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Saba Capital Management, L.P., a significant stakeholder in BlackRock (NYSE:BLK) Capital Allocation Term Trust (NYSE:BCAT), recently reported a sale of shares valued at $99,447. The transaction, which took place on January 27, involved the disposal of 6,383 shares at an average price of $15.58 per share. Following this sale, Saba Capital retains ownership of approximately 13.6 million shares in the trust. The $1.66 billion market cap fund currently offers an attractive 22.44% dividend yield and trades at a P/E ratio of 8.78, according to InvestingPro data.
The transaction was disclosed in a filing with the Securities and Exchange Commission, signed by Zachary Gindes on behalf of Saba Capital Management, and by Boaz Weinstein, another major stakeholder. InvestingPro analysis reveals the trust generally trades with low price volatility and is currently trading near its 52-week low of $15.00. This move is part of routine portfolio management by Saba Capital, which holds more than ten percent of the trust’s shares.
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