Insider Buying: BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Purchases $607,219.48 in Stock

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) major shareholder Saba Capital Management, L.P. purchased 83,524 shares of BlackRock Innovation and Growth Term Trust stock in a transaction that occurred on Wednesday, August 21st. The shares were bought at an average price of $7.27 per share, with a total value of $607,219.48. Following the transaction, the insider now owns 54,558,121 shares in the company, valued at $396,637,539.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% 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, August 19th, Saba Capital Management, L.P. acquired 36,418 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.22 per share, with a total value of $262,937.96.
• On Wednesday, August 7th, Saba Capital Management, L.P. acquired 83,903 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $6.95 per share, with a total value of $583,125.85.
• On Monday, August 5th, Saba Capital Management, L.P. acquired 13,283 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $6.83 per share, with a total value of $90,722.89.
• On Thursday, August 1st, Saba Capital Management, L.P. acquired 400 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.30 per share, with a total value of $2,920.00.
• On Monday, July 29th, Saba Capital Management, L.P. acquired 27,528 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.25 per share, with a total value of $199,578.00.
• On Friday, July 26th, Saba Capital Management, L.P. acquired 4,902 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.24 per share, with a total value of $35,490.48.
• On Wednesday, July 24th, Saba Capital Management, L.P. acquired 116,570 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.30 per share, with a total value of $850,961.00.
• On Monday, July 22nd, Saba Capital Management, L.P. acquired 20,254 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.35 per share, with a total value of $148,866.90.
• On Friday, July 19th, Saba Capital Management, L.P. purchased 33,447 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.26 per share, with a total value of $242,825.22.
• On Wednesday, July 17th, Saba Capital Management, L.P. purchased 34,572 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.38 per share, with a total value of $255,141.36.

BlackRock Innovation and Growth Term Trust Price Performance

BlackRock Innovation and Growth Term Trust stock opened at $7.34 on Friday. The firm has a 50 day simple moving average of $7.25 and a 200-day simple moving average of $7.52. BlackRock Innovation and Growth Term Trust has a 1-year low of $6.21 and a 1-year high of $8.25.

BlackRock Innovation and Growth Term Trust Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be paid a $0.088 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.06 annualized dividend and a dividend yield of 14.39%.

Institutional Trading of BlackRock Innovation and Growth Term Trust

Several hedge funds have recently made changes to their positions in BIGZ. Wolverine Asset Management LLC purchased a new stake in shares of BlackRock Innovation and Growth Term Trust in the 2nd quarter valued at approximately $4,192,000. Almitas Capital LLC purchased a new stake in shares of BlackRock Innovation and Growth Term Trust in the 2nd quarter valued at approximately $3,928,000. Karpus Management Inc. boosted its position in shares of BlackRock Innovation and Growth Term Trust by 54.3% during the 4th quarter. Karpus Management Inc. now owns 1,203,858 shares of the company’s stock worth $8,824,000 after purchasing an additional 423,468 shares during the period. Sessa Capital IM L.P. boosted its position in shares of BlackRock Innovation and Growth Term Trust by 15.0% during 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, Quarry LP boosted its position in shares of BlackRock Innovation and Growth Term Trust by 251.2% during the 2nd quarter. Quarry LP now owns 397,934 shares of the company’s stock worth $2,877,000 after purchasing an additional 284,634 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.