Insider Buying: BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Acquires 23,267 Shares of Stock

Posted by MarketBeat News on Sep 30th, 2024

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 23,267 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was acquired at an average price of $7.61 per share, for a total transaction of $177,061.87. Following the transaction, the insider now owns 55,775,218 shares of the company’s stock, valued at approximately $424,449,408.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Large 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, September 25th, Saba Capital Management, L.P. acquired 31,988 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.52 per share, with a total value of $240,549.76.
On Monday, September 23rd, Saba Capital Management, L.P. bought 118,879 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.51 per share, for a total transaction of $892,781.29.
On Wednesday, September 18th, Saba Capital Management, L.P. purchased 315,074 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average price of $7.47 per share, with a total value of $2,353,602.78.
On Monday, September 16th, Saba Capital Management, L.P. acquired 31,631 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.33 per share, for a total transaction of $231,855.23.
On Friday, August 23rd, Saba Capital Management, L.P. bought 30,643 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.32 per share, with a total value of $224,306.76.
On Wednesday, August 21st, Saba Capital Management, L.P. bought 83,524 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.27 per share, for a total transaction of $607,219.48.
On Monday, August 19th, Saba Capital Management, L.P. purchased 36,418 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price 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 purchased at an average price of $6.95 per share, for a total transaction of $583,125.85.
On Monday, August 5th, Saba Capital Management, L.P. bought 13,283 shares of BlackRock Innovation and Growth Term Trust stock. The stock was 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 price of $7.30 per share, with a total value of $2,920.00.

BlackRock Innovation and Growth Term Trust Price Performance

Shares of BIGZ traded up $0.02 during trading hours on Monday, reaching $7.62. The company’s stock had a trading volume of 274,906 shares, compared to its average volume of 722,978. The company has a 50 day moving average of $7.30 and a two-hundred day moving average of $7.41. 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 Dividend Announcement

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The business also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.0864 per share. This represents a $1.04 annualized dividend and a dividend yield of 13.61%. The ex-dividend date of this dividend is Tuesday, October 15th.

Institutional Trading of BlackRock Innovation and Growth Term Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC bought a new position in shares of BlackRock Innovation and Growth Term Trust during the 2nd quarter valued at $1,401,000. Quarry LP increased its position in BlackRock Innovation and Growth Term Trust by 251.2% during the second quarter. Quarry LP now owns 397,934 shares of the company’s stock worth $2,877,000 after buying an additional 284,634 shares during the last quarter. Almitas Capital LLC bought a new position in BlackRock Innovation and Growth Term Trust during the second quarter valued at about $3,928,000. Sessa Capital IM L.P. lifted its position in shares of BlackRock Innovation and Growth Term Trust by 15.0% in the second quarter. Sessa Capital IM L.P. now owns 2,739,993 shares of the company’s stock worth $19,810,000 after buying an additional 356,372 shares during the last quarter. Finally, Logan Stone Capital LLC bought a new stake in shares of BlackRock Innovation and Growth Term Trust during the 2nd quarter worth about $352,000.

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.