On September 15, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based investment firm, added 163,357 shares of BlackRock ESG Capital Allocation Trust (ECAT, Financial) to its portfolio. The transaction was executed at a price of $15.04 per share, bringing the firm's total holdings in ECAT to 14,463,269 shares. This acquisition represents a 1.14% change in shares and has a 0.06% impact on the firm's portfolio. The firm's current position in ECAT now stands at 5.67%, while its holdings represent 14.13% of the total shares of ECAT.
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 currently holds 624 stocks, with a total equity of $3.84 billion. 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.
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 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 $1.54 billion. The stock's current price is $15.065. However, due to insufficient data, the GF Valuation and GF Value of the stock cannot be evaluated.
Performance and Financial Health of ECAT
Since its IPO, ECAT has experienced a price change of -24.68%. However, the stock has gained 0.17% since the transaction and has a year-to-date price change ratio of 11.18%. The stock's GF Score is 22/100, indicating poor future performance potential. In terms of financial strength, ECAT has a balance sheet rank of 8/10, a profitability rank of 2/10, and a growth rank of 0/10. The stock's Altman Z score is 0.00, indicating potential financial distress.
Predictability and Momentum of ECAT
Due to insufficient data, the predictability rank of ECAT is not available. The stock's 5-day, 9-day, and 14-day RSI are 16.86, 28.84, and 34.35 respectively. The momentum index for 6 - 1 month is 3.94, while for 12 - 1 month, it is 8.74. The RSI 14-day rank is 354, and the momentum index 6 - 1 month rank is 444.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of ECAT shares represents a significant addition to its portfolio. Despite ECAT's poor performance and financial health indicators, the firm's increased stake could indicate a belief in the stock's potential for future growth. However, given the stock's current performance and financial health, value investors should exercise caution and conduct thorough research before considering an investment in ECAT.
