BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Short Interest Up 26.7% in October

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 198,200 shares, a growth of 26.7% from the September 30th total of 156,400 shares. Based on an average trading volume of 639,600 shares, the days-to-cover ratio is currently 0.3 days.

Insider Activity at BlackRock Innovation and Growth Term Trust

In related news, major shareholder Saba Capital Management, L.P. bought 83,903 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was bought at an average price of $6.95 per share, for a total transaction of $583,125.85. Following the transaction, the insider now directly owns 54,393,065 shares in the company, valued at $378,031,801.75. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 1,448,092 shares of company stock worth $10,824,439 over the last quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. J.W. Cole Advisors Inc. bought a new stake in BlackRock Innovation and Growth Term Trust in the second quarter valued at $75,000. Tempus Wealth Planning LLC acquired a new stake in shares of BlackRock Innovation and Growth Term Trust during the second quarter worth approximately $76,000. Whittier Trust Co. acquired a new position in shares of BlackRock Innovation and Growth Term Trust in the 1st quarter worth approximately $122,000. Dakota Wealth Management grew its holdings in shares of BlackRock Innovation and Growth Term Trust by 9.4% during the second quarter. Dakota Wealth Management now owns 21,217 shares of the company’s stock worth $153,000 after purchasing an additional 1,824 shares during the last quarter. Finally, PFG Investments LLC raised its position in BlackRock Innovation and Growth Term Trust by 75.1% in the 2nd quarter. PFG Investments LLC now owns 23,538 shares of the company’s stock worth $170,000 after purchasing an additional 10,099 shares during the last quarter.

BlackRock Innovation and Growth Term Trust Price Performance

Shares of NYSE:BIGZ traded up $0.07 on Wednesday, reaching $7.68. The company had a trading volume of 105,591 shares, compared to its average volume of 699,227. BlackRock Innovation and Growth Term Trust has a twelve month low of $6.24 and a twelve month high of $8.25. The stock has a 50-day moving average price of $7.49 and a 200 day moving average price of $7.36.

BlackRock Innovation and Growth Term Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be given a dividend of $0.0864 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.04 annualized dividend and a dividend yield of 13.51%.

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.