BlackRock Health Sciences Term Trust (NYSE:BMEZ) Major Shareholder Purchases 2,111,351.04 in Stock

Posted by Lisa Pomrenke on Mar 27th, 2024

BlackRock Health Sciences Term Trust (NYSE:BMEZ – Get Free Report) major shareholder Saba Capital Management, L.P. bought 129,372 shares of BlackRock Health Sciences Term Trust stock in a transaction dated Tuesday, March 26th. The stock was acquired at an average price of 16.32 per share, with a total value of 2,111,351.04. Following the purchase, the insider now directly owns 20,475,713 shares of the company’s stock, valued at 334,163,636.16. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

On Thursday, February 29th, Saba Capital Management, L.P. acquired 46,958 shares of BlackRock Health Sciences Term Trust stock. The stock was purchased at an average price of 16.30 per share, with a total value of 765,415.40.
On Monday, February 26th, Saba Capital Management, L.P. bought 113,930 shares of BlackRock Health Sciences Term Trust stock. The shares were bought at an average price of 16.34 per share, with a total value of 1,861,616.20.
On Thursday, February 22nd, Saba Capital Management, L.P. purchased 154,932 shares of BlackRock Health Sciences Term Trust stock. The shares were acquired at an average cost of 16.13 per share, for a total transaction of 2,499,053.16.
On Tuesday, February 20th, Saba Capital Management, L.P. bought 193,297 shares of BlackRock Health Sciences Term Trust stock. The stock was purchased at an average cost of 15.92 per share, for a total transaction of 3,077,288.24.
On Thursday, February 15th, Saba Capital Management, L.P. acquired 41,462 shares of BlackRock Health Sciences Term Trust stock. The shares were bought at an average cost of 15.82 per share, for a total transaction of 655,928.84.
On Monday, February 12th, Saba Capital Management, L.P. bought 83,360 shares of BlackRock Health Sciences Term Trust stock. The shares were acquired at an average price of 16.08 per share, for a total transaction of 1,340,428.80.
On Friday, February 9th, Saba Capital Management, L.P. purchased 122,094 shares of BlackRock Health Sciences Term Trust stock. The stock was purchased at an average price of 15.97 per share, for a total transaction of 1,949,841.18.
On Wednesday, February 7th, Saba Capital Management, L.P. purchased 100,354 shares of BlackRock Health Sciences Term Trust stock. The shares were acquired at an average cost of 15.81 per share, with a total value of 1,586,596.74.
On Monday, February 5th, Saba Capital Management, L.P. bought 93,967 shares of BlackRock Health Sciences Term Trust stock. The stock was purchased at an average cost of 15.56 per share, with a total value of 1,462,126.52.
On Friday, February 2nd, Saba Capital Management, L.P. purchased 53,462 shares of BlackRock Health Sciences Term Trust stock. The stock was acquired at an average price of 15.60 per share, with a total value of 834,007.20.

BlackRock Health Sciences Term Trust Stock Up 0.4 %

Shares of NYSE BMEZ traded up 0.06 during midday trading on Wednesday, reaching 16.21. 76,624 shares of the stock traded hands, compared to its average volume of 348,141. BlackRock Health Sciences Term Trust has a one year low of 12.93 and a one year high of 16.95. The company’s 50 day moving average is 15.91 and its 200 day moving average is 14.78.

BlackRock Health Sciences Term Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 6.66%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Saba Capital Management L.P. lifted its position in BlackRock Health Sciences Term Trust by 28.0% in the third quarter. Saba Capital Management L.P. now owns 8,347,664 shares of the company’s stock worth $120,290,000 after buying an additional 1,827,094 shares during the last quarter. Lazard Asset Management LLC grew its stake in BlackRock Health Sciences Term Trust by 344.8% in the third quarter. Lazard Asset Management LLC now owns 642,545 shares of the company’s stock valued at $9,259,000 after purchasing an additional 498,079 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in BlackRock Health Sciences Term Trust in the third quarter valued at about $3,827,000. Karpus Management Inc. grew its stake in BlackRock Health Sciences Term Trust by 27.1% in the fourth quarter. Karpus Management Inc. now owns 1,217,589 shares of the company’s stock valued at $17,838,000 after purchasing an additional 259,464 shares during the last quarter. Finally, Wolverine Asset Management LLC grew its stake in BlackRock Health Sciences Term Trust by 260.3% in the fourth quarter. Wolverine Asset Management LLC now owns 274,318 shares of the company’s stock valued at $4,019,000 after purchasing an additional 198,177 shares during the last quarter.

About BlackRock Health Sciences Term Trust

(Get Free Report)

BlackRock Health Sciences Trust II’s (BMEZ) (the ‘Trust’) investment objective is to provide total return and income through a combination of current income, current gains and long-term capital appreciation. The Trust seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its total assets in equity securities of companies principally engaged in the health sciences group of industries and equity derivatives with exposure to the health sciences group of industries.