BlackRock Capital Allocation Term Trust (NYSE:BCAT) Major Shareholder Saba Capital Management, L.P. Sells 15,894 Shares

Posted by Defense World Staff on Sep 20th, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) major shareholder Saba Capital Management, L.P. sold 15,894 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $16.41, for a total transaction of $260,820.54. Following the completion of the sale, the insider now directly owns 16,317,706 shares in the company, valued at $267,773,555.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

BlackRock Capital Allocation Term Trust Stock Up 0.5 %

BlackRock Capital Allocation Term Trust stock opened at $16.35 on Friday. BlackRock Capital Allocation Term Trust has a 1-year low of $13.67 and a 1-year high of $17.18. The firm’s 50 day simple moving average is $16.34 and its 200 day simple moving average is $16.19.

BlackRock Capital Allocation Term Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a $0.2871 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $3.45 annualized dividend and a dividend yield of 21.07%. This is a boost from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10.

Institutional Investors Weigh In On BlackRock Capital Allocation Term Trust

Large investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC purchased a new position in BlackRock Capital Allocation Term Trust in the 4th quarter worth approximately $177,000. Eagle Rock Investment Company LLC purchased a new stake in BlackRock Capital Allocation Term Trust during the first quarter valued at about $298,000. Virtu Financial LLC bought a new stake in BlackRock Capital Allocation Term Trust during the fourth quarter worth about $315,000. Truist Financial Corp bought a new stake in BlackRock Capital Allocation Term Trust during the second quarter worth about $319,000. Finally, Karpus Management Inc. boosted its holdings in shares of BlackRock Capital Allocation Term Trust by 19.6% in the 4th quarter. Karpus Management Inc. now owns 26,600 shares of the company’s stock worth $398,000 after purchasing an additional 4,350 shares in the last quarter. Institutional investors own 36.12% of the company’s stock.