Saba Capital Management, L.P. Buys 106,617 Shares of BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Stock

Posted by ABMN Staff on Jan 8th, 2025

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. bought 106,617 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were purchased at an average price of $7.46 per share, for a total transaction of $795,362.82. Following the purchase, the insider now owns 60,262,743 shares in the company, valued at $449,560,062.78. This trade represents a 0.18 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 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, January 6th, Saba Capital Management, L.P. acquired 282,123 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.72 per share, with a total value of $2,177,989.56.
On Monday, December 30th, Saba Capital Management, L.P. bought 279,479 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.45 per share, for a total transaction of $2,082,118.55.
On Thursday, December 26th, Saba Capital Management, L.P. purchased 69,719 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.65 per share, with a total value of $533,350.35.
On Monday, December 16th, Saba Capital Management, L.P. acquired 350,000 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.91 per share, for a total transaction of $2,768,500.00.
On Thursday, December 12th, Saba Capital Management, L.P. bought 355,173 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average price of $7.87 per share, with a total value of $2,795,211.51.
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 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 bought at an average cost of $7.98 per share, with a total value of $757,493.52.
On Monday, November 25th, Saba Capital Management, L.P. bought 266,732 shares of BlackRock Innovation and Growth Term Trust stock. The stock was 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, with a total value 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 bought at an average cost of $7.60 per share, with a total value of $702,057.60.

BlackRock Innovation and Growth Term Trust Stock Down 1.4 %

Shares of BIGZ stock opened at $7.63 on Wednesday. BlackRock Innovation and Growth Term Trust has a 12-month low of $6.66 and a 12-month high of $8.25. The stock’s 50-day moving average price is $7.73 and its 200-day moving average price is $7.50.

BlackRock Innovation and Growth Term Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be paid a $0.0868 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 13.65%. The ex-dividend date of this dividend is Wednesday, January 15th.

Institutional Trading of BlackRock Innovation and Growth Term Trust

Several hedge funds have recently modified their holdings of the company. Garden State Investment Advisory Services LLC bought a new stake in BlackRock Innovation and Growth Term Trust in the third quarter worth $245,000. Rivernorth Capital Management LLC increased its holdings in shares of 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 worth $8,628,000 after buying an additional 594,776 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of BlackRock Innovation and Growth Term Trust in the 3rd quarter worth about $191,000. Jane Street Group LLC lifted its holdings in shares of BlackRock Innovation and Growth Term Trust by 421.8% in the 3rd quarter. Jane Street Group LLC now owns 61,072 shares of the company’s stock valued at $461,000 after acquiring an additional 49,367 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in BlackRock Innovation and Growth Term Trust by 4.8% in the third quarter. Captrust Financial Advisors now owns 32,800 shares of the company’s stock worth $248,000 after acquiring an additional 1,500 shares in 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.