BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Saba Capital Management, L.P. Buys 282,123 Shares

Posted by MarketBeat News on Jan 8th, 2025

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 282,123 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were acquired at an average cost of $7.72 per share, for a total transaction of $2,177,989.56. Following the transaction, the insider now owns 60,615,765 shares of the company’s stock, valued at $467,953,705.80. This trade represents a 0.47 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 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 Thursday, January 2nd, Saba Capital Management, L.P. bought 106,617 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.46 per share, with a total value of $795,362.82.
On Monday, December 30th, Saba Capital Management, L.P. purchased 279,479 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.45 per share, for a total transaction of $2,082,118.55.
On Thursday, December 26th, Saba Capital Management, L.P. acquired 69,719 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.65 per share, with a total value of $533,350.35.
On Monday, December 16th, Saba Capital Management, L.P. acquired 350,000 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.91 per share, for a total transaction of $2,768,500.00.
On Thursday, December 12th, Saba Capital Management, L.P. bought 355,173 shares of BlackRock Innovation and Growth Term Trust stock. The shares were 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 stock was purchased at an average price 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 shares were purchased 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. bought 266,732 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased 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. purchased 68,422 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.86 per share, with a total value of $537,796.92.
On Tuesday, November 19th, Saba Capital Management, L.P. acquired 92,376 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $7.60 per share, for a total transaction of $702,057.60.

BlackRock Innovation and Growth Term Trust Stock Down 1.4 %

BlackRock Innovation and Growth Term Trust stock opened at $7.63 on Wednesday. BlackRock Innovation and Growth Term Trust has a 1-year low of $6.66 and a 1-year high of $8.25. The company has a fifty day simple moving average of $7.73 and a 200 day simple moving average of $7.50.

BlackRock Innovation and Growth Term Trust Announces Dividend

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The business also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be issued a $0.0868 dividend. This represents a $1.04 annualized dividend and a dividend yield of 13.65%. The ex-dividend date of this dividend is Wednesday, January 15th.

Institutional Trading of BlackRock Innovation and Growth Term Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. J.W. Cole Advisors Inc. bought a new position in BlackRock Innovation and Growth Term Trust in the second quarter valued at approximately $75,000. PFG Investments LLC boosted its holdings in shares of BlackRock Innovation and Growth Term Trust by 75.1% in the 2nd quarter. PFG Investments LLC now owns 23,538 shares of the company’s stock valued at $170,000 after buying an additional 10,099 shares during the last quarter. Virtu Financial LLC bought a new position in shares of BlackRock Innovation and Growth Term Trust in the third quarter valued at $191,000. Garden State Investment Advisory Services LLC acquired a new position in BlackRock Innovation and Growth Term Trust during the third quarter worth $245,000. Finally, Captrust Financial Advisors increased its stake in shares of BlackRock Innovation and Growth Term Trust by 4.8% during the 3rd quarter. Captrust Financial Advisors now owns 32,800 shares of the company’s stock worth $248,000 after purchasing an additional 1,500 shares during the last quarter.

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.