BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Short Interest Up 18.5% in March

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) saw a large growth in short interest during the month of March. As of March 31st, there was short interest totalling 149,200 shares, a growth of 18.5% from the March 15th total of 125,900 shares. Based on an average trading volume of 732,000 shares, the short-interest ratio is presently 0.2 days.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. purchased 39,441 shares of the company’s stock in a transaction dated Thursday, January 18th. The stock was bought at an average cost of $7.22 per share, for a total transaction of $284,764.02. Following the purchase, the insider now owns 44,116,615 shares of the company’s stock, valued at $318,521,960.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders bought 4,645,301 shares of company stock worth $36,547,670.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. raised its position in BlackRock Innovation and Growth Term Trust by 2.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 1,323,570 shares of the company’s stock worth $9,702,000 after purchasing an additional 36,177 shares during the last quarter. AQR Arbitrage LLC raised its position in BlackRock Innovation and Growth Term Trust by 40.3% during the 3rd quarter. AQR Arbitrage LLC now owns 202,945 shares of the company’s stock worth $1,412,000 after purchasing an additional 58,280 shares during the last quarter. Alpine Global Management LLC raised its position in BlackRock Innovation and Growth Term Trust by 139.2% during the 3rd quarter. Alpine Global Management LLC now owns 145,098 shares of the company’s stock worth $1,010,000 after purchasing an additional 84,448 shares during the last quarter. Qube Research & Technologies Ltd raised its position in BlackRock Innovation and Growth Term Trust by 17.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 285,220 shares of the company’s stock worth $1,985,000 after purchasing an additional 41,850 shares during the last quarter. Finally, Successful Portfolios LLC bought a new position in BlackRock Innovation and Growth Term Trust during the 4th quarter worth $108,000.

BlackRock Innovation and Growth Term Trust Trading Down 2.4 %

Shares of BIGZ opened at $7.26 on Tuesday. BlackRock Innovation and Growth Term Trust has a 52 week low of $6.21 and a 52 week high of $8.35. The stock has a fifty day moving average of $7.94 and a 200-day moving average of $7.42.

BlackRock Innovation and Growth Term Trust Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a dividend of $0.0445 per share. This is a positive change from BlackRock Innovation and Growth Term Trust’s previous monthly dividend of $0.04. This represents a $0.53 annualized dividend and a yield of 7.35%. The ex-dividend date is Friday, April 12th.

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.