HighTower Advisors LLC Lowers Holdings in BlackRock Innovation and Growth Term Trust (NYSE:BIGZ)

HighTower Advisors LLC trimmed its position in BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) by 83.3% in the 3rd quarter, Holdings Channel reports. The firm owned 33,267 shares of the company’s stock after selling 165,992 shares during the quarter. HighTower Advisors LLC’s holdings in BlackRock Innovation and Growth Term Trust were worth $252,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BIGZ. J.W. Cole Advisors Inc. purchased a new stake in BlackRock Innovation and Growth Term Trust during the second quarter valued at about $75,000. International Assets Investment Management LLC bought a new stake in shares of BlackRock Innovation and Growth Term Trust in the 3rd quarter valued at about $1,690,000. PFG Investments LLC boosted its holdings in BlackRock Innovation and Growth Term Trust by 75.1% during the 2nd quarter. PFG Investments LLC now owns 23,538 shares of the company’s stock valued at $170,000 after acquiring an additional 10,099 shares during the period. Garden State Investment Advisory Services LLC bought a new position in BlackRock Innovation and Growth Term Trust during the 3rd quarter worth approximately $245,000. Finally, Captrust Financial Advisors grew its position in 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 acquiring an additional 1,500 shares during the last quarter.

BlackRock Innovation and Growth Term Trust Price Performance

NYSE:BIGZ opened at $7.64 on Wednesday. BlackRock Innovation and Growth Term Trust has a fifty-two week low of $6.66 and a fifty-two week high of $8.25. The business has a 50 day moving average price of $7.73 and a 200-day moving average price of $7.48.

BlackRock Innovation and Growth Term Trust Announces Dividend

The company also recently announced a monthly dividend, which was paid on Monday, December 23rd. Stockholders of record on Monday, December 16th were paid a $0.0868 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 13.63%. The ex-dividend date of this dividend was Monday, December 16th.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. acquired 185,716 shares of the stock in a transaction on Wednesday, December 4th. The stock was acquired at an average price of $8.07 per share, with a total value of $1,498,728.12. Following the completion of the transaction, the insider now owns 58,448,770 shares of the company’s stock, valued at $471,681,573.90. This represents a 0.32 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 2,351,375 shares of company stock worth $18,340,491 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.