BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Saba Capital Management, L.P. Acquires 45,033 Shares

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) major shareholder Saba Capital Management, L.P. acquired 45,033 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were bought at an average cost of $7.65 per share, with a total value of $344,502.45. Following the purchase, the insider now owns 56,095,957 shares in the company, valued at approximately $429,134,071.05. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• 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 cost of $7.70 per share, for a total transaction of $437,768.10.
• On Wednesday, October 9th, Saba Capital Management, L.P. acquired 79,992 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.60 per share, with a total value 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 stock was purchased 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 purchased at an average price of $7.53 per share, with a total value 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 acquired at an average cost 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 cost of $7.61 per share, with a total value of $177,061.87.
• On Wednesday, September 25th, Saba Capital Management, L.P. bought 31,988 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average price of $7.52 per share, for a total transaction of $240,549.76.
• 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 price of $7.47 per share, with a total value 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 stock was bought at an average price of $7.33 per share, with a total value of $231,855.23.

BlackRock Innovation and Growth Term Trust Trading Down 1.2 %

Shares of BIGZ traded down $0.09 during mid-day trading on Tuesday, reaching $7.62. 82,504 shares of the stock traded hands, compared to its average volume of 710,112. The stock has a fifty day simple moving average of $7.39 and a 200 day simple moving average of $7.38. BlackRock Innovation and Growth Term Trust has a 12-month low of $6.21 and a 12-month high of $8.25.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.0864 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.04 annualized dividend and a dividend yield of 13.61%.

Institutional Trading of BlackRock Innovation and Growth Term Trust

A number of hedge funds and other institutional investors have recently modified their holdings of BIGZ. Virtu Financial LLC grew its stake in BlackRock Innovation and Growth Term Trust by 84.6% during the 4th quarter. Virtu Financial LLC now owns 39,245 shares of the company’s stock valued at $288,000 after purchasing an additional 17,987 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of BlackRock Innovation and Growth Term Trust by 20.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 29,335 shares of the company’s stock valued at $215,000 after buying an additional 5,040 shares during the last quarter. Thompson Investment Management Inc. acquired a new stake in shares of BlackRock Innovation and Growth Term Trust during the first quarter worth approximately $33,000. Register Financial Advisors LLC acquired a new stake in BlackRock Innovation and Growth Term Trust in the first quarter valued at $53,000. Finally, Janney Montgomery Scott LLC boosted its stake in BlackRock Innovation and Growth Term Trust by 9.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 69,186 shares of the company’s stock valued at $563,000 after acquiring an additional 6,202 shares during the last quarter.

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.