BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Saba Capital Management, L.P. Acquires 22,616 Shares

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) major shareholder Saba Capital Management, L.P. acquired 22,616 shares of the company’s stock in a transaction on Monday, November 11th. The shares were acquired at an average cost of $7.83 per share, for a total transaction of $177,083.28. Following the completion of the acquisition, the insider now owns 57,417,734 shares of the company’s stock, valued at approximately $449,580,857.22. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 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 Thursday, November 7th, Saba Capital Management, L.P. purchased 40,719 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.71 per share, for a total transaction of $313,943.49.
• On Tuesday, November 5th, Saba Capital Management, L.P. bought 16,939 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average price of $7.47 per share, with a total value of $126,534.33.
• On Wednesday, October 30th, Saba Capital Management, L.P. purchased 61,003 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $7.66 per share, for a total transaction of $467,282.98.
• On Monday, October 28th, Saba Capital Management, L.P. acquired 123,691 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average price of $7.62 per share, for a total transaction of $942,525.42.
• On Friday, October 25th, Saba Capital Management, L.P. bought 68,934 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.55 per share, with a total value of $520,451.70.
• On Wednesday, October 23rd, Saba Capital Management, L.P. purchased 76,043 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.52 per share, for a total transaction of $571,843.36.
• On Monday, October 21st, Saba Capital Management, L.P. bought 64,641 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average price of $7.59 per share, with a total value of $490,625.19.
• On Friday, October 18th, Saba Capital Management, L.P. purchased 51,163 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.60 per share, for a total transaction of $388,838.80.
• On Wednesday, October 16th, Saba Capital Management, L.P. acquired 64,275 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.58 per share, for a total transaction of $487,204.50.
• On Monday, October 14th, Saba Capital Management, L.P. bought 56,853 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.70 per share, with a total value of $437,768.10.

BlackRock Innovation and Growth Term Trust Trading Down 1.1 %

Shares of NYSE BIGZ opened at $7.75 on Wednesday. BlackRock Innovation and Growth Term Trust has a one year low of $6.66 and a one year high of $8.25. The firm’s 50 day simple moving average is $7.54 and its two-hundred day simple moving average is $7.39.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.0863 per share. This represents a $1.04 annualized dividend and a dividend yield of 13.37%. The ex-dividend date of this dividend is Friday, November 15th.

Hedge Funds Weigh In On BlackRock Innovation and Growth Term Trust

Large investors have recently added to or reduced their stakes in the business. Penserra Capital Management LLC bought a new position in shares of BlackRock Innovation and Growth Term Trust during the third quarter valued at about $15,076,000. Wolverine Asset Management LLC purchased a new stake in BlackRock Innovation and Growth Term Trust during the 2nd quarter valued at about $4,192,000. Almitas Capital LLC bought a new position in BlackRock Innovation and Growth Term Trust during the 2nd quarter worth approximately $3,928,000. Sessa Capital IM L.P. increased its stake in BlackRock Innovation and Growth Term Trust by 15.0% in the 2nd quarter. Sessa Capital IM L.P. now owns 2,739,993 shares of the company’s stock worth $19,810,000 after purchasing an additional 356,372 shares during the period. Finally, Karpus Management Inc. lifted its position in BlackRock Innovation and Growth Term Trust by 24.2% in the first quarter. Karpus Management Inc. now owns 1,495,480 shares of the company’s stock valued at $12,173,000 after purchasing an additional 291,622 shares during the last quarter.

BlackRock Innovation and Growth Term Trust Company Profile

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.