BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Saba Capital Management, L.P. Buys 350,000 Shares

Posted by Micah Haroldson on Dec 17th, 2024

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 350,000 shares of BlackRock Innovation and Growth Term Trust stock in a transaction on Monday, December 16th. The stock was acquired at an average price of $7.91 per share, with a total value of $2,768,500.00. Following the purchase, the insider now directly owns 59,546,236 shares in the company, valued at approximately $471,010,726.76. This trade represents a 0.59 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock 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, December 12th, Saba Capital Management, L.P. purchased 355,173 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.87 per share, for a total transaction of $2,795,211.51.
On Wednesday, December 4th, Saba Capital Management, L.P. purchased 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. acquired 94,924 shares of BlackRock Innovation and Growth Term Trust stock. The stock was 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. bought 266,732 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.96 per share, with a total value of $2,123,186.72.
On Friday, November 22nd, Saba Capital Management, L.P. purchased 68,422 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.86 per share, for a total transaction of $537,796.92.
On Tuesday, November 19th, Saba Capital Management, L.P. acquired 92,376 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.60 per share, with a total value of $702,057.60.
On Wednesday, November 13th, Saba Capital Management, L.P. bought 94,406 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.82 per share, for a total transaction of $738,254.92.
On Monday, November 11th, Saba Capital Management, L.P. acquired 22,616 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost 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 shares were acquired at an average cost of $7.71 per share, for a total transaction of $313,943.49.
On Tuesday, November 5th, Saba Capital Management, L.P. bought 16,939 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.47 per share, with a total value of $126,534.33.

BlackRock Innovation and Growth Term Trust Trading Down 1.3 %

BIGZ stock traded down $0.10 during midday trading on Tuesday, reaching $7.81. 601,780 shares of the company’s stock traded hands, compared to its average volume of 700,499. BlackRock Innovation and Growth Term Trust has a 52 week low of $6.66 and a 52 week high of $8.25. The company has a 50-day moving average price of $7.74 and a two-hundred day moving average price of $7.48.

BlackRock Innovation and Growth Term Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 16th will be issued a dividend of $0.0868 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.04 dividend on an annualized basis and a yield of 13.33%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors increased its holdings in shares of BlackRock Innovation and Growth Term Trust by 4.8% in the third quarter. Captrust Financial Advisors now owns 32,800 shares of the company’s stock worth $248,000 after purchasing an additional 1,500 shares during the period. Tempus Wealth Planning LLC bought a new position in BlackRock Innovation and Growth Term Trust in the 2nd quarter worth about $76,000. Blue Bell Private Wealth Management LLC raised its holdings in shares of BlackRock Innovation and Growth Term Trust by 56.9% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 368,889 shares of the company’s stock valued at $2,667,000 after acquiring an additional 133,761 shares in the last quarter. PFG Investments LLC raised its holdings in shares of BlackRock Innovation and Growth Term Trust by 75.1% in the 2nd quarter. PFG Investments LLC now owns 23,538 shares of the company’s stock valued at $170,000 after acquiring an additional 10,099 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of BlackRock Innovation and Growth Term Trust during the 3rd quarter valued at about $1,690,000.

BlackRock Innovation and Growth Term Trust Company Profile

(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.