Saba Capital Management, L.P. has formally disclosed a reduction in its position within the BlackRock ESG Capital Allocation Term Trust (NASDAQ: ECAT). The New York-based investment firm sold common stock from the trust, with total proceeds reaching approximately $3.1 million. These transactions were executed over a two-day period, with shares changing hands at prices ranging between $15.25 and $15.37. The trust's shares are currently trading at $15.40, reflecting a 20% return over the trailing twelve months.
The firm, identified as a ten percent owner of the trust, reported these activities through a Form 4 filing. On June 23, 2026, Saba Capital disposed of 91,365 shares at a price of $15.37 per share. Following this initial transaction, the firm's indirect holding in the trust stood at 18,154,072 shares.
The reduction continued the following day, June 24, 2026, when the firm sold an additional 111,896 shares at $15.25 per share. After this second transaction, Saba Capital Management's indirect ownership in BlackRock ESG Capital Allocation Term Trust decreased to 18,042,176 shares. Despite the recent sales, ECAT continues to pay a significant dividend to shareholders with a yield of approximately 21%.