BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Saba Capital Management, L.P. Buys 34,572 Shares

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) major shareholder Saba Capital Management, L.P. acquired 34,572 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The stock was purchased at an average cost of $7.38 per share, with a total value of $255,141.36. Following the acquisition, the insider now directly owns 53,684,640 shares of the company’s stock, valued at $396,192,643.20. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Monday, July 15th, Saba Capital Management, L.P. bought 382,948 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.49 per share, for a total transaction of $2,868,280.52.
• On Friday, July 12th, Saba Capital Management, L.P. acquired 113,116 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.45 per share, for a total transaction of $842,714.20.
• On Wednesday, July 10th, Saba Capital Management, L.P. bought 49,417 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average price of $7.33 per share, with a total value of $362,226.61.
• On Monday, July 8th, Saba Capital Management, L.P. purchased 200,706 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.40 per share, for a total transaction of $1,485,224.40.
• On Friday, July 5th, Saba Capital Management, L.P. acquired 42,236 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.38 per share, with a total value of $311,701.68.
• On Monday, July 1st, Saba Capital Management, L.P. bought 252,855 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.25 per share, for a total transaction of $1,833,198.75.

BlackRock Innovation and Growth Term Trust Trading Up 0.1 %

NYSE BIGZ opened at $7.31 on Friday. The business’s fifty day moving average is $7.36 and its 200 day moving average is $7.55. BlackRock Innovation and Growth Term Trust has a fifty-two week low of $6.21 and a fifty-two week high of $8.35.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be paid a dividend of $0.0885 per share. 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 14.52%.

Institutional Investors Weigh In On BlackRock Innovation and Growth Term Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates boosted its position in shares of BlackRock Innovation and Growth Term Trust by 0.9% in the first quarter. Raymond James & Associates now owns 1,857,646 shares of the company’s stock worth $15,121,000 after purchasing an additional 16,989 shares during the period. Karpus Management Inc. lifted its stake in shares of BlackRock Innovation and Growth Term Trust by 24.2% during the 1st quarter. Karpus Management Inc. now owns 1,495,480 shares of the company’s stock valued at $12,173,000 after buying an additional 291,622 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in BlackRock Innovation and Growth Term Trust by 9.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 1,449,290 shares of the company’s stock worth $11,797,000 after buying an additional 125,720 shares during the period. Wolverine Asset Management LLC increased its stake in BlackRock Innovation and Growth Term Trust by 8,592.9% in the 4th quarter. Wolverine Asset Management LLC now owns 337,545 shares of the company’s stock worth $2,474,000 after buying an additional 333,662 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC raised its holdings 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 valued at $1,914,000 after acquiring an additional 144,542 shares during the period.

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.