Insider Buying: BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Acquires 64,641 Shares of Stock

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) major shareholder Saba Capital Management, L.P. acquired 64,641 shares of the stock in a transaction on Monday, October 21st. The shares were purchased at an average price of $7.59 per share, for a total transaction of $490,625.19. Following the completion of the transaction, the insider now owns 56,514,257 shares in the company, valued at approximately $428,943,210.63. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% 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 Friday, October 18th, Saba Capital Management, L.P. purchased 51,163 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired 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. bought 64,275 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired 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. acquired 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 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. acquired 79,992 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased 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. 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. bought 5,581 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired 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 stock was acquired at an average cost of $7.57 per share, with a total value 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 shares were bought at an average cost of $7.61 per share, for a total transaction 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 stock was bought at an average cost of $7.52 per share, with a total value of $240,549.76.

BlackRock Innovation and Growth Term Trust Price Performance

BIGZ stock traded up $0.05 during trading on Tuesday, hitting $7.58. The company had a trading volume of 307,470 shares, compared to its average volume of 705,765. The company has a fifty day moving average price of $7.45 and a two-hundred day moving average price of $7.37. BlackRock Innovation and Growth Term Trust has a fifty-two week low of $6.21 and a fifty-two week high of $8.25.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a $0.0864 dividend. This represents a $1.04 annualized dividend and a dividend yield of 13.68%. The ex-dividend date is Tuesday, October 15th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Sessa Capital IM L.P. boosted its holdings in BlackRock Innovation and Growth Term Trust by 15.0% during the second quarter. Sessa Capital IM L.P. now owns 2,739,993 shares of the company’s stock worth $19,810,000 after buying an additional 356,372 shares during the last quarter. Karpus Management Inc. boosted its position in BlackRock Innovation and Growth Term Trust by 24.2% during the first quarter. Karpus Management Inc. now owns 1,495,480 shares of the company’s stock worth $12,173,000 after purchasing an additional 291,622 shares during the period. Wolverine Asset Management LLC bought a new position in shares of BlackRock Innovation and Growth Term Trust in the second quarter valued at about $4,192,000. Almitas Capital LLC acquired a new stake in shares of BlackRock Innovation and Growth Term Trust during the 2nd quarter worth about $3,928,000. Finally, Quarry LP boosted its holdings in shares of 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.