Saba Capital Management, L.P. Acquires 315,074 Shares of BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Stock

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) major shareholder Saba Capital Management, L.P. bought 315,074 shares of the stock in a transaction dated Wednesday, September 18th. The shares were bought at an average cost of $7.47 per share, with a total value of $2,353,602.78. Following the completion of the acquisition, the insider now directly owns 55,339,170 shares of the company’s stock, valued at approximately $413,383,599.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Monday, September 16th, Saba Capital Management, L.P. acquired 31,631 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.33 per share, for a total transaction of $231,855.23.
• On Friday, August 23rd, Saba Capital Management, L.P. purchased 30,643 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased 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 shares were acquired 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. acquired 36,418 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.22 per share, with a total value of $262,937.96.
• On Wednesday, August 7th, Saba Capital Management, L.P. bought 83,903 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $6.95 per share, for a total transaction of $583,125.85.
• On Monday, August 5th, Saba Capital Management, L.P. purchased 13,283 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average price of $6.83 per share, with a total value of $90,722.89.
• On Thursday, August 1st, Saba Capital Management, L.P. purchased 400 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired 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. purchased 27,528 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.25 per share, for a total transaction 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, with a total value of $35,490.48.
• On Wednesday, July 24th, Saba Capital Management, L.P. acquired 116,570 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.30 per share, for a total transaction of $850,961.00.

BlackRock Innovation and Growth Term Trust Stock Performance

BlackRock Innovation and Growth Term Trust stock opened at $7.49 on Friday. BlackRock Innovation and Growth Term Trust has a 1-year low of $6.21 and a 1-year high of $8.25. The firm’s fifty day simple moving average is $7.29 and its 200-day simple moving average is $7.43.

BlackRock Innovation and Growth Term Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.0864 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.04 annualized dividend and a yield of 13.85%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Dakota Wealth Management grew its stake in BlackRock Innovation and Growth Term Trust by 9.4% in the 2nd quarter. Dakota Wealth Management now owns 21,217 shares of the company’s stock valued at $153,000 after buying an additional 1,824 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of BlackRock Innovation and Growth Term Trust by 5.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 65,521 shares of the company’s stock valued at $480,000 after buying an additional 3,105 shares during the last quarter. Thompson Investment Management Inc. acquired a new position in shares of BlackRock Innovation and Growth Term Trust during the first quarter valued at about $33,000. B. Riley Wealth Advisors Inc. lifted its stake in shares of BlackRock Innovation and Growth Term Trust by 14.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 38,560 shares of the company’s stock valued at $314,000 after buying an additional 4,810 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in BlackRock Innovation and Growth Term Trust by 20.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 29,335 shares of the company’s stock worth $215,000 after buying an additional 5,040 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.