Insider Buying: BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Buys 279,479 Shares of Stock

Posted by Editorial Team on Jan 2nd, 2025

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 279,479 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were bought at an average cost of $7.45 per share, with a total value of $2,082,118.55. Following the transaction, the insider now directly owns 60,047,827 shares of the company’s stock, valued at approximately $447,356,311.15. This represents a 0.47 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

On Thursday, December 26th, Saba Capital Management, L.P. purchased 69,719 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.65 per share, with a total value of $533,350.35.
On Monday, December 16th, Saba Capital Management, L.P. acquired 350,000 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.91 per share, for a total transaction of $2,768,500.00.
On Thursday, December 12th, Saba Capital Management, L.P. acquired 355,173 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.87 per share, for a total transaction of $2,795,211.51.
On Wednesday, December 4th, Saba Capital Management, L.P. acquired 185,716 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $8.07 per share, for a total transaction of $1,498,728.12.
On Monday, December 2nd, Saba Capital Management, L.P. acquired 94,924 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.98 per share, for a total transaction of $757,493.52.
On Monday, November 25th, Saba Capital Management, L.P. acquired 266,732 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.96 per share, for a total transaction of $2,123,186.72.
On Friday, November 22nd, Saba Capital Management, L.P. bought 68,422 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.86 per share, for a total transaction of $537,796.92.
On Tuesday, November 19th, Saba Capital Management, L.P. bought 92,376 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.60 per share, for a total transaction of $702,057.60.
On Wednesday, November 13th, Saba Capital Management, L.P. bought 94,406 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.82 per share, for a total transaction of $738,254.92.
On Monday, November 11th, Saba Capital Management, L.P. bought 22,616 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.83 per share, for a total transaction of $177,083.28.

BlackRock Innovation and Growth Term Trust Stock Down 0.1 %

NYSE:BIGZ opened at $7.44 on Thursday. The business’s 50-day moving average price is $7.73 and its 200 day moving average price is $7.49. BlackRock Innovation and Growth Term Trust has a 52-week low of $6.66 and a 52-week high of $8.25.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, December 23rd. Investors of record on Monday, December 16th were paid a $0.0868 dividend. The ex-dividend date was Monday, December 16th. This represents a $1.04 dividend on an annualized basis and a yield of 13.99%.

Hedge Funds Weigh In On BlackRock Innovation and Growth Term Trust

A number of institutional investors have recently bought and sold shares of the stock. Captrust Financial Advisors increased its stake in BlackRock Innovation and Growth Term Trust by 4.8% in the 3rd quarter. Captrust Financial Advisors now owns 32,800 shares of the company’s stock worth $248,000 after purchasing an additional 1,500 shares in the last quarter. PFG Investments LLC boosted its position in BlackRock Innovation and Growth Term Trust by 75.1% during the 2nd quarter. PFG Investments LLC now owns 23,538 shares of the company’s stock worth $170,000 after acquiring an additional 10,099 shares during the period. J.W. Cole Advisors Inc. acquired a new stake in BlackRock Innovation and Growth Term Trust during the 2nd quarter worth about $75,000. International Assets Investment Management LLC acquired a new stake in BlackRock Innovation and Growth Term Trust during the 3rd quarter worth about $1,690,000. Finally, Virtu Financial LLC acquired a new stake in BlackRock Innovation and Growth Term Trust during the 3rd quarter worth about $191,000.

About BlackRock Innovation and Growth Term Trust

(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.