Saba Capital Management, L.P. Acquires 40,719 Shares of BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Stock

Posted by Lisa Pomrenke on Nov 12th, 2024

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. bought 40,719 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were acquired at an average cost of $7.71 per share, with a total value of $313,943.49. Following the completion of the purchase, the insider now owns 57,316,027 shares in the company, valued at $441,906,568.17. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

On Monday, November 11th, Saba Capital Management, L.P. purchased 22,616 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average price of $7.83 per share, with a total value of $177,083.28.
On Tuesday, November 5th, Saba Capital Management, L.P. acquired 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 stock was bought at an average cost of $7.66 per share, with a total value 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 stock was purchased at an average cost of $7.62 per share, for a total transaction of $942,525.42.
On Friday, October 25th, Saba Capital Management, L.P. acquired 68,934 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.55 per share, with a total value of $520,451.70.
On Wednesday, October 23rd, Saba Capital Management, L.P. acquired 76,043 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.52 per share, with a total value of $571,843.36.
On Monday, October 21st, Saba Capital Management, L.P. bought 64,641 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.59 per share, for a total transaction of $490,625.19.
On Friday, October 18th, Saba Capital Management, L.P. acquired 51,163 shares of BlackRock Innovation and Growth Term Trust stock. The stock was 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 shares were acquired at an average price of $7.58 per share, with a total value of $487,204.50.
On Monday, October 14th, Saba Capital Management, L.P. purchased 56,853 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.70 per share, for a total transaction of $437,768.10.

BlackRock Innovation and Growth Term Trust Trading Down 1.8 %

Shares of BlackRock Innovation and Growth Term Trust stock traded down $0.14 during trading hours on Tuesday, reaching $7.70. 415,735 shares of the company’s stock were exchanged, compared to its average volume of 697,685. The company has a 50 day moving average of $7.53 and a two-hundred day moving average of $7.39. BlackRock Innovation and Growth Term Trust has a fifty-two week low of $6.66 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 Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.0863 per share. The ex-dividend date is Friday, November 15th. This represents a $1.04 dividend on an annualized basis and a yield of 13.45%.

Hedge Funds Weigh In On BlackRock Innovation and Growth Term Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wolverine Asset Management LLC acquired a new stake in shares of BlackRock Innovation and Growth Term Trust in the second quarter valued at approximately $4,192,000. Almitas Capital LLC bought a new stake in shares of BlackRock Innovation and Growth Term Trust during the second quarter worth approximately $3,928,000. Sessa Capital IM L.P. grew its position in shares of 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 valued at $19,810,000 after purchasing an additional 356,372 shares during the last quarter. Karpus Management Inc. increased its stake in shares of 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. Finally, Quarry LP lifted its holdings in 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 purchasing an additional 284,634 shares during the last quarter.

About BlackRock Innovation and Growth Term Trust

(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.