BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Saba Capital Management, L.P. Buys 355,173 Shares

Posted by Jim Brewer on Dec 16th, 2024

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 355,173 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were purchased at an average cost of $7.87 per share, for a total transaction of $2,795,211.51. Following the completion of the transaction, the insider now directly owns 58,963,110 shares in the company, valued at $464,039,675.70. The trade was a 0.61 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 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 Wednesday, December 4th, Saba Capital Management, L.P. acquired 185,716 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $8.07 per share, for a total transaction of $1,498,728.12.
On Monday, December 2nd, Saba Capital Management, L.P. acquired 94,924 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.98 per share, for a total transaction of $757,493.52.
On Monday, November 25th, Saba Capital Management, L.P. acquired 266,732 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased 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. acquired 68,422 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased 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. acquired 92,376 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.60 per share, for a total transaction 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 shares were purchased at an average cost of $7.82 per share, for a total transaction 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 bought at an average price of $7.83 per share, for a total transaction of $177,083.28.
On Thursday, November 7th, Saba Capital Management, L.P. bought 40,719 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.71 per share, for a total transaction of $313,943.49.
On Tuesday, November 5th, Saba Capital Management, L.P. bought 16,939 shares of BlackRock Innovation and Growth Term Trust stock. The shares were 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. bought 61,003 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.66 per share, for a total transaction of $467,282.98.

BlackRock Innovation and Growth Term Trust Price Performance

BIGZ traded up $0.11 during midday trading on Monday, hitting $7.90. 394,779 shares of the company traded hands, compared to its average volume of 697,811. The company’s 50-day moving average is $7.73 and its 200 day moving average is $7.47. BlackRock Innovation and Growth Term Trust has a 52 week low of $6.66 and a 52 week high of $8.25.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 16th will be paid a dividend of $0.0868 per share. This represents a $1.04 annualized dividend and a yield of 13.18%. The ex-dividend date is Monday, December 16th.

Hedge Funds Weigh In On BlackRock Innovation and Growth Term Trust

Institutional investors have recently made changes to their positions in the business. J.W. Cole Advisors Inc. purchased a new stake in BlackRock Innovation and Growth Term Trust in the 2nd quarter worth approximately $75,000. Tempus Wealth Planning LLC purchased a new stake in BlackRock Innovation and Growth Term Trust in the 2nd quarter worth approximately $76,000. Dakota Wealth Management increased its holdings in BlackRock Innovation and Growth Term Trust by 9.4% in the 2nd quarter. Dakota Wealth Management now owns 21,217 shares of the company’s stock worth $153,000 after acquiring an additional 1,824 shares in the last quarter. PFG Investments LLC increased its holdings in BlackRock Innovation and Growth Term Trust by 75.1% in the 2nd quarter. PFG Investments LLC now owns 23,538 shares of the company’s stock worth $170,000 after acquiring an additional 10,099 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in BlackRock Innovation and Growth Term Trust in the 3rd quarter worth approximately $191,000.

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.