Saba Capital Management, L.P. Acquires 42,236 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 42,236 shares of BlackRock Innovation and Growth Term Trust stock in a transaction that occurred on Friday, July 5th. The shares were purchased at an average cost of $7.38 per share, with a total value of $311,701.68. Following the completion of the acquisition, the insider now owns 52,553,522 shares of the company’s stock, valued at approximately $387,844,992.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own at least 10% 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, July 8th, Saba Capital Management, L.P. acquired 200,706 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.40 per share, with a total value of $1,485,224.40.
• On Monday, July 1st, Saba Capital Management, L.P. acquired 252,855 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.25 per share, with a total value of $1,833,198.75.

BlackRock Innovation and Growth Term Trust Stock Down 0.6 %

Shares of BIGZ stock opened at $7.37 on Wednesday. The stock has a fifty day moving average price of $7.35 and a 200 day moving average price of $7.56. BlackRock Innovation and Growth Term Trust has a 1 year low of $6.21 and a 1 year high of $8.35.

BlackRock Innovation and Growth Term Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be given a dividend of $0.0885 per share. This represents a $1.06 annualized dividend and a yield of 14.41%. The ex-dividend date of this dividend is Monday, July 15th.

Hedge Funds Weigh In On BlackRock Innovation and Growth Term Trust

Several hedge funds have recently bought and sold shares of BIGZ. Karpus Management Inc. increased its position in BlackRock Innovation and Growth Term Trust by 54.3% during the fourth quarter. Karpus Management Inc. now owns 1,203,858 shares of the company’s stock worth $8,824,000 after buying an additional 423,468 shares in the last quarter. Wolverine Asset Management LLC increased its position in BlackRock Innovation and Growth Term Trust by 8,592.9% during the fourth quarter. Wolverine Asset Management LLC now owns 337,545 shares of the company’s stock worth $2,474,000 after buying an additional 333,662 shares in the last quarter. LM Advisors LLC purchased a new position in BlackRock Innovation and Growth Term Trust during the fourth quarter worth $1,133,000. Shaker Financial Services LLC purchased a new position in BlackRock Innovation and Growth Term Trust during the fourth quarter worth $1,087,000. Finally, Blue Bell Private Wealth Management LLC grew its position in shares of BlackRock Innovation and Growth Term Trust by 159.6% in the first quarter. Blue Bell Private Wealth Management LLC now owns 235,128 shares of the company’s stock valued at $1,914,000 after purchasing an additional 144,542 shares during the period.

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.