monday, September 23rd. The shares were sold at an average price of $16.44, for a total value of $545,955.96. Following the sale, the insider now owns 16,185,465 shares in the company, valued at $266,089,044.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major 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 Wednesday, September 25th, Saba Capital Management, L.P. sold 8,800 shares of BlackRock Capital Allocation Term Trust stock. The shares were 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 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 0.1 %

Shares of BCAT opened at $16.27 on Friday. BlackRock Capital Allocation Term Trust has a twelve month low of $13.67 and a twelve month high of $17.18. The business’s 50-day moving average price is $16.30 and its 200-day moving average price is $16.21.

BlackRock Capital Allocation Term Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued 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. The ex-dividend date is Tuesday, October 15th. This represents a $3.45 annualized dividend and a dividend yield of 21.18%.

Institutional Inflows and Outflows

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