BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Buys $467,282.98 in Stock

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) major shareholder Saba Capital Management, L.P. bought 61,003 shares of BlackRock Innovation and Growth Term Trust stock in a transaction dated Wednesday, October 30th. The stock was purchased at an average price of $7.66 per share, with a total value of $467,282.98. Following the completion of the purchase, the insider now owns 57,142,055 shares in the company, valued at $437,708,141.30. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more 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 Monday, October 28th, Saba Capital Management, L.P. bought 123,691 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.62 per share, with a total value of $942,525.42.
• On Friday, October 25th, Saba Capital Management, L.P. bought 68,934 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.55 per share, with a total value of $520,451.70.
• On Wednesday, October 23rd, Saba Capital Management, L.P. bought 76,043 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.52 per share, with a total value of $571,843.36.
• On Monday, October 21st, Saba Capital Management, L.P. purchased 64,641 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $7.59 per share, for a total transaction of $490,625.19.
• On Friday, October 18th, Saba Capital Management, L.P. purchased 51,163 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $7.60 per share, for a total transaction of $388,838.80.
• On Wednesday, October 16th, Saba Capital Management, L.P. purchased 64,275 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $7.58 per share, for a total transaction of $487,204.50.
• On Monday, October 14th, Saba Capital Management, L.P. purchased 56,853 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $7.70 per share, for a total transaction of $437,768.10.
• On Friday, October 11th, Saba Capital Management, L.P. purchased 45,033 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $7.65 per share, for a total transaction of $344,502.45.
• On Wednesday, October 9th, Saba Capital Management, L.P. purchased 79,992 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $7.60 per share, for a total transaction of $607,939.20.
• On Monday, October 7th, Saba Capital Management, L.P. purchased 23,490 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $7.53 per share, for a total transaction of $176,879.70.

BlackRock Innovation and Growth Term Trust Price Performance

BlackRock Innovation and Growth Term Trust stock opened at $7.51 on Friday. BlackRock Innovation and Growth Term Trust has a 52 week low of $6.47 and a 52 week high of $8.25. The company’s 50 day moving average price is $7.50 and its two-hundred day moving average price is $7.37.

BlackRock Innovation and Growth Term Trust Announces Dividend

The company also recently announced a monthly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given a dividend of $0.0864 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $1.04 annualized dividend and a dividend yield of 13.81%.

Hedge Funds Weigh In On BlackRock Innovation and Growth Term Trust

Several hedge funds have recently modified their holdings of the company. Sessa Capital IM L.P. lifted its position in shares of BlackRock Innovation and Growth Term Trust by 15.0% during the 2nd quarter. Sessa Capital IM L.P. now owns 2,739,993 shares of the company’s stock worth $19,810,000 after buying an additional 356,372 shares in the last quarter. Karpus Management Inc. lifted its position in shares of BlackRock Innovation and Growth Term Trust by 24.2% during the 1st quarter. Karpus Management Inc. now owns 1,495,480 shares of the company’s stock worth $12,173,000 after buying an additional 291,622 shares in the last quarter. Wolverine Asset Management LLC bought a new position in shares of BlackRock Innovation and Growth Term Trust during the 2nd quarter worth approximately $4,192,000. Almitas Capital LLC bought a new position in shares of BlackRock Innovation and Growth Term Trust during the 2nd quarter worth approximately $3,928,000. Finally, Quarry LP increased its stake in shares of BlackRock Innovation and Growth Term Trust by 251.2% during the 2nd quarter. Quarry LP now owns 397,934 shares of the company’s stock worth $2,877,000 after purchasing an additional 284,634 shares during the last quarter.

About BlackRock Innovation and Growth Term Trust

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.