Saba Capital Management, L.P. Buys 350,000 Shares of BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Stock

Posted by MarketBeat News on Dec 19th, 2024

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 350,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were bought at an average price of $7.91 per share, with a total value of $2,768,500.00. Following the completion of the transaction, the insider now owns 59,546,236 shares in the company, valued at $471,010,726.76. This represents a 0.59 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major 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 Thursday, December 12th, Saba Capital Management, L.P. purchased 355,173 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.87 per share, with a total value of $2,795,211.51.
On Wednesday, December 4th, Saba Capital Management, L.P. purchased 185,716 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $8.07 per share, for a total transaction of $1,498,728.12.
On Monday, December 2nd, Saba Capital Management, L.P. acquired 94,924 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.98 per share, with a total value of $757,493.52.
On Monday, November 25th, Saba Capital Management, L.P. acquired 266,732 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.96 per share, for a total transaction of $2,123,186.72.
On Friday, November 22nd, Saba Capital Management, L.P. bought 68,422 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.86 per share, for a total transaction of $537,796.92.
On Tuesday, November 19th, Saba Capital Management, L.P. bought 92,376 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.60 per share, with a total value 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 stock was 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. acquired 22,616 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased 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. purchased 40,719 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $7.71 per share, with a total value of $313,943.49.
On Tuesday, November 5th, Saba Capital Management, L.P. acquired 16,939 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.47 per share, with a total value of $126,534.33.

BlackRock Innovation and Growth Term Trust Price Performance

BIGZ stock opened at $7.50 on Thursday. The stock’s fifty day simple moving average is $7.74 and its two-hundred day simple moving average is $7.48. BlackRock Innovation and Growth Term Trust has a 1-year low of $6.66 and a 1-year high of $8.25.

BlackRock Innovation and Growth Term Trust Dividend Announcement

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The company also recently disclosed a monthly dividend, which will be paid on Monday, December 23rd. Investors of record on Monday, December 16th will be issued a $0.0868 dividend. This represents a $1.04 annualized dividend and a yield of 13.88%. The ex-dividend date is Monday, December 16th.

Hedge Funds Weigh In On BlackRock Innovation and Growth Term Trust

Large investors have recently modified their holdings of the business. Sessa Capital IM L.P. boosted its holdings 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 acquiring an additional 356,372 shares during the period. Penserra Capital Management LLC purchased a new position in BlackRock Innovation and Growth Term Trust during the 3rd quarter valued at about $15,076,000. Rivernorth Capital Management LLC increased its position in shares of BlackRock Innovation and Growth Term Trust by 108.5% during the third quarter. Rivernorth Capital Management LLC now owns 1,142,760 shares of the company’s stock valued at $8,628,000 after buying an additional 594,776 shares during the period. Wolverine Asset Management LLC purchased a new stake in shares of BlackRock Innovation and Growth Term Trust in the second quarter worth about $4,192,000. Finally, Almitas Capital LLC bought a new position in shares of BlackRock Innovation and Growth Term Trust in the second quarter valued at approximately $3,928,000.

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.