Saba Capital Management, L.P. Buys 61,003 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. purchased 61,003 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were purchased at an average price of $7.66 per share, for a total transaction of $467,282.98. Following the completion of the purchase, the insider now directly owns 57,142,055 shares of the company’s stock, valued at $437,708,141.30. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Major 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, October 28th, Saba Capital Management, L.P. acquired 123,691 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.62 per share, for a total transaction of $942,525.42.
• On Friday, October 25th, Saba Capital Management, L.P. bought 68,934 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.55 per share, with a total value of $520,451.70.
• On Wednesday, October 23rd, Saba Capital Management, L.P. purchased 76,043 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average price of $7.52 per share, for a total transaction of $571,843.36.
• On Monday, October 21st, Saba Capital Management, L.P. purchased 64,641 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.59 per share, for a total transaction of $490,625.19.
• On Friday, October 18th, Saba Capital Management, L.P. acquired 51,163 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.60 per share, with a total value of $388,838.80.
• On Wednesday, October 16th, Saba Capital Management, L.P. bought 64,275 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average price of $7.58 per share, for a total transaction of $487,204.50.
• On Monday, October 14th, Saba Capital Management, L.P. purchased 56,853 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.70 per share, with a total value of $437,768.10.
• On Friday, October 11th, Saba Capital Management, L.P. acquired 45,033 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average price of $7.65 per share, for a total transaction of $344,502.45.
• On Wednesday, October 9th, Saba Capital Management, L.P. bought 79,992 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.60 per share, with a total value of $607,939.20.
• On Monday, October 7th, Saba Capital Management, L.P. purchased 23,490 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.53 per share, for a total transaction of $176,879.70.

BlackRock Innovation and Growth Term Trust Price Performance

Shares of BlackRock Innovation and Growth Term Trust stock opened at $7.51 on Friday. The business has a 50-day simple moving average of $7.50 and a 200-day simple moving average of $7.37. BlackRock Innovation and Growth Term Trust has a one year low of $6.47 and a one year high of $8.25.

BlackRock Innovation and Growth Term Trust Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given a $0.0864 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 13.81%. The ex-dividend date of this dividend was Tuesday, October 15th.

Institutional Investors Weigh In On BlackRock Innovation and Growth Term Trust

A number of hedge funds and other institutional investors have recently modified their holdings of BIGZ. Wolverine Asset Management LLC purchased a new position in BlackRock Innovation and Growth Term Trust in the second quarter valued at $4,192,000. Almitas Capital LLC acquired a new position in shares of BlackRock Innovation and Growth Term Trust during the 2nd quarter worth about $3,928,000. Sessa Capital IM L.P. increased 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 valued at $19,810,000 after acquiring an additional 356,372 shares during the last quarter. Karpus Management Inc. raised 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 acquiring an additional 291,622 shares in the last quarter. Finally, Quarry LP lifted its stake in BlackRock Innovation and Growth Term Trust by 251.2% during the second quarter. Quarry LP now owns 397,934 shares of the company’s stock worth $2,877,000 after purchasing an additional 284,634 shares during the last quarter.

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.