BlackRock Capital Allocation Term Trust (NYSE:BCAT) Major Shareholder Saba Capital Management, L.P. Sells 33,209 Shares

BlackRock Capital Allocation Term Trust (NYSE:BCAT) major shareholder Saba Capital Management, L.P. sold 33,209 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $16.44, for a total transaction of $545,955.96. Following the transaction, the insider now directly owns 16,185,465 shares of the company’s stock, valued at $266,089,044.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large 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 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 Price Performance

NYSE:BCAT traded down $0.03 during trading hours on Tuesday, reaching $16.37. 310,796 shares of the company traded hands, compared to its average volume of 351,374. 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 moving average is $16.31 and its 200-day moving average is $16.21.

BlackRock Capital Allocation Term Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.2871 per share. This is a positive change from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10. This represents a $3.45 annualized dividend and a dividend yield of 21.05%. The ex-dividend date of this dividend is Tuesday, October 15th.

Hedge Funds Weigh In On BlackRock Capital Allocation Term Trust

Hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC purchased a new stake in shares of BlackRock Capital Allocation Term Trust during the fourth quarter valued at approximately $177,000. UBS Group AG lifted 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 buying an additional 116,638 shares in the last quarter. Wells Fargo & Company MN boosted its position in BlackRock Capital Allocation Term Trust by 0.9% in the 4th quarter. Wells Fargo & Company MN now owns 495,095 shares of the company’s stock valued at $7,402,000 after buying an additional 4,437 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of BlackRock Capital Allocation Term Trust by 30.3% in the fourth quarter. Stifel Financial Corp now owns 488,792 shares of the company’s stock worth $7,307,000 after acquiring an additional 113,628 shares in the last quarter. Finally, Karpus Management Inc. boosted its holdings in BlackRock Capital Allocation Term Trust by 19.6% in the fourth quarter. Karpus Management Inc. now owns 26,600 shares of the company’s stock valued at $398,000 after purchasing an additional 4,350 shares during the last quarter. Institutional investors and hedge funds own 36.12% of the company’s stock.

About BlackRock Capital Allocation Term Trust

–