In recent transactions reported to the Securities and Exchange Commission, Saba Capital Management, L.P. disclosed the sale of shares in BlackRock (NYSE:BLK) Capital Allocation Term Trust (NYSE:BCAT). The sales, executed on November 14 and 15, involved a total of 74,023 shares at prices ranging from $16.05 to $16.35 per share. The total value of these transactions amounted to approximately $1.2 million. Following these sales, Saba Capital Management's indirect ownership stands at 14,398,612 shares.
InvestingPro Insights
As Saba Capital Management reduces its position in BlackRock Capital Allocation Term Trust (NYSE:BCAT), investors might find additional context in the fund's current market performance and dividend profile. According to InvestingPro data, BCAT boasts a substantial dividend yield of 21.56%, with the most recent ex-dividend date on November 15, 2023. This aligns with one of the InvestingPro Tips, which notes that BCAT "pays a significant dividend to shareholders."
The fund's market capitalization stands at $1.73 billion, with a price-to-earnings ratio of 8.78, suggesting a potentially attractive valuation for income-focused investors. BCAT's stock has shown positive momentum, with a year-to-date total return of 24.3% and a one-year total return of 27.5%, indicating strong performance despite Saba's recent share sales.
Another InvestingPro Tip highlights that the stock "generally trades with low price volatility," which may appeal to investors seeking stability alongside income. For those interested in a deeper analysis, InvestingPro offers 11 additional tips that could provide further insights into BCAT's investment potential.
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