On October 27, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based firm, added 106,426 shares of BlackRock ESG Capital Allocation Trust (ECAT, Financial) to its portfolio. The shares were acquired at a price of $14.11 each, bringing the firm's total holdings in ECAT to 17,575,798 shares. This transaction represents a 0.61% change in shares and has a 0.04% impact on the firm's portfolio. The firm now holds a 6.46% position in its portfolio and a 17.17% stake in ECAT.
About Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio) is a firm that manages $3.84 billion in equity. The firm's 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 investment philosophy is primarily focused on the Financial Services and Technology sectors. The firm is located at 405 Lexington Avenue, New York, NY 10174.
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 business aims to provide total return and income through a combination of current income, current gains, and long-term capital appreciation. The company operates in a single segment and has a market capitalization of $1.45 billion.
BlackRock ESG Capital Allocation Trust's Stock Performance
As of October 31, 2023, ECAT's stock price stands at $14.21, with a PE percentage of 6.05. The stock has seen a year-to-date price change ratio of 4.87%. However, the stock's GF Score is 22/100, indicating poor future performance potential.
Financial Health of BlackRock ESG Capital Allocation Trust
BlackRock ESG Capital Allocation Trust has a balance sheet rank of 8/10 and a profitability rank of 1/10. The company's ROE and ROA stand at 13.55 and 12.30 respectively, indicating its efficiency in generating profits from its equity and assets.
Growth Prospects of BlackRock ESG Capital Allocation Trust
The company's growth rank is 0/10, indicating no significant growth in the recent past. There is no available data for the company's gross margin growth, operating margin growth, and three-year revenue, EBITDA, and earning growth.
Market Momentum of BlackRock ESG Capital Allocation Trust
The company's market momentum includes its RSI 5 Day of 21.90, RSI 9 Day of 28.31, and RSI 14 Day of 31.64. The company's momentum index 6 - 1 month is -4.70 and momentum index 12 - 1 month is 7.56, indicating its recent market trends.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of additional shares in BlackRock ESG Capital Allocation Trust is a significant move that increases its stake in the company. Despite the low GF Score and growth rank of ECAT, the firm's decision to increase its holdings may be based on other factors not captured in these metrics. As always, investors are advised to conduct their own comprehensive analysis 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.
