Saba Capital Management, L.P. Purchases 282,123 Shares of BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Stock

Posted by ABMN Staff on Jan 9th, 2025

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. bought 282,123 shares of the company’s stock in a transaction on Monday, January 6th. The stock was purchased at an average price of $7.72 per share, with a total value of $2,177,989.56. Following the completion of the transaction, the insider now directly owns 60,615,765 shares of the company’s stock, valued at approximately $467,953,705.80. The trade was a 0.47 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more 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 Thursday, January 2nd, Saba Capital Management, L.P. acquired 106,617 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.46 per share, with a total value of $795,362.82.
On Monday, December 30th, Saba Capital Management, L.P. bought 279,479 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost 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 shares were acquired at an average cost 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 cost 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 bought at an average cost of $7.87 per share, for a total transaction 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 bought at an average price 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 price 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 shares were purchased at an average cost of $7.96 per share, with a total value of $2,123,186.72.
On Friday, November 22nd, Saba Capital Management, L.P. purchased 68,422 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price 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 price of $7.60 per share, with a total value of $702,057.60.

BlackRock Innovation and Growth Term Trust Stock Performance

BIGZ stock opened at $7.66 on Thursday. The company’s fifty day simple moving average is $7.73 and its 200 day simple moving average is $7.50. BlackRock Innovation and Growth Term Trust has a 12-month low of $6.66 and a 12-month high of $8.25.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Stockholders 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 dividend yield of 13.60%. The ex-dividend date is Wednesday, January 15th.

Institutional Investors Weigh In On BlackRock Innovation and Growth Term Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors lifted its stake 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 valued at $248,000 after buying an additional 1,500 shares during the period. Jane Street Group LLC lifted its position in shares of BlackRock Innovation and Growth Term Trust by 421.8% during 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 period. PFG Investments LLC boosted its stake in 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 worth $170,000 after acquiring an additional 10,099 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in BlackRock Innovation and Growth Term Trust in the third quarter worth $1,690,000. Finally, Sanctuary Advisors LLC bought a new stake in BlackRock Innovation and Growth Term Trust in the second quarter valued at $1,401,000.

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.