Insider Buying: BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Buys $795,362.82 in Stock

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) major shareholder Saba Capital Management, L.P. acquired 106,617 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were purchased at an average cost of $7.46 per share, for a total transaction of $795,362.82. Following the completion of the acquisition, the insider now owns 60,262,743 shares in the company, valued at $449,560,062.78. This represents a 0.18 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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, January 6th, Saba Capital Management, L.P. purchased 282,123 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.72 per share, for a total transaction of $2,177,989.56.
• On Monday, December 30th, Saba Capital Management, L.P. acquired 279,479 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost 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 acquired 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 price of $7.87 per share, for a total transaction of $2,795,211.51.
• On Wednesday, December 4th, Saba Capital Management, L.P. bought 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. purchased 94,924 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.98 per share, for a total transaction of $757,493.52.
• On Monday, November 25th, Saba Capital Management, L.P. acquired 266,732 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought 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. bought 68,422 shares of BlackRock Innovation and Growth Term Trust stock. The stock was 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 cost of $7.60 per share, with a total value of $702,057.60.

BlackRock Innovation and Growth Term Trust Stock Up 0.7 %

Shares of NYSE:BIGZ opened at $7.66 on Thursday. The company has a 50-day moving average price of $7.73 and a 200-day moving average price of $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 declared a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.0868 per share. This represents a $1.04 dividend on an annualized basis and a yield of 13.60%. The ex-dividend date is Wednesday, January 15th.

Institutional Investors Weigh In On BlackRock Innovation and Growth Term Trust

Several institutional investors and hedge funds have recently bought and sold shares of BIGZ. Garden State Investment Advisory Services LLC bought a new position in shares of BlackRock Innovation and Growth Term Trust during the third quarter valued at approximately $245,000. Rivernorth Capital Management LLC increased its position in BlackRock Innovation and Growth Term Trust by 108.5% during the 3rd quarter. Rivernorth Capital Management LLC now owns 1,142,760 shares of the company’s stock valued at $8,628,000 after purchasing an additional 594,776 shares during the period. Virtu Financial LLC bought a new position in BlackRock Innovation and Growth Term Trust in the 3rd quarter worth $191,000. Jane Street Group LLC lifted its position 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 worth $461,000 after purchasing an additional 49,367 shares during the period. Finally, Captrust Financial Advisors boosted its stake in shares of BlackRock Innovation and Growth Term Trust by 4.8% during the 3rd 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 in the last quarter.

BlackRock Innovation and Growth Term Trust Company Profile

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.