BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Stock Price Down 0.3% – Here’s Why

Shares of BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) dropped 0.3% during trading on Friday . The stock traded as low as $9.09 and last traded at $9.21. Approximately 546,475 shares changed hands during trading, a decline of 22% from the average daily volume of 702,427 shares. The stock had previously closed at $9.24.

BlackRock Innovation and Growth Term Trust Stock Performance

The firm’s 50 day simple moving average is $7.86 and its 200 day simple moving average is $7.06.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. purchased a new position in shares of BlackRock Innovation and Growth Term Trust in the first quarter worth $59,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of BlackRock Innovation and Growth Term Trust in the second quarter worth $96,000. NewEdge Advisors LLC increased its stake in shares of BlackRock Innovation and Growth Term Trust by 20.3% in the first quarter. NewEdge Advisors LLC now owns 50,280 shares of the company’s stock worth $405,000 after buying an additional 8,478 shares during the period. Jane Street Group LLC increased its stake in shares of BlackRock Innovation and Growth Term Trust by 13.7% in the second quarter. Jane Street Group LLC now owns 86,506 shares of the company’s stock worth $635,000 after buying an additional 10,397 shares during the period. Finally, Quantinno Capital Management LP purchased a new position in shares of BlackRock Innovation and Growth Term Trust in the second quarter worth $1,072,000.

About BlackRock Innovation and Growth Term Trust

BlackRock Innovation and Growth Term Trust (NYSE: BIGZ) is a closed-end management investment company sponsored by BlackRock Fund Advisors. Launched in May 2020, the trust is structured with a predetermined termination date and trades on the New York Stock Exchange. As a term trust, BIGZ offers investors exposure to a diversified portfolio of growth-oriented equity and equity-related securities, with the goal of delivering long-term capital appreciation.

The trust pursues its investment objective by focusing on companies that are positioned to benefit from innovation, technological advancements and structural shifts across multiple industries.