Saba Capital Management, L.P. Buys 68,422 Shares of BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Stock

Posted by Michael Baxter on Nov 27th, 2024

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 68,422 shares of the stock in a transaction dated Friday, November 22nd. The shares were bought at an average cost of $7.86 per share, with a total value of $537,796.92. Following the completion of the transaction, the insider now owns 57,860,159 shares of the company’s stock, valued at approximately $454,780,849.74. This represents a 0.12 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock 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, November 25th, Saba Capital Management, L.P. purchased 266,732 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.96 per share, with a total value of $2,123,186.72.
On Tuesday, November 19th, Saba Capital Management, L.P. acquired 92,376 shares of BlackRock Innovation and Growth Term Trust stock. The stock was 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 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 acquired at an average cost of $7.83 per share, with a total value of $177,083.28.
On Thursday, November 7th, Saba Capital Management, L.P. acquired 40,719 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.71 per share, for a total transaction of $313,943.49.
On Tuesday, November 5th, Saba Capital Management, L.P. purchased 16,939 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average price of $7.47 per share, for a total transaction of $126,534.33.
On Wednesday, October 30th, Saba Capital Management, L.P. bought 61,003 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average price of $7.66 per share, with a total value of $467,282.98.
On Monday, October 28th, Saba Capital Management, L.P. purchased 123,691 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.62 per share, with a total value of $942,525.42.
On Friday, October 25th, Saba Capital Management, L.P. acquired 68,934 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.55 per share, for a total transaction of $520,451.70.
On Wednesday, October 23rd, Saba Capital Management, L.P. bought 76,043 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.52 per share, with a total value of $571,843.36.

BlackRock Innovation and Growth Term Trust Price Performance

Shares of NYSE BIGZ opened at $8.00 on Wednesday. The business has a 50-day moving average price of $7.62 and a 200 day moving average price of $7.42. 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 Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.0863 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 12.95%.

Institutional Trading of BlackRock Innovation and Growth Term Trust

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC acquired a new position in BlackRock Innovation and Growth Term Trust in the third quarter valued at $191,000. Jane Street Group LLC increased its position in 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 valued at $461,000 after acquiring an additional 49,367 shares during the period. Rivernorth Capital Management LLC increased its position in BlackRock Innovation and Growth Term Trust by 101.6% in the 3rd quarter. Rivernorth Capital Management LLC now owns 1,104,819 shares of the company’s stock valued at $8,341,000 after acquiring an additional 556,835 shares during the period. Garden State Investment Advisory Services LLC purchased a new stake in BlackRock Innovation and Growth Term Trust during the 3rd quarter valued at approximately $245,000. Finally, Captrust Financial Advisors lifted its position in BlackRock Innovation and Growth Term Trust by 4.8% during the 3rd quarter. Captrust Financial Advisors now owns 32,800 shares of the company’s stock worth $248,000 after acquiring an additional 1,500 shares during the period.

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.