Saba Capital Management, L.P., a significant stakeholder in BlackRock (NYSE:) Capital Allocation Term Trust (NYSE:BCAT), has reported a sale of 28,670 shares of the company’s common stock. The shares were sold at a price of $16.27 each, amounting to a total transaction value of approximately $466,460. Following this transaction, Saba Capital’s holdings in BlackRock Capital stand at 14,888,870 shares. The transaction was executed on October 21, 2024, and reported by Boaz Weinstein and Saba Capital Management.
InvestingPro Insights
While Saba Capital Management has reduced its position in BlackRock Capital Allocation Term Trust (NYSE:BCAT), individual investors might find the trust’s current financial metrics intriguing. According to InvestingPro data, BCAT boasts a remarkable dividend yield of 21.27%, with the most recent ex-dividend date on October 15, 2024. This aligns with one of the InvestingPro Tips, which notes that BCAT “pays a significant dividend to shareholders.”
The trust’s market capitalization stands at $1.74 billion, with a price-to-earnings ratio of 8.78, suggesting a potentially attractive valuation for income-focused investors. Moreover, BCAT has demonstrated solid performance, with a year-to-date total return of 23.18% and a one-year total return of 36.36%.
Another InvestingPro Tip highlights that the stock “generally trades with low price volatility,” which could appeal to risk-averse investors seeking stable income streams. It’s worth noting that InvestingPro offers additional insights, with 11 more tips available for subscribers looking to deepen their analysis of BCAT’s investment potential.
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