Saba Capital Management, L.P. Buys 69,719 Shares of BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Stock

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) major shareholder Saba Capital Management, L.P. acquired 69,719 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was purchased at an average cost of $7.65 per share, with a total value of $533,350.35. Following the transaction, the insider now owns 59,615,955 shares in the company, valued at approximately $456,062,055.75. This trade represents a 0.12 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Large 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, December 16th, Saba Capital Management, L.P. bought 350,000 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased 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. purchased 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. acquired 185,716 shares of BlackRock Innovation and Growth Term Trust stock. The stock was 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. purchased 94,924 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.98 per share, for a total transaction of $757,493.52.
• On Monday, November 25th, Saba Capital Management, L.P. acquired 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. bought 68,422 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought 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. purchased 92,376 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average price 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 shares were purchased 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 shares were 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 stock was purchased 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 %

Shares of BIGZ traded down $0.10 during midday trading on Friday, reaching $7.50. 1,028,961 shares of the stock were exchanged, compared to its average volume of 709,282. The stock’s 50 day simple moving average is $7.73 and its 200 day simple moving average is $7.49. BlackRock Innovation and Growth Term Trust has a twelve month low of $6.66 and a twelve month high of $8.25.

BlackRock Innovation and Growth Term Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, December 23rd. Shareholders of record on Monday, December 16th were given a dividend of $0.0868 per share. The ex-dividend date was Monday, December 16th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 13.88%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Sessa Capital IM L.P. increased its stake in 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 acquiring an additional 356,372 shares during the period. Penserra Capital Management LLC bought a new position in shares of BlackRock Innovation and Growth Term Trust in the third quarter worth $15,076,000. Rivernorth Capital Management LLC raised its stake in BlackRock Innovation and Growth Term Trust by 108.5% in the third quarter. Rivernorth Capital Management LLC now owns 1,142,760 shares of the company’s stock valued at $8,628,000 after purchasing an additional 594,776 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in BlackRock Innovation and Growth Term Trust during the second quarter worth about $4,192,000. Finally, Almitas Capital LLC acquired a new stake in BlackRock Innovation and Growth Term Trust during the second quarter worth about $3,928,000.

BlackRock Innovation and Growth Term Trust Company Profile

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.