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

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totalling 479,800 shares, a growth of 20.9% from the August 31st total of 396,900 shares. Based on an average trading volume of 775,100 shares, the days-to-cover ratio is presently 0.6 days.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. bought 200,706 shares of the company’s stock in a transaction on Monday, July 8th. The stock was bought at an average cost of $7.40 per share, with a total value of $1,485,224.40. Following the completion of the acquisition, the insider now owns 52,754,228 shares in the company, valued at approximately $390,381,287.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders acquired 1,794,706 shares of company stock worth $13,270,094.

Hedge Funds Weigh In On BlackRock Innovation and Growth Term Trust

A number of institutional investors have recently modified their holdings of BIGZ. Thompson Investment Management Inc. acquired a new stake in BlackRock Innovation and Growth Term Trust in the 1st quarter worth about $33,000. Register Financial Advisors LLC acquired a new position in shares of BlackRock Innovation and Growth Term Trust in the 1st quarter valued at $53,000. J.W. Cole Advisors Inc. purchased a new stake in shares of BlackRock Innovation and Growth Term Trust during the 2nd quarter valued at $75,000. Tempus Wealth Planning LLC acquired a new stake in shares of BlackRock Innovation and Growth Term Trust during the 2nd quarter worth $76,000. Finally, Skyline Advisors Inc. purchased a new position in shares of BlackRock Innovation and Growth Term Trust in the 4th quarter worth $98,000.

BlackRock Innovation and Growth Term Trust Stock Up 0.1 %

Shares of NYSE:BIGZ traded up $0.01 on Monday, hitting $7.61. The company had a trading volume of 725,367 shares, compared to its average volume of 725,376. The business has a 50 day moving average of $7.31 and a 200 day moving average of $7.40. 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 Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.0864 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.04 annualized dividend and a dividend yield of 13.64%.

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.