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

Posted by Nicole Kennedy 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 the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $16.44, for a total transaction of $144,672.00. Following the transaction, the insider now directly owns 16,159,657 shares of the company’s stock, valued at approximately $265,664,761.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% 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 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 stock was sold at an average price of $16.41, for a total value of $260,820.54.

BlackRock Capital Allocation Term Trust Stock Up 0.7 %

BCAT opened at $16.38 on Friday. The stock has a 50-day moving average price of $16.29 and a 200-day moving average price of $16.22. BlackRock Capital Allocation Term Trust has a 1 year low of $13.67 and a 1 year high of $17.18.

BlackRock Capital Allocation Term Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a $0.2871 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This is a boost 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 institutional investors have recently made changes to their positions in the company. UBS Group AG raised its holdings 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 worth $23,070,000 after acquiring an additional 116,638 shares during the last quarter. Wells Fargo & Company MN raised its stake 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 worth $7,402,000 after purchasing an additional 4,437 shares during the last quarter. Stifel Financial Corp lifted 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 valued at $7,307,000 after purchasing an additional 113,628 shares in the last quarter. Karpus Management Inc. boosted its position in shares of BlackRock Capital Allocation Term Trust by 19.6% during the fourth quarter. Karpus Management Inc. now owns 26,600 shares of the company’s stock valued at $398,000 after buying an additional 4,350 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in BlackRock Capital Allocation Term Trust in the 4th quarter worth about $315,000. Hedge funds and other institutional investors own 36.12% of the company’s stock.