BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Sees Significant Growth in Short Interest

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totalling 156,500 shares, a growth of 7.8% from the November 30th total of 145,200 shares. Based on an average daily volume of 642,200 shares, the short-interest ratio is presently 0.2 days.

BlackRock Innovation and Growth Term Trust Stock Down 0.1 %

Shares of BlackRock Innovation and Growth Term Trust stock opened at $7.44 on Thursday. BlackRock Innovation and Growth Term Trust has a 1-year low of $6.66 and a 1-year high of $8.25. The firm’s 50-day moving average price is $7.73 and its two-hundred day moving average price is $7.49.

BlackRock Innovation and Growth Term Trust Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, December 23rd. Shareholders of record on Monday, December 16th were paid a dividend of $0.0868 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $1.04 annualized dividend and a yield of 13.99%.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. acquired 279,479 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were purchased at an average cost of $7.45 per share, with a total value of $2,082,118.55. Following the completion of the purchase, the insider now owns 60,047,827 shares of the company’s stock, valued at $447,356,311.15. This represents a 0.47 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 2,652,339 shares of company stock valued at $20,590,121 over the last quarter.

Institutional Trading of BlackRock Innovation and Growth Term Trust

Several large investors have recently added to or reduced their stakes in BIGZ. J.W. Cole Advisors Inc. bought a new stake in BlackRock Innovation and Growth Term Trust during the second quarter worth about $75,000. PFG Investments LLC grew its stake in shares of BlackRock Innovation and Growth Term Trust by 75.1% during the second quarter. PFG Investments LLC now owns 23,538 shares of the company’s stock valued at $170,000 after purchasing an additional 10,099 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of BlackRock Innovation and Growth Term Trust during the third quarter valued at approximately $191,000. Garden State Investment Advisory Services LLC bought a new stake in shares of BlackRock Innovation and Growth Term Trust during the third quarter valued at approximately $245,000. Finally, Captrust Financial Advisors grew its stake in shares of BlackRock Innovation and Growth Term Trust by 4.8% during the third quarter. Captrust Financial Advisors now owns 32,800 shares of the company’s stock valued at $248,000 after purchasing an additional 1,500 shares during the last quarter.

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.