NEW YORK—Saba Capital Management, L.P., a prominent investment firm, recently disclosed significant sales of shares in BlackRock (NYSE:BLK) Capital Allocation Term Trust (NYSE:BCAT), a closed-end fund with a market capitalization of $1.75 billion. According to the latest SEC filings, the firm sold a total of 48,958 shares over two transactions on December 3 and 4, 2024. The shares were sold at prices ranging from $16.22 to $16.27 per share, amounting to a total transaction value of $795,983. The fund currently offers an attractive dividend yield of 21.28% and has delivered impressive year-to-date returns of 25.93%.
Following these sales, Saba Capital now holds 13,946,340 shares of BlackRock Capital Allocation Term Trust. According to InvestingPro, BCAT generally trades with low price volatility and maintains a strong financial health score. These transactions reflect Saba Capital's continued strategic adjustments in its investment portfolio.
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