Insider Buying: BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Purchases 355,173 Shares of Stock

Posted by Lars Charter on Dec 16th, 2024

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 355,173 shares of the stock in a transaction dated Thursday, December 12th. The stock was acquired at an average price of $7.87 per share, with a total value of $2,795,211.51. Following the completion of the acquisition, the insider now owns 58,963,110 shares in the company, valued at approximately $464,039,675.70. The trade was a 0.61 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% 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 Wednesday, December 4th, Saba Capital Management, L.P. acquired 185,716 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $8.07 per share, with a total value of $1,498,728.12.
On Monday, December 2nd, Saba Capital Management, L.P. purchased 94,924 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.98 per share, with a total value of $757,493.52.
On Monday, November 25th, Saba Capital Management, L.P. purchased 266,732 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.96 per share, with a total value of $2,123,186.72.
On Friday, November 22nd, Saba Capital Management, L.P. purchased 68,422 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.86 per share, with a total value of $537,796.92.
On Tuesday, November 19th, Saba Capital Management, L.P. purchased 92,376 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.60 per share, with a total value of $702,057.60.
On Wednesday, November 13th, Saba Capital Management, L.P. purchased 94,406 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.82 per share, with a total value of $738,254.92.
On Monday, November 11th, Saba Capital Management, L.P. purchased 22,616 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.83 per share, with a total value of $177,083.28.
On Thursday, November 7th, Saba Capital Management, L.P. purchased 40,719 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.71 per share, with a total value of $313,943.49.
On Tuesday, November 5th, Saba Capital Management, L.P. acquired 16,939 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.47 per share, for a total transaction of $126,534.33.
On Wednesday, October 30th, Saba Capital Management, L.P. acquired 61,003 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.66 per share, for a total transaction of $467,282.98.

BlackRock Innovation and Growth Term Trust Stock Up 1.4 %

BlackRock Innovation and Growth Term Trust stock traded up $0.11 during mid-day trading on Monday, reaching $7.90. 394,779 shares of the company traded hands, compared to its average volume of 697,811. The firm’s 50 day moving average price is $7.73 and its 200 day moving average price is $7.47. 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 disclosed a monthly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 16th will be given a dividend of $0.0868 per share. This represents a $1.04 dividend on an annualized basis and a yield of 13.18%. The ex-dividend date is Monday, December 16th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BIGZ. Garden State Investment Advisory Services LLC purchased a new stake in shares of BlackRock Innovation and Growth Term Trust in the 3rd quarter worth about $245,000. Rivernorth Capital Management LLC grew its position in shares of BlackRock Innovation and Growth Term Trust by 108.5% in the 3rd quarter. Rivernorth Capital Management LLC now owns 1,142,760 shares of the company’s stock worth $8,628,000 after buying an additional 594,776 shares during the period. Virtu Financial LLC purchased a new stake in shares of BlackRock Innovation and Growth Term Trust in the 3rd quarter worth about $191,000. Jane Street Group LLC grew its position in shares of BlackRock Innovation and Growth Term Trust by 421.8% in the 3rd quarter. Jane Street Group LLC now owns 61,072 shares of the company’s stock worth $461,000 after buying an additional 49,367 shares during the period. Finally, Captrust Financial Advisors grew its position in shares of 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 buying an additional 1,500 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.