Ignite Planners LLC Cuts Stock Position in BlackRock Innovation and Growth Term Trust (NYSE:BIGZ)

Ignite Planners LLC lowered its stake in BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) by 12.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,388 shares of the company’s stock after selling 4,178 shares during the period. Ignite Planners LLC’s holdings in BlackRock Innovation and Growth Term Trust were worth $246,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its stake in BlackRock Innovation and Growth Term Trust by 20.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 29,335 shares of the company’s stock valued at $215,000 after purchasing an additional 5,040 shares during the last quarter. Skyline Advisors Inc. purchased a new stake in BlackRock Innovation and Growth Term Trust during the 4th quarter valued at $98,000. Virtu Financial LLC boosted its stake in BlackRock Innovation and Growth Term Trust by 84.6% during the 4th quarter. Virtu Financial LLC now owns 39,245 shares of the company’s stock valued at $288,000 after purchasing an additional 17,987 shares during the last quarter. LM Advisors LLC purchased a new position in shares of BlackRock Innovation and Growth Term Trust in the 4th quarter worth $1,133,000. Finally, Karpus Management Inc. boosted its stake in shares of BlackRock Innovation and Growth Term Trust by 54.3% in the 4th quarter. Karpus Management Inc. now owns 1,203,858 shares of the company’s stock worth $8,824,000 after buying an additional 423,468 shares during the last quarter.

Insider Transactions at BlackRock Innovation and Growth Term Trust

In other news, major shareholder Saba Capital Management, L.P. purchased 139,326 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were purchased at an average cost of $8.10 per share, for a total transaction of $1,128,540.60. Following the purchase, the insider now directly owns 52,103,294 shares in the company, valued at approximately $422,036,681.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

BlackRock Innovation and Growth Term Trust Stock Performance

Shares of BIGZ stock traded down $0.03 on Monday, reaching $7.17. The stock had a trading volume of 541,513 shares, compared to its average volume of 703,920. BlackRock Innovation and Growth Term Trust has a 1 year low of $6.21 and a 1 year high of $8.35. The company has a 50 day simple moving average of $7.33 and a 200 day simple moving average of $7.57.

BlackRock Innovation and Growth Term Trust Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.0889 dividend. This is an increase from BlackRock Innovation and Growth Term Trust’s previous monthly dividend of $0.04. This represents a $1.07 dividend on an annualized basis and a dividend yield of 14.88%. The ex-dividend date of this dividend is Friday, June 14th.

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.