BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Purchases $797,000.00 in Stock

Posted by AM Reporter Staff on Mar 28th, 2024

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 100,000 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was purchased at an average cost of $7.97 per share, with a total value of $797,000.00. Following the purchase, the insider now directly owns 51,418,942 shares in the company, valued at approximately $409,808,967.74. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares 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, March 25th, Saba Capital Management, L.P. acquired 152,676 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.98 per share, with a total value of $1,218,354.48.
On Wednesday, March 20th, Saba Capital Management, L.P. bought 241,858 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.84 per share, with a total value of $1,896,166.72.
On Thursday, March 7th, Saba Capital Management, L.P. bought 17,047 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $8.04 per share, with a total value of $137,057.88.
On Thursday, February 29th, Saba Capital Management, L.P. bought 60,078 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $8.01 per share, with a total value of $481,224.78.
On Monday, February 26th, Saba Capital Management, L.P. bought 273,686 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $8.11 per share, with a total value of $2,219,593.46.
On Thursday, February 22nd, Saba Capital Management, L.P. bought 178,566 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $8.03 per share, with a total value of $1,433,884.98.
On Tuesday, February 20th, Saba Capital Management, L.P. bought 56,252 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.91 per share, with a total value of $444,953.32.
On Thursday, February 15th, Saba Capital Management, L.P. bought 486,478 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $8.07 per share, with a total value of $3,925,877.46.
On Monday, February 12th, Saba Capital Management, L.P. bought 432,560 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $8.23 per share, with a total value of $3,559,968.80.
On Friday, February 9th, Saba Capital Management, L.P. purchased 222,038 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average price of $8.13 per share, for a total transaction of $1,805,168.94.

BlackRock Innovation and Growth Term Trust Stock Performance

BlackRock Innovation and Growth Term Trust stock opened at $8.09 on Thursday. The firm’s fifty day simple moving average is $7.88 and its 200-day simple moving average is $7.34. BlackRock Innovation and Growth Term Trust has a 1-year low of $6.21 and a 1-year high of $8.35.

BlackRock Innovation and Growth Term Trust Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.0445 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 6.60%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Prevail Innovative Wealth Advisors LLC bought a new position in shares of BlackRock Innovation and Growth Term Trust during the 2nd quarter valued at $3,567,000. Raymond James Financial Services Advisors Inc. raised its holdings in BlackRock Innovation and Growth Term Trust by 0.8% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 1,287,393 shares of the company’s stock worth $8,960,000 after acquiring an additional 10,267 shares during the period. AQR Arbitrage LLC raised its holdings in BlackRock Innovation and Growth Term Trust by 40.3% in the 3rd quarter. AQR Arbitrage LLC now owns 202,945 shares of the company’s stock worth $1,412,000 after acquiring an additional 58,280 shares during the period. Alpine Global Management LLC raised its holdings in BlackRock Innovation and Growth Term Trust by 139.2% in the 3rd quarter. Alpine Global Management LLC now owns 145,098 shares of the company’s stock worth $1,010,000 after acquiring an additional 84,448 shares during the period. Finally, Qube Research & Technologies Ltd raised its holdings in BlackRock Innovation and Growth Term Trust by 17.2% in the 3rd quarter. Qube Research & Technologies Ltd now owns 285,220 shares of the company’s stock worth $1,985,000 after acquiring an additional 41,850 shares during the period.

BlackRock Innovation and Growth Term Trust Company Profile

(Get Free Report)

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.