BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Saba Capital Management, L.P. Acquires 94,406 Shares

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) major shareholder Saba Capital Management, L.P. acquired 94,406 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was purchased at an average price of $7.82 per share, for a total transaction of $738,254.92. Following the acquisition, the insider now directly owns 57,617,107 shares in the company, valued at $450,565,776.74. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Monday, November 11th, Saba Capital Management, L.P. purchased 22,616 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $7.83 per share, for a total transaction 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 acquired at an average price of $7.71 per share, with a total value of $313,943.49.
• On Tuesday, November 5th, Saba Capital Management, L.P. purchased 16,939 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.47 per share, with a total value of $126,534.33.
• On Wednesday, October 30th, Saba Capital Management, L.P. bought 61,003 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.66 per share, with a total value of $467,282.98.
• On Monday, October 28th, Saba Capital Management, L.P. acquired 123,691 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.62 per share, with a total value of $942,525.42.
• On Friday, October 25th, Saba Capital Management, L.P. purchased 68,934 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $7.55 per share, with a total value of $520,451.70.
• On Wednesday, October 23rd, Saba Capital Management, L.P. acquired 76,043 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $7.52 per share, for a total transaction of $571,843.36.
• On Monday, October 21st, Saba Capital Management, L.P. acquired 64,641 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.59 per share, with a total value of $490,625.19.
• On Friday, October 18th, Saba Capital Management, L.P. bought 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. acquired 64,275 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.58 per share, with a total value of $487,204.50.

BlackRock Innovation and Growth Term Trust Price Performance

Shares of NYSE BIGZ traded up $0.04 on Thursday, hitting $7.83. The company had a trading volume of 378,450 shares, compared to its average volume of 697,396. The business has a 50 day moving average of $7.55 and a two-hundred day moving average of $7.40. BlackRock Innovation and Growth Term Trust has a 12-month low of $6.66 and a 12-month high of $8.25.

BlackRock Innovation and Growth Term Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.0863 per share. This represents a $1.04 annualized dividend and a dividend yield of 13.23%. The ex-dividend date of this dividend is Friday, November 15th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sessa Capital IM L.P. boosted its stake in BlackRock Innovation and Growth Term Trust by 15.0% during the second quarter. Sessa Capital IM L.P. now owns 2,739,993 shares of the company’s stock valued at $19,810,000 after buying an additional 356,372 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in BlackRock Innovation and Growth Term Trust in the 3rd quarter worth approximately $15,076,000. Karpus Management Inc. increased its holdings in BlackRock Innovation and Growth Term Trust by 24.2% in the first quarter. Karpus Management Inc. now owns 1,495,480 shares of the company’s stock worth $12,173,000 after buying an additional 291,622 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in BlackRock Innovation and Growth Term Trust in the 2nd quarter worth approximately $4,192,000. Finally, Almitas Capital LLC bought a new stake in shares of BlackRock Innovation and Growth Term Trust during the 2nd quarter worth $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.