Saba Capital Management, LP, a major shareholder in BlackRock (NYSE:) Capital Allocation Term Trust (NYSE:BCAT), recently sold shares totaling approximately $1.4 million. The transactions, reported on November 12, 2024, involved the sale of 47,389 shares on November 8 at $16.36 per share and 37,728 shares on November 11 at $16.43 per share. Following these transactions, Saba Capital Management retains ownership of 14,552,665 shares.
Boaz Weinstein, also listed as a ten percent owner, was part of the filing, indicating his involvement in the transactions. Both Weinstein and Saba Capital Management are based in New York.
InvestingPro Insights
While Saba Capital Management has reduced its stake in BlackRock Capital Allocation Term Trust (NYSE:BCAT), the trust still offers attractive features for income-focused investors. According to data from InvestingPro, BCAT boasts a notable dividend yield of 21.19% for 2024, with the most recent ex-dividend date being October 15, 2024. This aligns with one of InvestingPro’s tips, which highlights that BCAT “pays a significant dividend to shareholders.”
The trust’s current market capitalization stands at $1.76 billion, with a price-to-earnings ratio of 8.78, suggesting a potentially undervalued position relative to earnings. This valuation metric could be of interest to value investors, especially when considered alongside InvestingPro’s advice that “stocks generally trade with low price volatility.”
BCAT’s year-to-date total price return of 24.24% indicates a strong performance in 2024, with the stock trading within 94.99% of its 52-week high. This positive momentum is further supported by consistent gains over various time frames, including a 6.15% return over the past three months and a 29% return over the past year.
For investors looking for a more comprehensive analysis, InvestingPro offers additional tips and metrics beyond those mentioned here. Currently, the platform lists several more ideas that could provide valuable context for BCAT’s investment potential.
This article was generated with the support of AI and reviewed by an editor. For more information consult our T&C.