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. purchased 106,617 shares of BlackRock Innovation and Growth Term Trust stock in a transaction that occurred on Thursday, January 2nd. The stock was purchased at an average cost of $7.46 per share, for a total transaction of $795,362.82. Following the completion of the purchase, the insider now owns 60,262,743 shares of the company’s stock, valued at $449,560,062.78. This trade represents a 0.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, January 6th, Saba Capital Management, L.P. bought 282,123 shares of BlackRock Innovation and Growth Term Trust stock. The stock was 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. purchased 279,479 shares of BlackRock Innovation and Growth Term Trust stock. The shares were 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 shares were acquired at an average cost of $7.65 per share, with a total value 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 stock was bought at an average cost of $7.91 per share, for a total transaction 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 shares were 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. bought 185,716 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $8.07 per share, for a total transaction 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, with a total value 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 purchased at an average cost of $7.96 per share, for a total transaction 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 price of $7.86 per share, for a total transaction of $537,796.92.
• On Tuesday, November 19th, Saba Capital Management, L.P. acquired 92,376 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.60 per share, with a total value of $702,057.60.

BlackRock Innovation and Growth Term Trust Trading Up 0.7 %

Shares of BIGZ opened at $7.66 on Thursday. The business’s fifty day simple moving average is $7.73 and its two-hundred day simple moving average is $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 Announces Dividend

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

Hedge Funds Weigh In On BlackRock Innovation and Growth Term Trust

A number of hedge funds 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 in the third quarter worth approximately $15,076,000. Rivernorth Capital Management LLC boosted its holdings in BlackRock Innovation and Growth Term Trust by 108.5% in the third quarter. Rivernorth Capital Management LLC now owns 1,142,760 shares of the company’s stock worth $8,628,000 after purchasing an additional 594,776 shares during the last quarter. Almitas Capital LLC purchased a new stake in BlackRock Innovation and Growth Term Trust in the second quarter worth approximately $3,928,000. Sessa Capital IM L.P. grew 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 worth $19,810,000 after purchasing an additional 356,372 shares during the period. Finally, Quarry LP raised its stake in BlackRock Innovation and Growth Term Trust by 251.2% during the 2nd quarter. Quarry LP now owns 397,934 shares of the company’s stock valued at $2,877,000 after buying an additional 284,634 shares during 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.