Saba Capital Management, L.P. Acquires 252,855 Shares of BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Stock

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) major shareholder Saba Capital Management, L.P. bought 252,855 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were acquired at an average price of $7.25 per share, with a total value of $1,833,198.75. Following the purchase, the insider now owns 52,356,149 shares in the company, valued at $379,582,080.25. The acquisition 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 transactions with the SEC.

BlackRock Innovation and Growth Term Trust Stock Performance

Shares of BlackRock Innovation and Growth Term Trust stock opened at $7.40 on Thursday. BlackRock Innovation and Growth Term Trust has a 1 year low of $6.21 and a 1 year high of $8.35. The company’s fifty day simple moving average is $7.34 and its 200-day simple moving average is $7.56.

BlackRock Innovation and Growth Term Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be issued a dividend of $0.0885 per share. The ex-dividend date of this dividend is Monday, July 15th. This represents a $1.06 annualized dividend and a dividend yield of 14.34%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Lazard Asset Management LLC increased its stake in BlackRock Innovation and Growth Term Trust by 21.8% during the third quarter. Lazard Asset Management LLC now owns 2,581,925 shares of the company’s stock valued at $17,970,000 after acquiring an additional 462,842 shares during the period. Raymond James & Associates grew its holdings in shares of BlackRock Innovation and Growth Term Trust by 0.9% during the 1st quarter. Raymond James & Associates now owns 1,857,646 shares of the company’s stock worth $15,121,000 after purchasing an additional 16,989 shares in the last quarter. Karpus Management Inc. increased its position in shares of BlackRock Innovation and Growth Term Trust by 24.2% during 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 period. Raymond James Financial Services Advisors Inc. raised its stake in shares of BlackRock Innovation and Growth Term Trust by 9.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 1,449,290 shares of the company’s stock valued at $11,797,000 after purchasing an additional 125,720 shares in the last quarter. Finally, Wolverine Asset Management LLC lifted its position in BlackRock Innovation and Growth Term Trust by 8,592.9% in the fourth quarter. Wolverine Asset Management LLC now owns 337,545 shares of the company’s stock worth $2,474,000 after purchasing an additional 333,662 shares during the period.

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.