BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Saba Capital Management, L.P. Acquires 31,631 Shares

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) major shareholder Saba Capital Management, L.P. purchased 31,631 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were purchased at an average price of $7.33 per share, for a total transaction of $231,855.23. Following the completion of the acquisition, the insider now directly owns 54,873,172 shares in the company, valued at approximately $402,220,350.76. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 Friday, August 23rd, Saba Capital Management, L.P. purchased 30,643 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average price of $7.32 per share, for a total transaction of $224,306.76.
• On Wednesday, August 21st, Saba Capital Management, L.P. bought 83,524 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.27 per share, for a total transaction of $607,219.48.
• On Monday, August 19th, Saba Capital Management, L.P. bought 36,418 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average price of $7.22 per share, with a total value of $262,937.96.
• On Wednesday, August 7th, Saba Capital Management, L.P. acquired 83,903 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $6.95 per share, with a total value of $583,125.85.
• On Monday, August 5th, Saba Capital Management, L.P. bought 13,283 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $6.83 per share, for a total transaction of $90,722.89.
• On Thursday, August 1st, Saba Capital Management, L.P. acquired 400 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average price of $7.30 per share, for a total transaction of $2,920.00.
• On Monday, July 29th, Saba Capital Management, L.P. bought 27,528 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.25 per share, with a total value of $199,578.00.
• On Friday, July 26th, Saba Capital Management, L.P. purchased 4,902 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.24 per share, for a total transaction of $35,490.48.
• On Wednesday, July 24th, Saba Capital Management, L.P. purchased 116,570 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.30 per share, for a total transaction of $850,961.00.
• On Monday, July 22nd, Saba Capital Management, L.P. bought 20,254 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.35 per share, for a total transaction of $148,866.90.

BlackRock Innovation and Growth Term Trust Stock Up 1.5 %

Shares of NYSE:BIGZ traded up $0.11 during midday trading on Tuesday, reaching $7.45. 222,718 shares of the company’s stock were exchanged, compared to its average volume of 731,479. BlackRock Innovation and Growth Term Trust has a fifty-two week low of $6.21 and a fifty-two week high of $8.25. The firm’s 50 day simple moving average is $7.28 and its two-hundred day simple moving average is $7.44.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.0864 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 13.92%. The ex-dividend date of this dividend is Tuesday, October 15th.

Hedge Funds Weigh In On BlackRock Innovation and Growth Term Trust

Large investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC acquired a new position in BlackRock Innovation and Growth Term Trust during the second quarter worth $1,401,000. Quarry LP boosted its stake in shares of 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 purchasing an additional 284,634 shares during the period. Almitas Capital LLC purchased a new stake in BlackRock Innovation and Growth Term Trust during the 2nd quarter worth approximately $3,928,000. Sessa Capital IM L.P. boosted its position in BlackRock Innovation and Growth Term Trust by 15.0% in the 2nd quarter. Sessa Capital IM L.P. now owns 2,739,993 shares of the company’s stock valued at $19,810,000 after buying an additional 356,372 shares during the period. Finally, Logan Stone Capital LLC acquired a new position in shares of BlackRock Innovation and Growth Term Trust in the second quarter worth $352,000.

About BlackRock Innovation and Growth Term Trust

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.