BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Short Interest Update

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 589,000 shares, a growth of 395.4% from the July 15th total of 118,900 shares. Based on an average trading volume of 788,000 shares, the short-interest ratio is currently 0.7 days.

BlackRock Innovation and Growth Term Trust Trading Up 2.0 %

Shares of BIGZ stock traded up $0.14 during mid-day trading on Tuesday, hitting $7.26. 296,720 shares of the stock were exchanged, compared to its average volume of 743,408. The firm has a fifty day moving average of $7.27 and a 200 day moving average of $7.54. BlackRock Innovation and Growth Term Trust has a 52-week low of $6.21 and a 52-week high of $8.25.

BlackRock Innovation and Growth Term Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.088 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.06 annualized dividend and a yield of 14.55%.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. bought 13,283 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average price of $6.83 per share, with a total value of $90,722.89. Following the completion of the acquisition, the insider now directly owns 54,309,162 shares of the company’s stock, valued at approximately $370,931,576.46. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders bought 1,376,137 shares of company stock worth $10,112,978 in the last 90 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BIGZ. Raymond James & Associates increased its stake in BlackRock Innovation and Growth Term Trust by 0.9% during the first quarter. Raymond James & Associates now owns 1,857,646 shares of the company’s stock worth $15,121,000 after acquiring an additional 16,989 shares during the last quarter. Karpus Management Inc. increased 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 purchasing an additional 291,622 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of BlackRock Innovation and Growth Term Trust by 9.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 1,449,290 shares of the company’s stock valued at $11,797,000 after acquiring an additional 125,720 shares during the period. Wolverine Asset Management LLC acquired a new position in BlackRock Innovation and Growth Term Trust during the second quarter worth $4,192,000. Finally, Blue Bell Private Wealth Management LLC boosted its holdings in BlackRock Innovation and Growth Term Trust by 56.9% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 368,889 shares of the company’s stock valued at $2,667,000 after acquiring an additional 133,761 shares during the period.

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.