BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Trading Down 1.3% – Here’s Why

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) shares dropped 1.3% during mid-day trading on Friday . The stock traded as low as $8.37 and last traded at $8.41. 420,190 shares traded hands during mid-day trading, a decline of 40% from the average daily volume of 702,427 shares. The stock had previously closed at $8.52.

BlackRock Innovation and Growth Term Trust Stock Performance

The stock’s 50 day simple moving average is $8.68 and its 200-day simple moving average is $7.67.

Hedge Funds Weigh In On BlackRock Innovation and Growth Term Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. acquired a new stake in BlackRock Innovation and Growth Term Trust during the 1st quarter valued at approximately $59,000. B. Riley Wealth Advisors Inc. acquired a new stake in BlackRock Innovation and Growth Term Trust during the 2nd quarter worth about $96,000. NewEdge Advisors LLC raised its stake in shares of BlackRock Innovation and Growth Term Trust by 20.3% during the 1st quarter. NewEdge Advisors LLC now owns 50,280 shares of the company’s stock valued at $405,000 after buying an additional 8,478 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of BlackRock Innovation and Growth Term Trust by 13.7% in the 2nd quarter. Jane Street Group LLC now owns 86,506 shares of the company’s stock valued at $635,000 after buying an additional 10,397 shares during the period. Finally, Quantinno Capital Management LP purchased a new stake in shares of BlackRock Innovation and Growth Term Trust in the second quarter worth about $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.