Saba Capital Management, L.P., a 10%-or-greater owner of $ECAT, sold 111,432 shares of BlackRock ESG Capital Allocation Term Trust on June 25, 2026, at $15.40 per share, generating proceeds of approximately $1.72 million. The Form 4 filing was submitted to the SEC on June 26, one day after the transaction.
The sale was the fourth consecutive open-market reduction by the New York-based investment firm in $ECAT. Over the four trading days from June 22 through June 25, Saba Capital recorded sales on each session: 64,443 shares on June 22 at $15.50 ($998,867), 91,365 shares on June 23 at $15.37 ($1.40 million), 111,896 shares on June 24 at $15.25 ($1.71 million), and 111,432 shares on the 25th at $15.40 ($1.72 million). The four sessions combined for approximately $5.83 million in total proceeds across 379,136 shares. Following the June 25 transaction, Saba Capital reported holding 17,930,744 shares of the trust.
The activity fits a broader pattern stretching back through May. In the final week of May alone, Saba Capital sold shares on four consecutive days — May 26 through May 29 — for combined proceeds exceeding $6.28 million. Earlier in May, single-day sales exceeded $3.3 million on May 11 and $2.78 million on May 6. Across all 30 of the most recent Form 4 filings reviewed, every transaction recorded by Saba Capital in $ECAT carried a transaction type of 'S,' with no purchases logged during that span.
Saba Capital holds the role of a greater-than-10% owner in $ECAT, a closed-end fund managed by BlackRock that focuses on ESG-oriented capital allocation strategies. As a beneficial owner above the 10% threshold, the firm is subject to Section 16 reporting requirements, which mandate filing a Form 4 within two business days of each transaction. The June 25 sale met that deadline with a next-day filing.
The sustained pace of dispositions has incrementally drawn down Saba's reported stake from more than 20.8 million shares at the start of May to the 17.93 million shares on record after the most recent transaction — a reduction of roughly 2.9 million shares over the period captured in available filings.