Insider Selling: BlackRock Capital Allocation Term Trust (NYSE:BCAT) Major Shareholder Sells $1,095,606.88 in Stock

Posted by Joseph McCarthy on Oct 11th, 2024

BlackRock Capital Allocation Term Trust (NYSE:BCAT – Get Free Report) major shareholder Saba Capital Management, L.P. sold 66,481 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $16.48, for a total transaction of $1,095,606.88. Following the completion of the sale, the insider now owns 15,603,000 shares of the company’s stock, valued at approximately $257,137,440. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

On Wednesday, October 9th, Saba Capital Management, L.P. sold 72,094 shares of BlackRock Capital Allocation Term Trust stock. The stock was sold at an average price of $16.45, for a total transaction of $1,185,946.30.
On Friday, October 4th, Saba Capital Management, L.P. sold 52,067 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.47, for a total transaction of $857,543.49.
On Wednesday, October 2nd, Saba Capital Management, L.P. sold 75,831 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.48, for a total transaction of $1,249,694.88.
On Monday, September 30th, Saba Capital Management, L.P. sold 44,884 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.48, for a total transaction of $739,688.32.
On Wednesday, September 25th, Saba Capital Management, L.P. sold 8,800 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.44, for a total transaction of $144,672.00.
On Monday, September 23rd, Saba Capital Management, L.P. sold 33,209 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.44, for a total transaction of $545,955.96.
On Thursday, September 19th, Saba Capital Management, L.P. sold 14,973 shares of BlackRock Capital Allocation Term Trust stock. The shares were sold at an average price of $16.41, for a total transaction of $245,706.93.
On Tuesday, September 17th, Saba Capital Management, L.P. sold 15,894 shares of BlackRock Capital Allocation Term Trust stock. The stock was sold at an average price of $16.41, for a total transaction of $260,820.54.

BlackRock Capital Allocation Term Trust Stock Down 0.2 %

Shares of BCAT opened at $16.45 on Friday. BlackRock Capital Allocation Term Trust has a 12 month low of $13.67 and a 12 month high of $17.18. The firm’s 50 day moving average is $16.33 and its 200-day moving average is $16.26.

BlackRock Capital Allocation Term Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be given a dividend of $0.2871 per share. This is a positive change from BlackRock Capital Allocation Term Trust’s previous monthly dividend of $0.10. The ex-dividend date is Tuesday, October 15th. This represents a $3.45 annualized dividend and a dividend yield of 20.95%.

Institutional Trading of BlackRock Capital Allocation Term Trust

Several large investors have recently made changes to their positions in the company. Fountainhead AM LLC boosted its position in shares of BlackRock Capital Allocation Term Trust by 2.0% during the 1st quarter. Fountainhead AM LLC now owns 47,570 shares of the company’s stock worth $793,000 after acquiring an additional 921 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in BlackRock Capital Allocation Term Trust by 0.9% in the first quarter. Commonwealth Equity Services LLC now owns 227,639 shares of the company’s stock valued at $3,792,000 after buying an additional 1,950 shares in the last quarter. Ironsides Asset Advisors LLC boosted its position in BlackRock Capital Allocation Term Trust by 14.1% in the first quarter. Ironsides Asset Advisors LLC now owns 29,133 shares of the company’s stock valued at $485,000 after buying an additional 3,606 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its position in BlackRock Capital Allocation Term Trust by 4.0% in the second quarter. Blue Bell Private Wealth Management LLC now owns 104,722 shares of the company’s stock valued at $1,718,000 after buying an additional 4,059 shares in the last quarter. Finally, Transcend Capital Advisors LLC boosted its position in BlackRock Capital Allocation Term Trust by 7.3% in the second quarter. Transcend Capital Advisors LLC now owns 65,207 shares of the company’s stock valued at $1,070,000 after buying an additional 4,435 shares in the last quarter. Institutional investors and hedge funds own 36.12% of the company’s stock.