On November 2, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based investment firm, significantly increased its holdings in BlackRock ESG Capital Allocation Trust (ECAT, Financial). The firm added 200,254 shares at a trade price of $14.61 per share, bringing its total holdings in ECAT to 17,983,808 shares. This transaction represents a 1.13% change in Saba Capital's portfolio and increases its position in ECAT to 6.85%.
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 firm that manages a portfolio of 624 stocks, primarily in the Financial Services and Technology sectors. 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 equity is valued at $3.84 billion. 
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 $1.53 billion. The current stock price is $14.9, with a PE Percentage of 6.34, indicating its profitability. 
Financial Performance and GuruFocus Scores of BlackRock ESG Capital Allocation Trust
BlackRock ESG Capital Allocation Trust has a GF Score of 22/100, suggesting a poor future performance potential. The company's Balance Sheet Rank is 8/10, indicating a strong financial position. However, its Profitability Rank is 1/10, and its Growth Rank is 0/10, suggesting challenges in profitability and growth.
Stock Performance of BlackRock ESG Capital Allocation Trust
Since the transaction, ECAT's stock has gained 1.98%, and its year-to-date price change ratio is 9.96. The stock's momentum is strong, with a 5-day RSI of 75.28, a 9-day RSI of 61.55, and a 14-day RSI of 54.59.
Conclusion
The recent transaction by Saba Capital Management, L.P. (Trades, Portfolio) has increased its stake in BlackRock ESG Capital Allocation Trust, making it one of the firm's top holdings. Despite the low GF Score and Profitability Rank, the firm's increased investment in ECAT could be a strategic move based on the company's strong Balance Sheet Rank and the firm's confidence in the company's future prospects. As of November 4, 2023, Saba Capital Management, L.P. (Trades, Portfolio) holds 17.57% of ECAT's total shares.
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.
