Matisse Capital Reduces Position in BlackRock Innovation and Growth Term Trust (NYSE:BIGZ)

Matisse Capital lowered its position in shares of BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) by 15.2% during the fourth quarter, Holdings Channel reports. The fund owned 139,734 shares of the company’s stock after selling 25,127 shares during the quarter. Matisse Capital’s holdings in BlackRock Innovation and Growth Term Trust were worth $1,040,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Absolute Investment Advisers LLC purchased a new stake in shares of BlackRock Innovation and Growth Term Trust during the 4th quarter worth about $9,435,000. SeaCrest Wealth Management LLC purchased a new stake in BlackRock Innovation and Growth Term Trust during the fourth quarter worth approximately $110,000. Garden State Investment Advisory Services LLC acquired a new stake in shares of BlackRock Innovation and Growth Term Trust in the third quarter worth $245,000. Rivernorth Capital Management LLC raised its stake in shares of BlackRock Innovation and Growth Term Trust by 108.5% in the 3rd quarter. Rivernorth Capital Management LLC now owns 1,142,760 shares of the company’s stock valued at $8,628,000 after acquiring an additional 594,776 shares during the period. Finally, Virtu Financial LLC purchased a new position in BlackRock Innovation and Growth Term Trust in the third quarter valued at about $191,000.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. acquired 355,173 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average cost of $7.87 per share, with a total value of $2,795,211.51. Following the completion of the acquisition, the insider now directly owns 58,963,110 shares in the company, valued at $464,039,675.70. This represents a 0.61 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have acquired 2,309,022 shares of company stock worth $18,001,077 in the last three months.

BlackRock Innovation and Growth Term Trust Price Performance

BlackRock Innovation and Growth Term Trust stock opened at $8.14 on Tuesday. BlackRock Innovation and Growth Term Trust has a one year low of $6.66 and a one year high of $8.31. The stock’s 50 day moving average price is $7.83 and its 200 day moving average price is $7.58.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were paid a dividend of $0.0868 per share. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $1.04 dividend on an annualized basis and a yield of 12.81%.

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.