Insider Buying: BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Purchases $487,204.50 in Stock

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) major shareholder Saba Capital Management, L.P. acquired 64,275 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were bought at an average cost of $7.58 per share, for a total transaction of $487,204.50. Following the acquisition, the insider now owns 56,318,475 shares in the company, valued at approximately $426,894,040.50. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 14th, Saba Capital Management, L.P. bought 56,853 shares of BlackRock Innovation and Growth Term Trust stock. The shares were 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. purchased 45,033 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.65 per share, with a total value of $344,502.45.
• On Wednesday, October 9th, Saba Capital Management, L.P. acquired 79,992 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.60 per share, for a total transaction of $607,939.20.
• On Monday, October 7th, Saba Capital Management, L.P. bought 23,490 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.53 per share, with a total value of $176,879.70.
• On Thursday, October 3rd, Saba Capital Management, L.P. purchased 5,581 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 $42,024.93.
• On Monday, September 30th, Saba Capital Management, L.P. acquired 19,386 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.57 per share, with a total value of $146,752.02.
• On Friday, September 27th, Saba Capital Management, L.P. purchased 23,267 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.61 per share, with a total value of $177,061.87.
• On Wednesday, September 25th, Saba Capital Management, L.P. acquired 31,988 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 $240,549.76.
• On Monday, September 23rd, Saba Capital Management, L.P. purchased 118,879 shares of BlackRock Innovation and Growth Term Trust stock. The stock was 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. acquired 315,074 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.47 per share, with a total value of $2,353,602.78.

BlackRock Innovation and Growth Term Trust Stock Performance

Shares of BIGZ opened at $7.61 on Friday. BlackRock Innovation and Growth Term Trust has a 1 year low of $6.21 and a 1 year high of $8.25. The stock’s 50-day moving average price is $7.44 and its two-hundred day moving average price is $7.37.

BlackRock Innovation and Growth Term Trust Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Sessa Capital IM L.P. raised its holdings in 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 purchasing an additional 356,372 shares during the period. Karpus Management Inc. raised its stake in 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 worth $12,173,000 after buying an additional 291,622 shares during the period. Wolverine Asset Management LLC bought a new position in BlackRock Innovation and Growth Term Trust during the second quarter worth about $4,192,000. Almitas Capital LLC acquired a new position in BlackRock Innovation and Growth Term Trust in the second quarter valued at about $3,928,000. Finally, Quarry LP increased its holdings in shares of BlackRock Innovation and Growth Term Trust by 251.2% in the second quarter. Quarry LP now owns 397,934 shares of the company’s stock worth $2,877,000 after acquiring an additional 284,634 shares in 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.