Saba Capital Management, L.P., a 10% owner of the BlackRock ESG Capital Allocation Term Trust (NYSE: $ECAT), sold 187,774 shares on July 30, 2026. The shares fetched $15.00 apiece, translating to $2,816,610 in proceeds. A Form 4 filing reached the SEC the next day, July 31, and showed Saba still held 15,959,085 shares afterward.
That sale was the eighteenth open-market $ECAT transaction Saba executed in July. Over the full month, the firm unloaded 1,507,018 shares for roughly $23.1 million, sprinkling trades across almost every session. Daily volumes swung from 1,397 shares on July 7 to the 187,774-share block on July 30; the latter was the month's largest single-day sale. Prices fluctuated between $14.94 and $15.91. The July 30 price of $15.00 sat near the bottom of that range, just above the $14.94 print from July 29 and well below the $15.91 peak on July 14. Most transactions landed between $15.10 and $15.65.
The selling didn't start in July. Saba filed 13 open-market $ECAT sales in June 2026, offloading 931,328 shares for $14.3 million. May was even busier: 19 sales shed 1,832,450 shares, collecting $27.9 million. All told, from May through July, Saba disclosed 50 separate open-market sales of the trust's stock.
That three-month reduction followed two open-market purchases in early April 2026, when the firm bought 303,392 shares at $13.87 for roughly $4.2 million. Every sale in May, June, and July came at a higher price than that April entry point.
No other $ECAT insiders reported open-market sales in July, and no members of Congress disclosed trades in the stock during the period. Saba's July 31 filing arrived one day after the transaction, matching the rapid cadence it kept throughout the summer; most Forms 4 in the May-to-July stretch were submitted within one or two days.
Despite shrinking its stake over the quarter, Saba remained the trust's biggest shareholder at month-end, with 15,959,085 shares still on its books.