BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Short Interest Up 119.4% in July

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

Insider Buying and Selling at BlackRock Innovation and Growth Term Trust

In other BlackRock Innovation and Growth Term Trust news, major shareholder Saba Capital Management, L.P. purchased 42,236 shares of the business’s stock in a transaction on Friday, July 5th. The stock was bought at an average cost of $7.38 per share, with a total value of $311,701.68. Following the acquisition, the insider now owns 52,553,522 shares of the company’s stock, valued at $387,844,992.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders acquired 1,246,121 shares of company stock valued at $9,201,141.

Hedge Funds Weigh In On BlackRock Innovation and Growth Term Trust

Large investors have recently made changes to their positions in the business. Karpus Management Inc. boosted 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 purchasing an additional 423,468 shares during the period. Wolverine Asset Management LLC boosted 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 purchasing an additional 333,662 shares during the period. LM Advisors LLC bought a new stake in BlackRock Innovation and Growth Term Trust during the fourth quarter worth approximately $1,133,000. Shaker Financial Services LLC bought a new stake in BlackRock Innovation and Growth Term Trust during the fourth quarter worth approximately $1,087,000. Finally, Blue Bell Private Wealth Management LLC boosted its position in BlackRock Innovation and Growth Term Trust by 159.6% during the first quarter. Blue Bell Private Wealth Management LLC now owns 235,128 shares of the company’s stock worth $1,914,000 after purchasing an additional 144,542 shares during the period.

BlackRock Innovation and Growth Term Trust Price Performance

NYSE BIGZ traded up $0.02 on Friday, hitting $7.25. 723,402 shares of the company were exchanged, compared to its average volume of 736,637. The company’s 50 day moving average price is $7.36 and its 200-day moving average price is $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 Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be issued a $0.0885 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.06 dividend on an annualized basis and a dividend 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.