BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Acquires $533,350.35 in Stock

Posted by Doug Wharley on Dec 27th, 2024

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. bought 69,719 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were acquired at an average price of $7.65 per share, with a total value of $533,350.35. Following the completion of the purchase, the insider now directly owns 59,615,955 shares of the company’s stock, valued at approximately $456,062,055.75. The trade was a 0.12 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

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

On Monday, December 16th, Saba Capital Management, L.P. acquired 350,000 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average price of $7.91 per share, with a total value of $2,768,500.00.
On Thursday, December 12th, Saba Capital Management, L.P. bought 355,173 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.87 per share, with a total value of $2,795,211.51.
On Wednesday, December 4th, Saba Capital Management, L.P. acquired 185,716 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $8.07 per share, with a total value of $1,498,728.12.
On Monday, December 2nd, Saba Capital Management, L.P. bought 94,924 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.98 per share, for a total transaction of $757,493.52.
On Monday, November 25th, Saba Capital Management, L.P. purchased 266,732 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.96 per share, with a total value of $2,123,186.72.
On Friday, November 22nd, Saba Capital Management, L.P. acquired 68,422 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.86 per share, for a total transaction of $537,796.92.
On Tuesday, November 19th, Saba Capital Management, L.P. purchased 92,376 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.60 per share, for a total transaction of $702,057.60.
On Wednesday, November 13th, Saba Capital Management, L.P. acquired 94,406 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.82 per share, with a total value of $738,254.92.
On Monday, November 11th, Saba Capital Management, L.P. purchased 22,616 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.83 per share, with a total value of $177,083.28.
On Thursday, November 7th, Saba Capital Management, L.P. acquired 40,719 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $7.71 per share, for a total transaction of $313,943.49.

BlackRock Innovation and Growth Term Trust Stock Down 1.3 %

NYSE:BIGZ traded down $0.10 during trading hours on Friday, hitting $7.50. 1,028,961 shares of the company were exchanged, compared to its average volume of 709,282. The company has a fifty day simple moving average of $7.73 and a 200 day simple moving average of $7.49. BlackRock Innovation and Growth Term Trust has a one year low of $6.66 and a one year high of $8.25.

BlackRock Innovation and Growth Term Trust Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, December 23rd. Investors of record on Monday, December 16th were paid a $0.0868 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 13.88%. The ex-dividend date of this dividend was Monday, December 16th.

Institutional Trading of BlackRock Innovation and Growth Term Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sessa Capital IM L.P. boosted its stake in shares of BlackRock Innovation and Growth Term Trust by 15.0% in the 2nd quarter. Sessa Capital IM L.P. now owns 2,739,993 shares of the company’s stock valued at $19,810,000 after purchasing an additional 356,372 shares during the last quarter. Penserra Capital Management LLC bought a new stake in BlackRock Innovation and Growth Term Trust during the third quarter valued at $15,076,000. Rivernorth Capital Management LLC boosted its position in BlackRock Innovation and Growth Term Trust by 108.5% during the third quarter. Rivernorth Capital Management LLC now owns 1,142,760 shares of the company’s stock valued at $8,628,000 after acquiring an additional 594,776 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in BlackRock Innovation and Growth Term Trust during the 2nd quarter worth about $4,192,000. Finally, Almitas Capital LLC bought a new position in shares of BlackRock Innovation and Growth Term Trust in the 2nd quarter worth about $3,928,000.

About BlackRock Innovation and Growth Term Trust

(Get Free Report)

BlackRock Innovation and Growth Term Trust is a mutual fund launched by BlackRock, Inc and managed by BlackRock Advisors, LLC. BlackRock Innovation and Growth Term Trust is based in United States.