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Saba Capital Management, a significant stakeholder in BlackRock (NYSE:BLK) Capital Allocation Term Trust (NYSE:BCAT), has recently sold a substantial amount of its shares. According to a recent SEC filing, the firm disposed of 74,625 shares over two consecutive days. The trust, currently trading at $15.34 and near its 52-week low of $15.00, has maintained a market capitalization of $1.67 billion. InvestingPro data reveals the trust trades at a P/E ratio of 8.78.
On February 20, Saba Capital Management sold 45,347 shares at an average price of $15.44 per share. The following day, an additional 29,278 shares were sold at $15.42 per share. These transactions resulted in a total sale value of approximately $1.15 million.
Following these transactions, Saba Capital Management’s holdings in BlackRock Capital Allocation Term Trust now stand at 12,634,542 shares. The sales were executed under indirect ownership, as indicated in the filing, with no equity swaps involved. Notably, BCAT offers investors an attractive dividend yield of 22.52%. For more detailed financial metrics and insights, including the trust’s complete financial health analysis, visit InvestingPro.
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