BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Stock Price Up 4.1% – Here’s What Happened

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ)’s stock price traded up 4.1% during mid-day trading on Thursday . The company traded as high as $8.67 and last traded at $8.63. 1,541,937 shares were traded during trading, an increase of 120% from the average session volume of 702,427 shares. The stock had previously closed at $8.29.

BlackRock Innovation and Growth Term Trust Stock Performance

The business has a 50 day moving average of $7.12 and a 200-day moving average of $6.85.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BIGZ. Lazard Asset Management LLC grew its stake in BlackRock Innovation and Growth Term Trust by 16.5% during the 2nd quarter. Lazard Asset Management LLC now owns 2,871,719 shares of the company’s stock worth $21,078,000 after buying an additional 406,287 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in BlackRock Innovation and Growth Term Trust during the 2nd quarter worth approximately $1,594,000. Quantinno Capital Management LP purchased a new position in BlackRock Innovation and Growth Term Trust during the 2nd quarter worth approximately $1,072,000. Ameriprise Financial Inc. grew its stake in BlackRock Innovation and Growth Term Trust by 25.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 454,913 shares of the company’s stock worth $3,339,000 after buying an additional 92,726 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in BlackRock Innovation and Growth Term Trust during the 2nd quarter worth approximately $96,000.

BlackRock Innovation and Growth Term Trust Company Profile

BlackRock Innovation and Growth Term Trust (NYSE: BIGZ) is a closed-end management investment company sponsored by BlackRock Fund Advisors. Launched in May 2020, the trust is structured with a predetermined termination date and trades on the New York Stock Exchange. As a term trust, BIGZ offers investors exposure to a diversified portfolio of growth-oriented equity and equity-related securities, with the goal of delivering long-term capital appreciation.

The trust pursues its investment objective by focusing on companies that are positioned to benefit from innovation, technological advancements and structural shifts across multiple industries.