Saba Capital Management, L.P., a 10%+ owner of BlackRock ESG Capital Allocation Term Trust ($ECAT), sold 158,002 shares on July 29, 2026, at $14.94 per share. The open-market transaction totaled $2,360,549.88 and was disclosed in a Form 4 filing dated July 30, one day after the trade. After the sale, Saba reported holding 16,146,859 shares.
The July 29 sale extended a sequence of open-market dispositions that began on April 30, 2026. The selling streak followed two purchases by Saba earlier that spring: 259,382 shares on April 1 at $13.87 per share, and 44,010 shares on April 2 at the same price. Those acquisitions brought Saba's total position to 21,718,771 shares.
Starting on April 30, the firm began reducing that position. Across 50 open-market sales executed through July 29, Saba sold a combined 4,206,761 shares for aggregate proceeds of approximately $64.4 million. The per-share prices received across those 50 transactions ranged from $14.80 to $15.91. After the full sequence, Saba's stake stood at 16,146,859 shares — a decline of 5,571,912 shares, or roughly 25.7%, from the position size reported after the April purchases.
The sales occurred on nearly every trading day across the three-month window. The largest single-day sale in the streak was 216,297 shares on May 11. The July 29 transaction of 158,002 shares at $14.94 was among the larger individual daily dispositions and fell toward the lower end of the price range observed across the streak.
While Saba was selling, another $ECAT insider moved in the opposite direction. Richard M. Rieder, whose Form 4 filing listed his role as "Other," purchased 35,734 shares on July 13 at $15.86 per share. That acquisition was valued at $566,648 and brought Rieder's reported holdings to 141,464 shares.
No members of Congress disclosed trades in $ECAT during the months Saba was reducing its position, according to STOCK Act filings.
Saba Capital Management, founded by Boaz Weinstein, is a credit-focused hedge fund that frequently holds positions in closed-end funds, including those managed by BlackRock. The $ECAT sales during the spring and summer of 2026 were all open-market transactions executed across public exchanges.