BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Saba Capital Management, L.P. Acquires 282,123 Shares

Posted by Micah Haroldson on Jan 7th, 2025

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 282,123 shares of the stock in a transaction dated Monday, January 6th. The shares were bought at an average price of $7.72 per share, with a total value of $2,177,989.56. Following the completion of the acquisition, the insider now directly owns 60,615,765 shares of the company’s stock, valued at approximately $467,953,705.80. This represents a 0.47 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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 Thursday, January 2nd, Saba Capital Management, L.P. acquired 106,617 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.46 per share, for a total transaction of $795,362.82.
On Monday, December 30th, Saba Capital Management, L.P. bought 279,479 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.45 per share, with a total value of $2,082,118.55.
On Thursday, December 26th, Saba Capital Management, L.P. purchased 69,719 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.65 per share, for a total transaction of $533,350.35.
On Monday, December 16th, Saba Capital Management, L.P. acquired 350,000 shares of BlackRock Innovation and Growth Term Trust stock. The stock was 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 shares were acquired 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 acquired at an average cost 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 acquired 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 bought at an average price of $7.96 per share, for a total transaction 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 shares were purchased at an average price of $7.86 per share, with a total value 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 price of $7.60 per share, with a total value of $702,057.60.

BlackRock Innovation and Growth Term Trust Stock Performance

BIGZ traded down $0.06 during trading on Tuesday, reaching $7.68. 157,652 shares of the stock traded hands, compared to its average volume of 560,955. The stock’s 50-day moving average is $7.73 and its 200 day moving average is $7.50. BlackRock Innovation and Growth Term Trust has a 12 month low of $6.66 and a 12 month high of $8.25.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a $0.0868 dividend. The ex-dividend date is Wednesday, January 15th. This represents a $1.04 dividend on an annualized basis and a yield of 13.56%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BIGZ. PFG Investments LLC raised its holdings in shares of BlackRock Innovation and Growth Term Trust by 75.1% during the second quarter. PFG Investments LLC now owns 23,538 shares of the company’s stock valued at $170,000 after purchasing an additional 10,099 shares during the period. Prevail Innovative Wealth Advisors LLC acquired a new position in BlackRock Innovation and Growth Term Trust during the 2nd quarter worth approximately $1,931,000. J.W. Cole Advisors Inc. acquired a new stake in BlackRock Innovation and Growth Term Trust in the second quarter valued at approximately $75,000. Logan Stone Capital LLC bought a new stake in shares of BlackRock Innovation and Growth Term Trust during the second quarter valued at approximately $352,000. Finally, Sessa Capital IM L.P. lifted its holdings 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 worth $19,810,000 after purchasing an additional 356,372 shares in the last quarter.

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.