Saba Capital Management, L.P. Acquires 94,924 Shares of BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Stock

Posted by Lauren Steadman on Dec 3rd, 2024

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 94,924 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was purchased at an average price of $7.98 per share, for a total transaction of $757,493.52. Following the purchase, the insider now owns 58,237,616 shares in the company, valued at $464,736,175.68. This represents a 0.16 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

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

On Monday, November 25th, Saba Capital Management, L.P. bought 266,732 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.96 per share, with a total value of $2,123,186.72.
On Friday, November 22nd, Saba Capital Management, L.P. acquired 68,422 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired 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 shares were acquired 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. bought 94,406 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price 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 shares were bought 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. bought 40,719 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.71 per share, with a total value 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 cost of $7.47 per share, with a total value of $126,534.33.
On Wednesday, October 30th, Saba Capital Management, L.P. purchased 61,003 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.66 per share, for a total transaction of $467,282.98.
On Monday, October 28th, Saba Capital Management, L.P. acquired 123,691 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average price of $7.62 per share, with a total value 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, for a total transaction of $520,451.70.

BlackRock Innovation and Growth Term Trust Stock Performance

BIGZ stock traded down $0.05 during trading on Tuesday, hitting $7.97. 287,019 shares of the company’s stock traded hands, compared to its average volume of 693,458. BlackRock Innovation and Growth Term Trust has a 1 year low of $6.66 and a 1 year high of $8.25. The business has a fifty day simple moving average of $7.65 and a two-hundred day simple moving average of $7.44.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.0863 per share. This represents a $1.04 annualized dividend and a yield of 13.00%. The ex-dividend date of this dividend was Friday, November 15th.

Institutional Investors Weigh In On BlackRock Innovation and Growth Term Trust

Several hedge funds have recently modified their holdings of the company. Sessa Capital IM L.P. grew its position in BlackRock Innovation and Growth Term Trust by 15.0% in the second quarter. Sessa Capital IM L.P. now owns 2,739,993 shares of the company’s stock worth $19,810,000 after acquiring an additional 356,372 shares during the period. Penserra Capital Management LLC acquired a new position in shares of BlackRock Innovation and Growth Term Trust during the third quarter worth about $15,076,000. Rivernorth Capital Management LLC increased its position in shares of BlackRock Innovation and Growth Term Trust by 108.5% in the 3rd quarter. Rivernorth Capital Management LLC now owns 1,142,760 shares of the company’s stock valued at $8,628,000 after purchasing an additional 594,776 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in BlackRock Innovation and Growth Term Trust in the second quarter valued at $4,192,000. Finally, Almitas Capital LLC purchased a new stake in BlackRock Innovation and Growth Term Trust during the 2nd quarter worth about $3,928,000.

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.