On September 29, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based investment firm, added 330,801 shares of BlackRock ESG Capital Allocation Trust (ECAT, Financial) to its portfolio. The shares were acquired at a price of $14.79 each, bringing the firm's total holdings in ECAT to 15,335,732 shares. This transaction represents a 2.20% change in shares and has a 0.13% impact on the firm's portfolio. The firm now holds a 5.91% position in its portfolio and a 14.98% stake in 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 a renowned investment firm with a portfolio of 624 stocks. The firm's equity stands at $3.84 billion, with its top holdings in 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 primarily invests 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 aims to provide total return and income through a combination of current income, current gains, and long-term capital appreciation. As of October 2, 2023, the company's market capitalization stands at $1.51 billion, and its stock price is $14.75. However, the company's PE percentage is currently not applicable, indicating that the company is at a loss. The GF Value of the stock is also not available, making it impossible to evaluate the stock's GF Valuation.
Performance and Financial Health of ECAT
ECAT's stock has seen a -0.27% change since the transaction and a -26.25% change since its Initial Public Offering (IPO). The stock's Year-to-Date (YTD) change stands at 8.86%. The GF Score of the stock is 22/100, indicating poor future performance potential. The stock's Financial Strength is ranked 8/10, while its Profitability Rank is 2/10. The Growth Rank, GF Value Rank, and Momentum Rank of the stock are not applicable due to insufficient data.
Market Momentum of ECAT
The stock's RSI 5-day, 9-day, and 14-day values are 49.86, 40.78, and 38.55 respectively. The Momentum Index for 6-1 month and 12-1 month are 2.73 and 20.47 respectively. The RSI 14-day rank and Momentum Index 6-1 month rank are 634 and 620 respectively.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of ECAT shares represents a significant addition to its portfolio. Despite the stock's poor performance potential and financial health, the firm's increased stake in ECAT could indicate a long-term investment strategy. For value investors, keeping track of such guru transactions can provide valuable insights into potential investment opportunities.
