Insider Buying: BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Acquires $757,493.52 in Stock

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) major shareholder Saba Capital Management, L.P. acquired 94,924 shares of the stock in a transaction on Monday, December 2nd. The shares were bought at an average price of $7.98 per share, for a total transaction of $757,493.52. Following the purchase, the insider now owns 58,237,616 shares in the company, valued at approximately $464,736,175.68. This trade represents a 0.16 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own at least 10% 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 Wednesday, December 4th, Saba Capital Management, L.P. purchased 185,716 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $8.07 per share, for a total transaction of $1,498,728.12.
• On Monday, November 25th, Saba Capital Management, L.P. purchased 266,732 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.96 per share, for a total transaction of $2,123,186.72.
• On Friday, November 22nd, Saba Capital Management, L.P. bought 68,422 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.86 per share, for a total transaction of $537,796.92.
• On Tuesday, November 19th, Saba Capital Management, L.P. bought 92,376 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.60 per share, with a total value of $702,057.60.
• On Wednesday, November 13th, Saba Capital Management, L.P. acquired 94,406 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.82 per share, with a total value of $738,254.92.
• On Monday, November 11th, Saba Capital Management, L.P. bought 22,616 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.83 per share, for a total transaction of $177,083.28.
• On Thursday, November 7th, Saba Capital Management, L.P. acquired 40,719 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $7.71 per share, for a total transaction of $313,943.49.
• On Tuesday, November 5th, Saba Capital Management, L.P. purchased 16,939 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average price of $7.47 per share, for a total transaction of $126,534.33.
• On Wednesday, October 30th, Saba Capital Management, L.P. acquired 61,003 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.66 per share, for a total transaction of $467,282.98.
• On Monday, October 28th, Saba Capital Management, L.P. purchased 123,691 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.62 per share, for a total transaction of $942,525.42.

BlackRock Innovation and Growth Term Trust Stock Up 0.1 %

BIGZ opened at $8.08 on Friday. The company has a fifty day moving average price of $7.68 and a two-hundred day moving average price of $7.45. BlackRock Innovation and Growth Term Trust has a 1-year low of $6.66 and a 1-year high of $8.25.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a dividend of $0.0863 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.04 annualized dividend and a yield of 12.82%.

Hedge Funds Weigh In On BlackRock Innovation and Growth Term Trust

Hedge funds have recently added to or reduced their stakes in the stock. Sessa Capital IM L.P. raised its position in BlackRock Innovation and Growth Term Trust by 15.0% in the 2nd 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 during the last quarter. Penserra Capital Management LLC purchased a new position in BlackRock Innovation and Growth Term Trust during the third quarter worth about $15,076,000. Rivernorth Capital Management LLC increased its stake in BlackRock Innovation and Growth Term Trust by 108.5% in the 3rd quarter. Rivernorth Capital Management LLC now owns 1,142,760 shares of the company’s stock valued at $8,628,000 after buying an additional 594,776 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in shares of BlackRock Innovation and Growth Term Trust in the 2nd quarter worth approximately $4,192,000. Finally, Almitas Capital LLC bought a new position in shares of BlackRock Innovation and Growth Term Trust in the second quarter valued at approximately $3,928,000.

About BlackRock Innovation and Growth Term Trust

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.