Saba Capital Management, L.P. Buys 68,934 Shares of BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Stock

Posted by MarketBeat News on Oct 30th, 2024

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. bought 68,934 shares of the stock in a transaction dated Friday, October 25th. The stock was purchased at an average price of $7.55 per share, with a total value of $520,451.70. Following the purchase, the insider now owns 56,809,258 shares in the company, valued at $428,909,897.90. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own more than 10% of a company’s shares 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, October 28th, Saba Capital Management, L.P. acquired 123,691 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.62 per share, with a total value of $942,525.42.
On Wednesday, October 23rd, Saba Capital Management, L.P. bought 76,043 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired 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. purchased 64,641 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.59 per share, with a total value of $490,625.19.
On Friday, October 18th, Saba Capital Management, L.P. acquired 51,163 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.60 per share, for a total transaction of $388,838.80.
On Wednesday, October 16th, Saba Capital Management, L.P. bought 64,275 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average price of $7.58 per share, with a total value of $487,204.50.
On Monday, October 14th, Saba Capital Management, L.P. purchased 56,853 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average price of $7.70 per share, for a total transaction of $437,768.10.
On Friday, October 11th, Saba Capital Management, L.P. acquired 45,033 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.65 per share, with a total value of $344,502.45.
On Wednesday, October 9th, Saba Capital Management, L.P. purchased 79,992 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.60 per share, with a total value of $607,939.20.
On Monday, October 7th, Saba Capital Management, L.P. purchased 23,490 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.53 per share, for a total transaction of $176,879.70.
On Thursday, October 3rd, Saba Capital Management, L.P. bought 5,581 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.53 per share, with a total value of $42,024.93.

BlackRock Innovation and Growth Term Trust Trading Down 0.3 %

NYSE:BIGZ opened at $7.61 on Wednesday. The company’s 50 day moving average price is $7.49 and its 200-day moving average price is $7.36. BlackRock Innovation and Growth Term Trust has a 52 week low of $6.21 and a 52 week high of $8.25.

BlackRock Innovation and Growth Term Trust Announces Dividend

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The firm also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.0864 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.04 annualized dividend and a yield of 13.63%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Sessa Capital IM L.P. boosted its position in shares of BlackRock Innovation and Growth Term Trust by 15.0% during the second quarter. Sessa Capital IM L.P. now owns 2,739,993 shares of the company’s stock valued at $19,810,000 after buying an additional 356,372 shares during the last quarter. Karpus Management Inc. boosted its holdings in shares of BlackRock Innovation and Growth Term Trust by 24.2% during the 1st quarter. Karpus Management Inc. now owns 1,495,480 shares of the company’s stock valued at $12,173,000 after acquiring an additional 291,622 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of BlackRock Innovation and Growth Term Trust in the second quarter worth approximately $4,192,000. Almitas Capital LLC purchased a new position in shares of BlackRock Innovation and Growth Term Trust during the second quarter valued at approximately $3,928,000. Finally, Quarry LP lifted 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 valued at $2,877,000 after purchasing an additional 284,634 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.