BlackRock Capital Allocation Term Trust (NYSE:BCAT) Major Shareholder Sells $245,706.93 in Stock

Posted by Defense World Staff on Sep 23rd, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) major shareholder Saba Capital Management, L.P. sold 14,973 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $16.41, for a total transaction of $245,706.93. Following the completion of the transaction, the insider now owns 16,302,733 shares in the company, valued at $267,527,848.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 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 transaction of $260,820.54.

BlackRock Capital Allocation Term Trust Stock Up 0.3 %

BCAT traded up $0.05 during trading on Monday, hitting $16.46. The company’s stock had a trading volume of 132,897 shares, compared to its average volume of 350,773. BlackRock Capital Allocation Term Trust has a one year low of $13.67 and a one year high of $17.18. The business’s 50 day simple moving average is $16.32 and its 200-day simple moving average is $16.20.

BlackRock Capital Allocation Term Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be given a $0.2871 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This is an increase from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10. This represents a $3.45 annualized dividend and a yield of 20.93%.

Institutional Trading of BlackRock Capital Allocation Term Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC bought a new stake in BlackRock Capital Allocation Term Trust during the 2nd quarter valued at about $2,967,000. Truist Financial Corp acquired a new stake in BlackRock Capital Allocation Term Trust in the second quarter worth about $319,000. Quarry LP grew its stake in shares of BlackRock Capital Allocation Term Trust by 68.4% during the second quarter. Quarry LP now owns 69,034 shares of the company’s stock worth $1,133,000 after acquiring an additional 28,045 shares during the last quarter. Almitas Capital LLC acquired a new position in shares of BlackRock Capital Allocation Term Trust during the second quarter valued at about $728,000. Finally, Prevail Innovative Wealth Advisors LLC purchased a new position in shares of BlackRock Capital Allocation Term Trust in the 2nd quarter valued at approximately $1,452,000. 36.12% of the stock is owned by hedge funds and other institutional investors.