Saba Capital Management, L.P. Buys 266,732 Shares of BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Stock

Posted by Maddie Sorensen on Nov 29th, 2024

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 266,732 shares of the business’s stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $7.96 per share, for a total transaction of $2,123,186.72. Following the completion of the transaction, the insider now directly owns 58,126,891 shares in the company, valued at $462,690,052.36. This trade represents a 0.46 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 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 Friday, November 22nd, Saba Capital Management, L.P. bought 68,422 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought 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. purchased 92,376 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.60 per share, with a total value of $702,057.60.
On Wednesday, November 13th, Saba Capital Management, L.P. purchased 94,406 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.82 per share, for a total transaction of $738,254.92.
On Monday, November 11th, Saba Capital Management, L.P. acquired 22,616 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.83 per share, with a total value of $177,083.28.
On Thursday, November 7th, Saba Capital Management, L.P. purchased 40,719 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.71 per share, for a total transaction of $313,943.49.
On Tuesday, November 5th, Saba Capital Management, L.P. acquired 16,939 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.47 per share, with a total value of $126,534.33.
On Wednesday, October 30th, Saba Capital Management, L.P. bought 61,003 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.66 per share, with a total value of $467,282.98.
On Monday, October 28th, Saba Capital Management, L.P. purchased 123,691 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.62 per share, for a total transaction of $942,525.42.
On Friday, October 25th, Saba Capital Management, L.P. acquired 68,934 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.55 per share, with a total value of $520,451.70.
On Wednesday, October 23rd, Saba Capital Management, L.P. bought 76,043 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.52 per share, for a total transaction of $571,843.36.

BlackRock Innovation and Growth Term Trust Trading Down 1.0 %

Shares of BIGZ opened at $7.92 on Friday. The stock has a 50 day moving average price of $7.64 and a 200 day moving average price of $7.43. BlackRock Innovation and Growth Term Trust has a one year low of $6.66 and a one year high of $8.25.

BlackRock Innovation and Growth Term Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.0863 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 13.08%. The ex-dividend date of this dividend is Friday, November 15th.

Hedge Funds Weigh In On BlackRock Innovation and Growth Term Trust

Several hedge funds and other institutional investors have recently modified their holdings of the business. Penserra Capital Management LLC acquired a new stake in BlackRock Innovation and Growth Term Trust in the 3rd quarter valued at about $15,076,000. Wolverine Asset Management LLC purchased a new stake in shares of BlackRock Innovation and Growth Term Trust in the second quarter valued at approximately $4,192,000. Rivernorth Capital Management LLC increased its holdings in shares of BlackRock Innovation and Growth Term Trust by 101.6% in the third quarter. Rivernorth Capital Management LLC now owns 1,104,819 shares of the company’s stock valued at $8,341,000 after purchasing an additional 556,835 shares during the last quarter. Almitas Capital LLC purchased a new position in BlackRock Innovation and Growth Term Trust during the second quarter worth approximately $3,928,000. Finally, Sessa Capital IM L.P. boosted its stake in BlackRock Innovation and Growth Term Trust by 15.0% during the second quarter. Sessa Capital IM L.P. now owns 2,739,993 shares of the company’s stock worth $19,810,000 after buying an additional 356,372 shares during the last quarter.

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.