BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Sees Large Increase in Short Interest

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 213,500 shares, a growth of 7.7% from the October 15th total of 198,200 shares. Based on an average trading volume of 588,900 shares, the short-interest ratio is currently 0.4 days.

Insider Transactions at BlackRock Innovation and Growth Term Trust

In related news, major shareholder Saba Capital Management, L.P. purchased 30,643 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $7.32 per share, with a total value of $224,306.76. Following the completion of the acquisition, the insider now owns 54,841,541 shares in the company, valued at approximately $401,440,080.12. This represents a 0.06 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders have acquired 1,549,771 shares of company stock worth $11,707,832.

Institutional Investors Weigh In On BlackRock Innovation and Growth Term Trust

Several hedge funds have recently modified their holdings of the company. Penserra Capital Management LLC purchased a new position in shares of BlackRock Innovation and Growth Term Trust in the 3rd quarter valued at about $15,076,000. Wolverine Asset Management LLC purchased a new stake in shares of BlackRock Innovation and Growth Term Trust in the second quarter valued at approximately $4,192,000. Rivernorth Capital Management LLC raised its stake in shares of BlackRock Innovation and Growth Term Trust by 101.6% during the 3rd quarter. Rivernorth Capital Management LLC now owns 1,104,819 shares of the company’s stock worth $8,341,000 after buying an additional 556,835 shares during the period. Almitas Capital LLC acquired a new position in shares of BlackRock Innovation and Growth Term Trust during the 2nd quarter worth approximately $3,928,000. Finally, Sessa Capital IM L.P. lifted its position in shares of BlackRock Innovation and Growth Term Trust by 15.0% during the 2nd quarter. Sessa Capital IM L.P. now owns 2,739,993 shares of the company’s stock valued at $19,810,000 after buying an additional 356,372 shares in the last quarter.

BlackRock Innovation and Growth Term Trust Stock Up 0.1 %

NYSE:BIGZ opened at $7.55 on Tuesday. The firm’s fifty day moving average is $7.57 and its two-hundred day moving average is $7.41. BlackRock Innovation and Growth Term Trust has a one year low of $6.66 and a one year high of $8.25.

BlackRock Innovation and Growth Term Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.0863 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.04 dividend on an annualized basis and a yield of 13.72%.

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.