BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Short Interest Update

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) was the target of a large increase in short interest in December. As of December 15th, there was short interest totalling 156,500 shares, an increase of 7.8% from the November 30th total of 145,200 shares. Based on an average daily volume of 642,200 shares, the short-interest ratio is currently 0.2 days.

BlackRock Innovation and Growth Term Trust Price Performance

Shares of NYSE:BIGZ opened at $7.44 on Thursday. The firm has a 50 day moving average of $7.73 and a 200 day moving average of $7.49. BlackRock Innovation and Growth Term Trust has a 52 week low of $6.66 and a 52 week high of $8.25.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, December 23rd. Shareholders of record on Monday, December 16th were given a dividend of $0.0868 per share. This represents a $1.04 annualized dividend and a dividend yield of 13.99%. The ex-dividend date of this dividend was Monday, December 16th.

Insider Buying and Selling at BlackRock Innovation and Growth Term Trust

In other BlackRock Innovation and Growth Term Trust news, major shareholder Saba Capital Management, L.P. bought 23,490 shares of the company’s stock in a transaction on Monday, October 7th. The shares were bought at an average cost of $7.53 per share, for a total transaction of $176,879.70. Following the acquisition, the insider now directly owns 55,878,798 shares in the company, valued at approximately $420,767,348.94. The trade was a 0.04 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 2,652,339 shares of company stock valued at $20,590,121 in the last ninety days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BIGZ. Garden State Investment Advisory Services LLC acquired a new position in shares of BlackRock Innovation and Growth Term Trust during the third quarter worth $245,000. Rivernorth Capital Management LLC raised its position in shares of BlackRock Innovation and Growth Term Trust by 108.5% in the 3rd quarter. Rivernorth Capital Management LLC now owns 1,142,760 shares of the company’s stock valued at $8,628,000 after purchasing an additional 594,776 shares during the last quarter. Virtu Financial LLC acquired a new stake in BlackRock Innovation and Growth Term Trust in the 3rd quarter worth approximately $191,000. Jane Street Group LLC grew its position in BlackRock Innovation and Growth Term Trust by 421.8% during the 3rd quarter. Jane Street Group LLC now owns 61,072 shares of the company’s stock worth $461,000 after purchasing an additional 49,367 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of BlackRock Innovation and Growth Term Trust by 4.8% in the third quarter. Captrust Financial Advisors now owns 32,800 shares of the company’s stock worth $248,000 after buying an additional 1,500 shares during the last quarter.

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.