BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Saba Capital Management, L.P. Buys 76,043 Shares

Posted by Christopher Mengel on Oct 25th, 2024

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 76,043 shares of BlackRock Innovation and Growth Term Trust stock in a transaction dated Wednesday, October 23rd. The shares were purchased at an average price of $7.52 per share, for a total transaction of $571,843.36. Following the completion of the transaction, the insider now directly owns 56,663,422 shares in the company, valued at approximately $426,108,933.44. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major 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 Monday, October 21st, Saba Capital Management, L.P. acquired 64,641 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.59 per share, for a total transaction of $490,625.19.
On Friday, October 18th, Saba Capital Management, L.P. purchased 51,163 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.60 per share, for a total transaction of $388,838.80.
On Wednesday, October 16th, Saba Capital Management, L.P. purchased 64,275 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.58 per share, for a total transaction of $487,204.50.
On Monday, October 14th, Saba Capital Management, L.P. purchased 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 shares were bought at an average price of $7.65 per share, for a total transaction of $344,502.45.
On Wednesday, October 9th, Saba Capital Management, L.P. purchased 79,992 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought 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. purchased 23,490 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.53 per share, for a total transaction 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 shares were bought 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. purchased 19,386 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.57 per share, for a total transaction of $146,752.02.
On Friday, September 27th, Saba Capital Management, L.P. acquired 23,267 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.61 per share, with a total value of $177,061.87.

BlackRock Innovation and Growth Term Trust Trading Up 1.3 %

NYSE BIGZ opened at $7.57 on Friday. BlackRock Innovation and Growth Term Trust has a fifty-two week low of $6.21 and a fifty-two week high of $8.25. The stock has a 50 day simple moving average of $7.47 and a two-hundred day simple moving average of $7.37.

BlackRock Innovation and Growth Term Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a $0.0864 dividend. This represents a $1.04 annualized dividend and a yield of 13.71%. The ex-dividend date of this dividend is Tuesday, October 15th.

Institutional Investors Weigh In On BlackRock Innovation and Growth Term Trust

Several institutional investors and hedge funds have recently bought and sold shares of BIGZ. PNC Financial Services Group Inc. lifted its holdings in BlackRock Innovation and Growth Term Trust by 20.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 29,335 shares of the company’s stock worth $215,000 after buying an additional 5,040 shares during the period. Register Financial Advisors LLC purchased a new position in shares of BlackRock Innovation and Growth Term Trust in the 1st quarter valued at approximately $53,000. Janney Montgomery Scott LLC lifted its stake in shares of BlackRock Innovation and Growth Term Trust by 9.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 69,186 shares of the company’s stock valued at $563,000 after purchasing an additional 6,202 shares during the period. Whittier Trust Co. purchased a new position in shares of BlackRock Innovation and Growth Term Trust in the 1st quarter valued at approximately $122,000. Finally, Karpus Management Inc. lifted its stake in shares of BlackRock Innovation and Growth Term Trust by 24.2% in the 1st quarter. Karpus Management Inc. now owns 1,495,480 shares of the company’s stock valued at $12,173,000 after purchasing an additional 291,622 shares during the period.

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.