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

Posted by Wayne Rhoads 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 the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 14,888,870 shares in the company, valued at $242,241,914.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own more than 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 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 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 shares were sold at an average price of $16.60, for a total value 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 value 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 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 stock was 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 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 stock was sold at an average price of $16.48, for a total transaction 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 shares were sold at an average price of $16.44, for a total transaction 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. The stock’s fifty day simple moving average is $16.37 and its 200 day simple moving average is $16.25. BlackRock Capital Allocation Term Trust has a 12 month low of $13.70 and a 12 month high of $17.18.

BlackRock Capital Allocation Term Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.2871 per share. The ex-dividend date is Tuesday, October 15th. This represents a $3.45 dividend on an annualized basis and a dividend yield of 21.40%. This is a positive change from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10.

Hedge Funds Weigh In On BlackRock Capital Allocation Term Trust

Several institutional investors have recently modified their holdings of BCAT. Prevail Innovative Wealth Advisors LLC acquired a new stake in BlackRock Capital Allocation Term Trust during the 2nd quarter worth approximately $1,452,000. Almitas Capital LLC acquired a new stake in shares of BlackRock Capital Allocation Term Trust during the second quarter worth $728,000. Oppenheimer & Co. Inc. lifted its position in BlackRock Capital Allocation Term Trust by 18.6% in the 1st 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 in the last quarter. Quarry LP boosted its stake in BlackRock Capital Allocation Term Trust by 68.4% in the 2nd quarter. Quarry LP now owns 69,034 shares of the company’s stock worth $1,133,000 after purchasing an additional 28,045 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in 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 purchasing an additional 5,438 shares in the last quarter. Institutional investors own 36.12% of the company’s stock.