Joby Aviation closes $591 million stock offering with full underwriter option
Saba Capital Management, along with Boaz Weinstein, reported selling 79,152 shares of BlackRock ESG Capital Allocation Term Trust EXCHANGE:ECAT common stock on September 8, 2025. The $1.65 billion market cap trust has demonstrated strong performance with a 17.75% year-to-date return. The shares were sold at a price of $16.66, totaling $1.32 million. Following the transaction, Saba Capital Management still owns 28,065,346 shares of the company. The trust currently offers an impressive 20.73% dividend yield and has raised its dividend for four consecutive years. InvestingPro analysis reveals several more key insights about ECAT’s dividend sustainability and market performance, with additional ProTips available to subscribers.
In other recent news, BlackRock ESG Allocation Term Trust has been in the spotlight due to recommendations from major proxy advisory firms. Institutional Shareholder Services (ISS) has advised shareholders to support nine out of ten incumbent board nominees. Additionally, ISS has recommended voting against a proposal to remove BlackRock as the investment adviser for the fund. This advice aligns with a previous endorsement from Glass Lewis, another influential proxy advisory firm, which also supported all incumbent nominees and opposed the termination proposal. These developments are crucial as they come ahead of the Fund’s annual meeting. The recommendations by ISS and Glass Lewis could significantly influence shareholder decisions. Investors are closely watching these updates as they consider their votes.
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