BlackRock Capital Allocation Term Trust (NYSE:BCAT) Major Shareholder Acquires $468,111.54 in Stock

Posted by Defense World Staff on Nov 20th, 2023

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 31,866 shares of the business’s stock in a transaction on Friday, November 17th. The stock was acquired at an average cost of $14.69 per share, for a total transaction of $468,111.54. Following the transaction, the insider now owns 11,657,121 shares of the company’s stock, valued at approximately $171,243,107.49. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

On Wednesday, November 15th, Saba Capital Management, L.P. bought 235,490 shares of BlackRock Capital Allocation Term Trust stock. The stock was purchased at an average price of $14.76 per share, for a total transaction of $3,475,832.40.
On Friday, November 10th, Saba Capital Management, L.P. bought 8,722 shares of BlackRock Capital Allocation Term Trust stock. The stock was purchased at an average price of $14.54 per share, for a total transaction of $126,817.88.
On Wednesday, November 8th, Saba Capital Management, L.P. bought 83,148 shares of BlackRock Capital Allocation Term Trust stock. The stock was purchased at an average price of $14.54 per share, for a total transaction of $1,208,971.92.
On Friday, November 3rd, Saba Capital Management, L.P. bought 42,033 shares of BlackRock Capital Allocation Term Trust stock. The stock was purchased at an average price of $14.44 per share, for a total transaction of $606,956.52.
On Monday, October 30th, Saba Capital Management, L.P. bought 125,213 shares of BlackRock Capital Allocation Term Trust stock. The stock was purchased at an average price of $13.85 per share, for a total transaction of $1,734,200.05.
On Thursday, October 26th, Saba Capital Management, L.P. acquired 15,011 shares of BlackRock Capital Allocation Term Trust stock. The shares were bought at an average price of $13.75 per share, for a total transaction of $206,401.25.
On Monday, October 23rd, Saba Capital Management, L.P. acquired 67,224 shares of BlackRock Capital Allocation Term Trust stock. The shares were bought at an average price of $13.81 per share, for a total transaction of $928,363.44.

BlackRock Capital Allocation Term Trust Trading Up 0.3 %

NYSE:BCAT opened at $14.70 on Monday. BlackRock Capital Allocation Term Trust has a 52-week low of $13.67 and a 52-week high of $15.61. The business’s fifty day moving average is $14.33 and its 200 day moving average is $14.82.

BlackRock Capital Allocation Term Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, November 30th. Investors of record on Wednesday, November 15th will be paid a dividend of $0.1275 per share. This represents a $1.53 dividend on an annualized basis and a dividend yield of 10.41%. This is a positive change from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.13. The ex-dividend date is Tuesday, November 14th.

Institutional Trading of BlackRock Capital Allocation Term Trust

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Trust N.A. raised its stake in shares of BlackRock Capital Allocation Term Trust by 7.4% during the 1st quarter. Raymond James Trust N.A. now owns 28,993 shares of the company’s stock valued at $439,000 after purchasing an additional 2,000 shares during the period. Mathes Company Inc. purchased a new position in BlackRock Capital Allocation Term Trust during the second quarter worth about $1,544,000. Private Management Group Inc. grew its position in BlackRock Capital Allocation Term Trust by 12.5% during the first quarter. Private Management Group Inc. now owns 151,749 shares of the company’s stock worth $2,297,000 after buying an additional 16,817 shares in the last quarter. Insigneo Advisory Services LLC grew its position in BlackRock Capital Allocation Term Trust by 9.5% during the first quarter. Insigneo Advisory Services LLC now owns 16,304 shares of the company’s stock worth $271,000 after buying an additional 1,419 shares in the last quarter. Finally, LPL Financial LLC grew its position in BlackRock Capital Allocation Term Trust by 23.2% during the second quarter. LPL Financial LLC now owns 132,320 shares of the company’s stock worth $2,018,000 after buying an additional 24,880 shares in the last quarter. 31.63% of the stock is currently owned by institutional investors.