BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Purchases $2,177,989.56 in Stock

Posted by Mitch Edgeman 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 stock in a transaction dated Monday, January 6th. The shares were purchased at an average cost of $7.72 per share, for a total transaction 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 $467,953,705.80. This trade represents a 0.47 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

On Thursday, January 2nd, Saba Capital Management, L.P. purchased 106,617 shares of BlackRock Innovation and Growth Term Trust stock. The shares were 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. acquired 279,479 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average price of $7.45 per share, with a total value of $2,082,118.55.
On Thursday, December 26th, Saba Capital Management, L.P. bought 69,719 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.65 per share, for a total transaction of $533,350.35.
On Monday, December 16th, Saba Capital Management, L.P. purchased 350,000 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.91 per share, with a total value of $2,768,500.00.
On Thursday, December 12th, Saba Capital Management, L.P. acquired 355,173 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost 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 shares were bought at an average price of $8.07 per share, with a total value 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, for a total transaction 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 purchased at an average price 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 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. purchased 92,376 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.60 per share, for a total transaction of $702,057.60.

BlackRock Innovation and Growth Term Trust Price Performance

BlackRock Innovation and Growth Term Trust stock opened at $7.66 on Thursday. BlackRock Innovation and Growth Term Trust has a 52 week low of $6.66 and a 52 week high of $8.25. The company’s 50 day moving average price is $7.73 and its two-hundred day moving average price is $7.50.

BlackRock Innovation and Growth Term Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be issued a dividend of $0.0868 per share. The ex-dividend date is Wednesday, January 15th. This represents a $1.04 dividend on an annualized basis and a yield of 13.60%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BIGZ. Penserra Capital Management LLC bought a new stake in shares of BlackRock Innovation and Growth Term Trust during the 3rd quarter worth $15,076,000. Rivernorth Capital Management LLC increased its holdings in BlackRock Innovation and Growth Term Trust by 108.5% during the third 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. Almitas Capital LLC bought a new stake in BlackRock Innovation and Growth Term Trust in the second quarter worth about $3,928,000. Sessa Capital IM L.P. raised its position in 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 worth $19,810,000 after acquiring an additional 356,372 shares during the period. Finally, Quarry LP boosted its stake in BlackRock Innovation and Growth Term Trust by 251.2% in the second quarter. Quarry LP now owns 397,934 shares of the company’s stock valued at $2,877,000 after acquiring an additional 284,634 shares during the last quarter.

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.