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In a recent transaction, Saba Capital Management, L.P. sold 109,365 shares of BlackRock (NYSE:BLK) Capital Allocation Term Trust (NYSE:BCAT) at an average price of $15.69 per share. The trust, currently trading at $15.88 with a market capitalization of $1.69 billion, offers investors an impressive 22.18% dividend yield. The total value of the transaction amounted to approximately $1.7 million. Following this sale, Saba Capital Management now holds 12,959,606 shares indirectly. The transaction was reported by Boaz Weinstein, a significant owner of the trust, and was filed with the Securities and Exchange Commission on February 13, 2025. BCAT has demonstrated strong performance with a 21% total return over the past year, while maintaining relatively low price volatility. InvestingPro subscribers have access to additional insights, including multiple exclusive ProTips about BCAT's financial health and valuation metrics.
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