BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Sees Significant Increase in Short Interest

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 198,200 shares, a growth of 26.7% from the September 30th total of 156,400 shares. Based on an average daily trading volume, of 639,600 shares, the short-interest ratio is presently 0.3 days.

BlackRock Innovation and Growth Term Trust Stock Up 0.9 %

BlackRock Innovation and Growth Term Trust stock traded up $0.07 during mid-day trading on Wednesday, reaching $7.68. 105,591 shares of the company were exchanged, compared to its average volume of 699,227. The firm’s 50-day simple moving average is $7.49 and its two-hundred day simple moving average is $7.36. BlackRock Innovation and Growth Term Trust has a twelve month low of $6.24 and a twelve month high of $8.25.

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 given a $0.0864 dividend. This represents a $1.04 annualized dividend and a yield of 13.51%. The ex-dividend date of this dividend is Tuesday, October 15th.

Insider Buying and Selling at BlackRock Innovation and Growth Term Trust

In related news, major shareholder Saba Capital Management, L.P. acquired 13,283 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average price of $6.83 per share, for a total transaction of $90,722.89. Following the purchase, the insider now owns 54,309,162 shares of the company’s stock, valued at $370,931,576.46. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 1,448,092 shares of company stock valued at $10,824,439 in the last 90 days.

Institutional Investors Weigh In On BlackRock Innovation and Growth Term Trust

A number of large investors have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC purchased 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 stake in BlackRock Innovation and Growth Term Trust in the 2nd quarter valued at $3,928,000. Sessa Capital IM L.P. grew its stake in shares of 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 valued at $19,810,000 after buying an additional 356,372 shares in the last quarter. Karpus Management Inc. grew its holdings 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 valued at $12,173,000 after purchasing an additional 291,622 shares in the last quarter. Finally, Quarry LP increased its stake in BlackRock Innovation and Growth Term Trust by 251.2% during the 2nd quarter. Quarry LP now owns 397,934 shares of the company’s stock worth $2,877,000 after buying an additional 284,634 shares during the period.

BlackRock Innovation and Growth Term Trust Company Profile

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.