According to recent filings with the Securities and Exchange Commission, Saba Capital Management recently made significant purchases of BlackRock ESG Capital Allocation Term Trust’s common stock. The trust, which trades under the ECAT ticker on NYSE, is part of BlackRock’s suite of sustainable investment products that are focused on environmental, social and governance (“ESG”) criteria.
The credit-relative, value-focused hedge fund purchased a total of 314,036 shares via two different transactions on March 27, 2024, and March 28, 2024, with a combined value of more than $5.4 million. The first transaction saw the hedge fund purchase 110,651 shares at a $17.23 a share while the additional 203,385 shares were acquired…
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