Saba Capital Management, L.P. Acquires 23,267 Shares of BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Stock

by · The Markets Daily

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 23,267 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were bought at an average cost of $7.61 per share, for a total transaction of $177,061.87. Following the transaction, the insider now directly owns 55,775,218 shares of the company’s stock, valued at approximately $424,449,408.98. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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, September 30th, Saba Capital Management, L.P. acquired 19,386 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.57 per share, for a total transaction of $146,752.02.
  • On Wednesday, September 25th, Saba Capital Management, L.P. acquired 31,988 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.52 per share, for a total transaction of $240,549.76.
  • On Monday, September 23rd, Saba Capital Management, L.P. acquired 118,879 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.51 per share, for a total transaction of $892,781.29.
  • On Wednesday, September 18th, Saba Capital Management, L.P. acquired 315,074 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.47 per share, for a total transaction of $2,353,602.78.
  • On Monday, September 16th, Saba Capital Management, L.P. bought 31,631 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired 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. bought 30,643 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost 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 stock was 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. bought 36,418 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $7.22 per share, for a total transaction 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 stock was acquired 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. bought 13,283 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $6.83 per share, for a total transaction of $90,722.89.

BlackRock Innovation and Growth Term Trust Price Performance

NYSE:BIGZ opened at $7.59 on Wednesday. The business’s fifty day moving average price is $7.31 and its 200 day moving average price is $7.40. BlackRock Innovation and Growth Term Trust has a 12 month low of $6.21 and a 12 month high of $8.25.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be paid a $0.0864 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $1.04 annualized dividend and a yield of 13.68%.

Hedge Funds Weigh In On BlackRock Innovation and Growth Term Trust

Several large investors have recently bought and sold shares of the stock. Sessa Capital IM L.P. boosted its stake 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 valued at $19,810,000 after acquiring an additional 356,372 shares in the last quarter. Karpus Management Inc. boosted its stake in BlackRock Innovation and Growth Term Trust by 24.2% in the first quarter. Karpus Management Inc. now owns 1,495,480 shares of the company’s stock valued at $12,173,000 after acquiring an additional 291,622 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in BlackRock Innovation and Growth Term Trust in the second quarter valued at $4,192,000. Almitas Capital LLC acquired a new position in BlackRock Innovation and Growth Term Trust in the second quarter valued at $3,928,000. Finally, Quarry LP boosted its stake in BlackRock Innovation and Growth Term Trust by 251.2% in the second quarter. Quarry LP now owns 397,934 shares of the company’s stock valued at $2,877,000 after acquiring an additional 284,634 shares in the last quarter.

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.

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