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 (NASDAQ:ECAT), sold 5,776 shares of common stock on September 16, 2025. The shares were sold at a price of $16.51, for a total value of $95,361. The trust, currently valued at $1.62 billion, has demonstrated strong performance with a 17.6% return year-to-date and offers an impressive 21.1% dividend yield. According to InvestingPro, ECAT has maintained a consistent dividend growth track record for 4 consecutive years.
Following the transaction, Saba Capital Management, L.P. still owns 27,849,571 shares of BlackRock ESG Capital Allocation Term Trust. InvestingPro analysis reveals the stock typically trades with low volatility, making it an interesting option for stability-focused investors. Subscribers can access additional insights and metrics on ECAT’s financial health and valuation.
In other recent news, Institutional Shareholder Services (ISS) has advised shareholders of BlackRock ESG Allocation Term Trust to support nine out of ten current board nominees. ISS has also recommended voting against a proposal to terminate BlackRock as the investment adviser. This guidance comes ahead of the fund’s annual meeting, where decisions on board composition and advisory roles are set to be made. Glass Lewis, another proxy advisory firm, has similarly endorsed all incumbent nominees and opposed the termination proposal. These recommendations by prominent advisory firms could influence shareholder decisions during the meeting. The fund’s management and advisory roles are under scrutiny, highlighting the importance of governance in investment trusts.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.