On August 24, 2023, Saba Capital Management, L.P., a New York-based investment firm, added 152,017 shares of BlackRock ESG Capital Allocation Trust (ECAT, Financial) to its portfolio. The transaction, executed at a trade price of $15.16 per share, increased the firm's total holdings in ECAT to 13,687,677 shares, representing 13.37% of the traded stock and 5.41% of the firm's portfolio. The trade had an impact of 0.06% on the firm's portfolio.
About Saba Capital Management, L.P.
Saba Capital Management, L.P., located at 405 Lexington Avenue, New York, NY 10174, is an investment firm with a focus on Financial Services and Technology sectors. 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).
Details of the Transaction
The transaction saw Saba Capital Management, L.P. add 152,017 shares of ECAT to its portfolio, bringing its total holdings in the stock to 13,687,677 shares. The trade, executed at a price of $15.16 per share, represents 13.37% of the traded stock and 5.41% of the firm's portfolio. The trade had an impact of 0.06% on the firm's portfolio.
Overview of BlackRock ESG Capital Allocation Trust
BlackRock ESG Capital Allocation Trust (ECAT, Financial) is a non-diversified, closed-end management investment company based in the USA. The Trust's investment objectives are 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 $1.56 billion. The stock's current price is $15.23, and it has a PE percentage of 0.00, indicating that the company is currently at a loss. The GF Value of the stock is 0.00, meaning that the stock's current intrinsic value cannot be evaluated.
Performance of BlackRock ESG Capital Allocation Trust
Since its IPO, ECAT has seen a price change of -23.85%. The stock's year-to-date price change ratio stands at 12.4%. The stock's GF Score is 22/100, indicating poor future performance potential. The stock's Financial Strength is ranked 8/10, while its Profitability Rank is 1/10. The stock's Growth Rank is 0/10, indicating no growth in the past three years.
Financial Health of BlackRock ESG Capital Allocation Trust
ECAT's Altman Z score is 0.00, indicating that the company's financial health cannot be evaluated. The stock's cash to debt rank is 1, and it operates in the Asset Management industry. The stock's ROE and ROA are -16.09 and -14.82, respectively, indicating negative returns on equity and assets.
Momentum and Predictability of BlackRock ESG Capital Allocation Trust
ECAT's RSI 5 Day, RSI 9 Day, and RSI 14 Day are 38.84, 34.92, and 35.94, respectively. The stock's Momentum Index 6 - 1 Month is 10.38, and its Momentum Index 12 - 1 Month is 5.74. The stock's RSI 14 Day Rank is 480, and its Momentum Index 6 - 1 Month Rank is 249.
Conclusion
The recent transaction by Saba Capital Management, L.P. in ECAT represents a significant addition to the firm's portfolio. Despite the stock's poor performance indicators and negative returns, the firm's increased stake could indicate a belief in the stock's potential for future growth. However, value investors should exercise caution and conduct thorough research before making investment decisions.
