Joby Aviation closes $591 million stock offering with full underwriter option
Saba Capital Management, L.P., a ten percent owner of BlackRock ESG Capital Allocation Term Trust (NYSE:ECAT), sold 158,768 shares of common stock in two transactions on September 4 and 5, 2025. The sales, which totaled $2,628,284, were executed at prices ranging from $16.55 to $16.56. The $1.65 billion trust currently offers an attractive dividend yield of 20.8%, according to InvestingPro data.
On September 4, Saba Capital Management, L.P. disposed of 91,395 shares at $16.55 per share. Following this transaction, the firm held 28,211,871 shares. The next day, September 5, the firm sold an additional 67,373 shares at $16.56 per share, leaving them with 28,144,498 shares. The stock has shown strong performance, gaining over 20% in the past year while maintaining relatively low price volatility.
Boaz Weinstein is also listed as a ten percent owner. InvestingPro analysis reveals several additional key insights about ECAT’s performance and financial health. Subscribers can access more than 4 exclusive ProTips and detailed financial metrics.
In other recent news, Institutional Shareholder Services (ISS) has advised shareholders of the BlackRock ESG Allocation Term Trust to support nine out of ten incumbent board nominees. This guidance comes as part of ISS’s recommendation against a proposal to terminate BlackRock as the investment adviser for the fund. BlackRock Advisors LLC shared the statement, highlighting the significance of ISS’s independent proxy advisory role. Additionally, Glass Lewis, another prominent proxy advisory firm, has also endorsed all incumbent nominees while opposing the termination proposal. These developments are crucial as shareholders prepare for the fund’s annual meeting. The recommendations from both ISS and Glass Lewis may influence the decision-making process of shareholders. This situation underscores the importance of proxy advisory firms in corporate governance and shareholder decisions.
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