Short Interest in BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Grows By 26.7%

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) saw a significant growth in short interest in 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 volume of 639,600 shares, the days-to-cover ratio is currently 0.3 days.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. acquired 56,853 shares of the company’s stock in a transaction on Monday, October 14th. The shares were acquired at an average cost of $7.70 per share, for a total transaction of $437,768.10. Following the purchase, the insider now owns 56,152,810 shares in the company, valued at approximately $432,376,637. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have purchased 1,448,092 shares of company stock worth $10,824,439 over the last 90 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new position in BlackRock Innovation and Growth Term Trust in the third quarter valued at about $1,690,000. Sanctuary Advisors LLC purchased a new position in BlackRock Innovation and Growth Term Trust in the second quarter valued at approximately $1,401,000. Quarry LP grew its holdings in BlackRock Innovation and Growth Term Trust by 251.2% during the second quarter. Quarry LP now owns 397,934 shares of the company’s stock valued at $2,877,000 after purchasing an additional 284,634 shares during the period. Almitas Capital LLC purchased a new stake in BlackRock Innovation and Growth Term Trust in the second quarter worth $3,928,000. Finally, Sessa Capital IM L.P. increased its position in 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 worth $19,810,000 after buying an additional 356,372 shares during the last quarter.

BlackRock Innovation and Growth Term Trust Price Performance

Shares of BlackRock Innovation and Growth Term Trust stock remained flat at $7.61 during mid-day trading on Wednesday. 20,727 shares of the company’s stock traded hands, compared to its average volume of 698,823. BlackRock Innovation and Growth Term Trust has a 1 year low of $6.24 and a 1 year high of $8.25. The firm’s 50 day moving average is $7.49 and its 200-day moving average is $7.36.

BlackRock Innovation and Growth Term Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be issued a dividend of $0.0864 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.04 dividend on an annualized basis and a yield of 13.63%.

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.