Saba Capital Management, L.P., a significant shareholder in BlackRock (NYSE:BLK) Health Sciences Term Trust (NYSE:BMEZ), has recently increased its holdings in the company. On October 14, the firm purchased 15,281 shares of common stock at a price of $15.87 per share. This acquisition represents a total investment of approximately $242,509.
Following this transaction, Saba Capital Management now holds a total of 20,686,197 shares in the trust. The transaction was disclosed in a filing with the Securities and Exchange Commission, signed by Zachary Gindes on behalf of Saba Capital Management and Boaz Weinstein, another ten percent owner.
InvestingPro Insights
The recent acquisition by Saba Capital Management aligns with several attractive features of BlackRock Health Sciences Term Trust (NYSE:BMEZ). According to InvestingPro data, BMEZ offers a substantial dividend yield of 13.42%, with the most recent ex-dividend date on October 15, 2024. This high yield supports one of the InvestingPro Tips, which notes that BMEZ "pays a significant dividend to shareholders."
Additionally, BMEZ has shown strong performance across various timeframes. The trust has delivered a 23.41% total return over the past year and is currently trading at 95.18% of its 52-week high. This performance is particularly noteworthy given another InvestingPro Tip indicating that the "stock generally trades with low price volatility," suggesting a potentially stable investment for risk-averse investors.
While these metrics paint a positive picture, it's important to note that InvestingPro offers additional insights that could provide a more comprehensive view of BMEZ's investment potential. Investors seeking a deeper analysis can access 4 more InvestingPro Tips for BMEZ, offering a broader perspective on the trust's financial health and market position.
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