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In a recent transaction, Saba Capital Management, L.P., led by Boaz Weinstein, acquired 12,099 shares of BlackRock (NYSE:BLK) ESG Capital Allocation Term Trust (NYSE:ECAT) at a price of $16.55 per share. This purchase, valued at approximately $200,238, increases Saba Capital’s holdings in the trust to 28,605,041 shares. The trust, currently valued at $1.7 billion, offers an attractive dividend yield of 22.14% and trades at a P/E ratio of 6.27. InvestingPro analysis reveals the stock has maintained consistent dividend growth for four consecutive years.
The acquisition, dated February 27, 2025, reflects Saba Capital’s continued interest in the trust, which focuses on ESG (Environmental, Social, and Governance) investments. Both Saba Capital Management and Weinstein are recognized as ten percent owners of the trust, indicating their significant stake and influence in the company’s investment strategy. With the stock trading near its 52-week low of $15.96, InvestingPro subscribers can access additional insights and analysis tools to evaluate this high-yield investment opportunity.
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