BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Sees Significant Growth in Short Interest

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 118,900 shares, an increase of 119.4% from the June 30th total of 54,200 shares. Based on an average daily trading volume, of 740,100 shares, the days-to-cover ratio is presently 0.2 days.

Insider Buying and Selling at BlackRock Innovation and Growth Term Trust

In related news, major shareholder Saba Capital Management, L.P. bought 42,236 shares of the stock in a transaction that occurred on Friday, July 5th. The stock was bought at an average cost of $7.38 per share, for a total transaction of $311,701.68. Following the purchase, the insider now directly owns 52,553,522 shares of the company’s stock, valued at $387,844,992.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders acquired 1,246,121 shares of company stock worth $9,201,141.

Institutional Investors Weigh In On BlackRock Innovation and Growth Term Trust

A number of institutional investors have recently modified their holdings of the business. Dakota Wealth Management raised its position in shares of BlackRock Innovation and Growth Term Trust by 9.4% in the second quarter. Dakota Wealth Management now owns 21,217 shares of the company’s stock valued at $153,000 after buying an additional 1,824 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in BlackRock Innovation and Growth Term Trust by 5.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 65,521 shares of the company’s stock worth $480,000 after acquiring an additional 3,105 shares in the last quarter. Thompson Investment Management Inc. purchased a new stake in shares of BlackRock Innovation and Growth Term Trust in the 1st quarter valued at about $33,000. B. Riley Wealth Advisors Inc. boosted its holdings in shares of BlackRock Innovation and Growth Term Trust by 14.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 38,560 shares of the company’s stock valued at $314,000 after acquiring an additional 4,810 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in BlackRock Innovation and Growth Term Trust by 20.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 29,335 shares of the company’s stock worth $215,000 after purchasing an additional 5,040 shares during the period.

BlackRock Innovation and Growth Term Trust Stock Up 0.3 %

Shares of NYSE:BIGZ traded up $0.02 during midday trading on Friday, reaching $7.25. The company’s stock had a trading volume of 723,402 shares, compared to its average volume of 736,637. The stock has a fifty day moving average of $7.36 and a 200 day moving average of $7.56. BlackRock Innovation and Growth Term Trust has a twelve month low of $6.21 and a twelve month high of $8.35.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be given a $0.0885 dividend. The ex-dividend date is Monday, July 15th. This represents a $1.06 annualized dividend and a yield of 14.64%.

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.