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

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

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. purchased 5,581 shares of the business’s stock in a transaction dated Thursday, October 3rd. The shares were bought at an average price of $7.53 per share, with a total value of $42,024.93. Following the purchase, the insider now directly owns 55,825,413 shares in the company, valued at $420,365,359.89. This trade represents a 0.01 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders bought a total of 1,549,771 shares of company stock worth $11,707,832 over the last three months.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. J.W. Cole Advisors Inc. acquired a new stake in BlackRock Innovation and Growth Term Trust in the second quarter worth $75,000. Tempus Wealth Planning LLC acquired a new stake in BlackRock Innovation and Growth Term Trust during the 2nd quarter worth $76,000. Dakota Wealth Management lifted its holdings in BlackRock Innovation and Growth Term Trust by 9.4% during the second quarter. Dakota Wealth Management now owns 21,217 shares of the company’s stock worth $153,000 after acquiring an additional 1,824 shares in the last quarter. Prudent Investors Network Inc. acquired a new position in BlackRock Innovation and Growth Term Trust in the first quarter valued at about $174,000. Finally, International Assets Investment Management LLC acquired a new position in BlackRock Innovation and Growth Term Trust in the third quarter valued at about $1,690,000.

BlackRock Innovation and Growth Term Trust Trading Down 0.3 %

NYSE:BIGZ traded down $0.02 during mid-day trading on Tuesday, hitting $7.53. The company had a trading volume of 70,408 shares, compared to its average volume of 695,471. BlackRock Innovation and Growth Term Trust has a fifty-two week low of $6.66 and a fifty-two week high of $8.25. The business’s fifty day moving average is $7.57 and its two-hundred day moving average is $7.41.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.0863 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 13.76%.

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.