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Saba Capital Management, L.P., a significant stakeholder in BlackRock (NYSE:BLK) Capital Allocation Term Trust (NYSE:BCAT), recently executed a substantial sale of common stock in the $1.65 billion market cap trust. BCAT currently offers an impressive 22.53% dividend yield, making it a notable income-generating investment vehicle. According to the latest SEC filing, Saba Capital sold a total of 114,841 shares over two days, February 27 and 28. The shares were sold at prices ranging from $15.31 to $15.33 per share, resulting in a total transaction value of approximately $1.76 million. The trust, which trades with notably low price volatility according to InvestingPro analysis, is currently trading near its 52-week low at $15.51. Following these transactions, Saba Capital’s holdings in the trust have decreased to 12,475,229 shares. Discover more key metrics and 5 additional investment tips with InvestingPro.
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