On October 13, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based investment firm, added 268,450 shares of BlackRock ESG Capital Allocation Trust (ECAT, Financial) to its portfolio. The transaction was executed at a price of $14.9 per share, bringing the firm's total holdings in ECAT to 16,366,459 shares. This acquisition represents a 1.67% change in shares and has a 0.1% impact on the firm's portfolio. The firm's current position in ECAT now stands at 6.35%, while its holdings represent 15.99% of the traded stock.
About Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio), located at 405 Lexington Avenue, New York, NY 10174, is an investment firm with a diverse portfolio. The firm's equity stands at $3.84 billion, spread across 624 stocks. Its top holdings include Templeton Global Income Fund (GIM, Financial), BlackRock Capital Allocation Trust (BCAT, Financial), BlackRock Health Sciences Trust II (BMEZ, Financial), BlackRock Innovation & Growth Tr (BIGZ, Financial), and BlackRock ESG Capital Allocation Trust (ECAT, Financial). The firm's investments are primarily concentrated in the Financial Services and Technology sectors.
BlackRock ESG Capital Allocation Trust Overview
BlackRock ESG Capital Allocation Trust (ECAT, Financial) is a non-diversified, closed-end management investment company based in the USA. The company's objective is to provide total return and income through a combination of current income, current gains, and long-term capital appreciation. ECAT operates in a single segment and has a market capitalization of $1.52 billion. The stock's current price is $14.83, representing a 0.47% decrease since the transaction.
Stock Performance and Financial Health
ECAT's PE percentage stands at 6.31, indicating that the company is profitable. However, due to insufficient data, the GF Valuation cannot be evaluated. The stock has experienced a year-to-date price change ratio of 9.45%, but has declined by 25.85% since its Initial Public Offering (IPO). The GF Score of ECAT is 20/100, suggesting a poor future performance potential. The company's financial strength is ranked 8/10, while its profitability rank is 1/10. The growth rank and GF Value Rank are both 0/10, indicating a lack of growth and value data.
Return on Equity and Assets
ECAT's return on equity (ROE) is 13.55, ranking 276th, and its return on assets (ROA) is 12.30, ranking 212th. These figures suggest that the company is generating a reasonable return on its equity and assets.
Stock Momentum and Predictability
The stock's 5-day, 9-day, and 14-day Relative Strength Index (RSI) are 22.63, 25.90, and 28.55 respectively. The momentum index for 6 - 1 month is -1.24, while for 12 - 1 month, it is 15.14. However, the stock's predictability rank is not available due to insufficient data.
Transaction Impact Analysis
The recent acquisition by Saba Capital Management, L.P. (Trades, Portfolio) has increased its influence in ECAT, making it one of the firm's top holdings. Despite the stock's recent performance and low GF Score, the firm's increased stake suggests confidence in the stock's future prospects. However, investors should conduct their own research and consider the stock's financial health and market performance before making investment decisions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
