Insider Buying: BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Buys $240,549.76 in Stock

Posted by Phillip Gast on Sep 29th, 2024

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. bought 31,988 shares of BlackRock Innovation and Growth Term Trust stock in a transaction that occurred on Wednesday, September 25th. The shares were acquired at an average price of $7.52 per share, for a total transaction of $240,549.76. Following the completion of the transaction, the insider now directly owns 55,727,774 shares of the company’s stock, valued at approximately $419,072,860.48. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more 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, September 23rd, Saba Capital Management, L.P. acquired 118,879 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.51 per share, for a total transaction of $892,781.29.
On Wednesday, September 18th, Saba Capital Management, L.P. bought 315,074 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.47 per share, for a total transaction of $2,353,602.78.
On Monday, September 16th, Saba Capital Management, L.P. purchased 31,631 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.33 per share, with a total value of $231,855.23.
On Friday, August 23rd, Saba Capital Management, L.P. purchased 30,643 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average price of $7.32 per share, for a total transaction of $224,306.76.
On Wednesday, August 21st, Saba Capital Management, L.P. acquired 83,524 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.27 per share, with a total value of $607,219.48.
On Monday, August 19th, Saba Capital Management, L.P. bought 36,418 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.22 per share, for a total transaction of $262,937.96.
On Wednesday, August 7th, Saba Capital Management, L.P. purchased 83,903 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $6.95 per share, with a total value of $583,125.85.
On Monday, August 5th, Saba Capital Management, L.P. acquired 13,283 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $6.83 per share, for a total transaction of $90,722.89.
On Thursday, August 1st, Saba Capital Management, L.P. bought 400 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.30 per share, with a total value of $2,920.00.
On Monday, July 29th, Saba Capital Management, L.P. purchased 27,528 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.25 per share, for a total transaction of $199,578.00.

BlackRock Innovation and Growth Term Trust Price Performance

BlackRock Innovation and Growth Term Trust stock opened at $7.60 on Friday. The firm has a fifty day moving average of $7.30 and a 200-day moving average of $7.41. BlackRock Innovation and Growth Term Trust has a 52-week low of $6.21 and a 52-week high of $8.25.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The business 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 13.65%. The ex-dividend date is Tuesday, October 15th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Thompson Investment Management Inc. purchased a new stake in shares of BlackRock Innovation and Growth Term Trust during the 1st quarter valued at about $33,000. Register Financial Advisors LLC acquired a new stake in BlackRock Innovation and Growth Term Trust in the first quarter valued at approximately $53,000. J.W. Cole Advisors Inc. purchased a new stake in shares of BlackRock Innovation and Growth Term Trust during the second quarter valued at approximately $75,000. Tempus Wealth Planning LLC acquired a new position in shares of BlackRock Innovation and Growth Term Trust during the second quarter worth $76,000. Finally, Skyline Advisors Inc. purchased a new position in shares of BlackRock Innovation and Growth Term Trust in the fourth quarter valued at $98,000.

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.