Saba Capital Management, L.P. sold 111,896 shares of $ECAT — BlackRock ESG Capital Allocation Term Trust — on June 24, 2026, at $15.25 per share, generating proceeds of approximately $1.71 million. The Form 4 filing was submitted to the SEC the following day, June 25.
The transaction is open-market and was reported under Saba's role as a 10%-or-greater owner of the closed-end fund. Following the sale, Saba held 18,042,176 shares of $ECAT, according to the filing.
The June 24 trade is part of a prolonged and consistent pattern of share reductions by the New York-based hedge fund. On June 23, Saba sold an additional 91,365 shares at $15.37 for roughly $1.40 million, and on June 22 it sold 64,443 shares at $15.50 for just under $999,000 — both filings hitting the SEC record in the same batch on June 25. The week prior, on June 16 and June 15, Saba recorded two more sales totaling approximately 118,920 shares worth roughly $1.84 million combined.
Looking further back, the activity has been nearly uninterrupted since the database's earliest record for this position. Across 139 open-market sales dating to August 28, 2025, Saba Capital has sold more than $144 million worth of $ECAT shares in aggregate. Individual daily sale totals have ranged from under $41,000 to more than $1.79 million, with the June 10 transaction — 116,920 shares at $15.23 — being one of the larger single-day prints in recent weeks.
Saba Capital is a well-known participant in the closed-end fund space, where large shareholders sometimes accumulate positions and subsequently engage with fund management or reduce holdings over time. The firm's position in $ECAT, despite the extended series of reductions, remains substantial at more than 18 million shares against a reported market capitalization of approximately $1.53 billion for the trust.
No congressional disclosures for $ECAT were identified in the database as of this filing. The pace and scale of Saba's recorded activity in $ECAT — averaging multiple transactions per week over the past several months — makes this one of the more active Form 4 filing sequences across closed-end fund names tracked on this platform.