BlackRock Capital Allocation Term Trust (NYSE:BCAT) Major Shareholder Saba Capital Management, L.P. Sells 44,884 Shares

BlackRock Capital Allocation Term Trust (NYSE:BCAT) major shareholder Saba Capital Management, L.P. sold 44,884 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $16.48, for a total value of $739,688.32. Following the sale, the insider now owns 16,114,773 shares in the company, valued at approximately $265,571,459.04. The sale 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 shares are required to disclose their transactions with the SEC.

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

• 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 stock was sold at an average price of $16.41, for a total transaction 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 transaction of $260,820.54.

BlackRock Capital Allocation Term Trust Stock Down 0.6 %

Shares of NYSE:BCAT opened at $16.43 on Thursday. BlackRock Capital Allocation Term Trust has a fifty-two week low of $13.67 and a fifty-two week high of $17.18. The firm has a 50-day simple moving average of $16.30 and a 200 day simple moving average of $16.24.

BlackRock Capital Allocation Term Trust Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be given a dividend of $0.2871 per share. This represents a $3.45 dividend on an annualized basis and a dividend yield of 20.97%. The ex-dividend date is Tuesday, October 15th. This is an increase from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10.

Institutional Investors Weigh In On BlackRock Capital Allocation Term Trust

A number of institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN grew its position 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 valued at $7,402,000 after buying an additional 4,437 shares during the last quarter. Stifel Financial Corp grew its position in shares of BlackRock Capital Allocation Term Trust by 30.3% during the 4th quarter. Stifel Financial Corp now owns 488,792 shares of the company’s stock valued at $7,307,000 after buying an additional 113,628 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of BlackRock Capital Allocation Term Trust by 0.9% during the 1st quarter. Commonwealth Equity Services LLC now owns 227,639 shares of the company’s stock valued at $3,792,000 after buying an additional 1,950 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of BlackRock Capital Allocation Term Trust during the 2nd quarter valued at about $2,967,000. Finally, Advisors Asset Management Inc. grew its position in BlackRock Capital Allocation Term Trust by 9.1% in 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 last quarter. Institutional investors own 36.12% of the company’s stock.

About BlackRock Capital Allocation Term Trust

–