Saba Capital Management, L.P. Sells 28,670 Shares of BlackRock Capital Allocation Term Trust (NYSE:BCAT) Stock

Posted by Shane Hupp on Oct 24th, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) major shareholder Saba Capital Management, L.P. sold 28,670 shares of BlackRock Capital Allocation Term Trust stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $16.27, for a total transaction of $466,460.90. Following the completion of the sale, the insider now owns 14,888,870 shares in the company, valued at $242,241,914.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 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 Friday, October 18th, Saba Capital Management, L.P. sold 38,785 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.32, for a total transaction of $632,971.20.
On Wednesday, October 16th, Saba Capital Management, L.P. sold 40,158 shares of BlackRock Capital Allocation Term Trust stock. The stock was sold at an average price of $16.27, for a total value 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 shares were sold at an average price of $16.60, for a total transaction of $2,757,724.80.
On Friday, October 11th, Saba Capital Management, L.P. sold 65,953 shares of BlackRock Capital Allocation Term Trust stock. The stock was 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 shares were sold at an average price of $16.45, for a total transaction 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 transaction 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 shares were 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 stock was 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.

BlackRock Capital Allocation Term Trust Stock Down 0.6 %

Shares of BlackRock Capital Allocation Term Trust stock opened at $16.10 on Thursday. BlackRock Capital Allocation Term Trust has a 1 year low of $13.70 and a 1 year high of $17.18. The business has a fifty day simple moving average of $16.37 and a two-hundred day simple moving average of $16.25.

BlackRock Capital Allocation Term Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be issued a dividend of $0.2871 per share. This is an increase 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 21.40%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC lifted its position in BlackRock Capital Allocation Term Trust by 0.9% during the first quarter. Commonwealth Equity Services LLC now owns 227,639 shares of the company’s stock worth $3,792,000 after acquiring an additional 1,950 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in BlackRock Capital Allocation Term Trust during the 2nd quarter worth approximately $2,967,000. Advisors Asset Management Inc. boosted its stake 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 purchasing an additional 15,763 shares during the period. Alpine Global Management LLC increased its position in BlackRock Capital Allocation Term Trust by 11.9% during the 1st quarter. Alpine Global Management LLC now owns 151,000 shares of the company’s stock worth $2,516,000 after buying an additional 16,000 shares during the period. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of BlackRock Capital Allocation Term Trust by 4.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 133,238 shares of the company’s stock worth $2,186,000 after buying an additional 5,438 shares in the last quarter. Institutional investors and hedge funds own 36.12% of the company’s stock.