Saba Capital Management, L.P., a significant shareholder in BlackRock (NYSE:BLK) Capital Allocation Term Trust (NYSE:BCAT), reported the sale of 1,578 shares of common stock. The shares were sold at a price of $15.98 each, totaling $25,216. Following this transaction, Saba Capital Management continues to hold 14,637,782 shares indirectly. The transaction was disclosed in a recent SEC filing dated November 5, 2024.
InvestingPro Insights
While Saba Capital Management has slightly reduced its position in BlackRock Capital Allocation Term Trust (NYSE:BCAT), the trust continues to offer attractive features for income-focused investors. According to InvestingPro data, BCAT boasts a remarkable dividend yield of 21.45% for 2024, 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 current market capitalization stands at $1.73 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 the InvestingPro Tip that the "stock generally trades with low price volatility."
BCAT's share price has shown resilience, currently trading at 94.53% of its 52-week high, with a previous closing price of $16.14. The trust has demonstrated positive price performance across various timeframes, including a 28.56% total return over the past year and a 22.72% return year-to-date.
For investors seeking more comprehensive analysis, InvestingPro offers additional tips and insights beyond the four mentioned here, providing a deeper understanding of BCAT's investment profile.
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