NEW YORK—Saba Capital Management, L.P., led by Boaz Weinstein, has recently increased its stake in BlackRock (NYSE:BLK) Health Sciences Term Trust (NYSE:BMEZ) through a series of transactions. On October 15 and 16, the firm acquired a total of 64,716 shares at a price of $15.81 per share, amounting to an investment of approximately $1.02 million.
Following these purchases, Saba Capital now holds 20,750,913 shares of BlackRock Health Sciences Term Trust. This acquisition further solidifies Saba Capital's position as a significant stakeholder in the trust, with ownership exceeding ten percent. The transactions were reported in a Form 4 filing with the Securities and Exchange Commission, underscoring the firm's ongoing interest in the health sciences sector.
InvestingPro Insights
Saba Capital's recent investment in BlackRock Health Sciences Term Trust (NYSE:BMEZ) aligns with several attractive features of the fund. According to InvestingPro data, BMEZ boasts a substantial dividend yield of 13.33%, 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."
The trust's market capitalization stands at $1.68 billion, reflecting its significant presence in the health sciences investment space. BMEZ has demonstrated strong performance, with a year-to-date total return of 17.76% and a one-year total return of 23.63%, indicating positive momentum that may have attracted Saba Capital's increased investment.
Another InvestingPro Tip highlights that the stock "generally trades with low price volatility," which could be appealing to investors seeking stability alongside high dividend yields. This characteristic may have factored into Saba Capital's decision to expand its already substantial position in the trust.
Investors interested in a more comprehensive analysis can access additional InvestingPro Tips, with 8 more tips available for BMEZ on the InvestingPro platform.
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