Insider Selling: BlackRock Capital Allocation Term Trust (NYSE:BCAT) Major Shareholder Sells $1,249,694.88 in Stock

Posted by Don Miller on Oct 6th, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) major shareholder Saba Capital Management, L.P. sold 75,831 shares of BlackRock Capital Allocation Term Trust stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $16.48, for a total value of $1,249,694.88. Following the transaction, the insider now directly owns 15,721,648 shares of the company’s stock, valued at approximately $259,092,759.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 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 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 value of $144,672.00.
On Monday, September 23rd, Saba Capital Management, L.P. sold 33,209 shares of BlackRock Capital Allocation Term Trust stock. The stock was sold at an average price of $16.44, for a total transaction of $545,955.96.
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 shares were sold at an average price of $16.41, for a total value of $260,820.54.

BlackRock Capital Allocation Term Trust Price Performance

Shares of NYSE:BCAT opened at $16.46 on Friday. The stock’s 50-day moving average price is $16.32 and its two-hundred day moving average price is $16.25. BlackRock Capital Allocation Term Trust has a 12-month low of $13.67 and a 12-month high of $17.18.

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 $0.2871 dividend. This represents a $3.45 dividend on an annualized basis and a yield of 20.93%. 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.

Hedge Funds Weigh In On BlackRock Capital Allocation Term Trust

A number of large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its holdings in shares of BlackRock Capital Allocation Term Trust by 0.9% during the 4th quarter. Wells Fargo & Company MN now owns 495,095 shares of the company’s stock worth $7,402,000 after buying an additional 4,437 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of BlackRock Capital Allocation Term Trust by 30.3% in the 4th quarter. Stifel Financial Corp now owns 488,792 shares of the company’s stock worth $7,307,000 after purchasing an additional 113,628 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of BlackRock Capital Allocation Term Trust by 0.9% in the 1st quarter. Commonwealth Equity Services LLC now owns 227,639 shares of the company’s stock worth $3,792,000 after purchasing an additional 1,950 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of BlackRock Capital Allocation Term Trust in the 2nd quarter valued at about $2,967,000. Finally, Advisors Asset Management Inc. grew its holdings in shares of BlackRock Capital Allocation Term Trust by 9.1% during the 1st quarter. Advisors Asset Management Inc. now owns 189,291 shares of the company’s stock worth $3,154,000 after purchasing an additional 15,763 shares during the period. Hedge funds and other institutional investors own 36.12% of the company’s stock.