Saba Capital Management, L.P. Buys 355,173 Shares of BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Stock

Posted by Brian Wu on Dec 17th, 2024

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 355,173 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price of $7.87 per share, for a total transaction of $2,795,211.51. Following the purchase, the insider now directly owns 58,963,110 shares in the company, valued at approximately $464,039,675.70. The trade was a 0.61 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

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

On Wednesday, December 4th, Saba Capital Management, L.P. purchased 185,716 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $8.07 per share, with a total value of $1,498,728.12.
On Monday, December 2nd, Saba Capital Management, L.P. acquired 94,924 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.98 per share, for a total transaction of $757,493.52.
On Monday, November 25th, Saba Capital Management, L.P. acquired 266,732 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.96 per share, with a total value of $2,123,186.72.
On Friday, November 22nd, Saba Capital Management, L.P. bought 68,422 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased 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. bought 92,376 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.60 per share, for a total transaction of $702,057.60.
On Wednesday, November 13th, Saba Capital Management, L.P. purchased 94,406 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.82 per share, with a total value 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 stock was acquired at an average price of $7.83 per share, for a total transaction 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 shares were acquired at an average price of $7.71 per share, with a total value of $313,943.49.
On Tuesday, November 5th, Saba Capital Management, L.P. purchased 16,939 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $7.47 per share, for a total transaction of $126,534.33.
On Wednesday, October 30th, Saba Capital Management, L.P. acquired 61,003 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.66 per share, for a total transaction of $467,282.98.

BlackRock Innovation and Growth Term Trust Stock Performance

Shares of NYSE:BIGZ opened at $7.91 on Tuesday. The firm has a fifty day moving average price of $7.74 and a 200 day moving average price of $7.48. BlackRock Innovation and Growth Term Trust has a fifty-two week low of $6.66 and a fifty-two week high of $8.25.

BlackRock Innovation and Growth Term Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Monday, December 16th will be issued a dividend of $0.0868 per share. This represents a $1.04 annualized dividend and a dividend yield of 13.16%. The ex-dividend date of this dividend is Monday, December 16th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Penserra Capital Management LLC purchased a new stake in shares of BlackRock Innovation and Growth Term Trust in the third quarter worth about $15,076,000. Rivernorth Capital Management LLC raised its holdings in shares of BlackRock Innovation and Growth Term Trust by 108.5% during the 3rd quarter. Rivernorth Capital Management LLC now owns 1,142,760 shares of the company’s stock worth $8,628,000 after acquiring an additional 594,776 shares in the last quarter. Wolverine Asset Management LLC bought a new position in shares of BlackRock Innovation and Growth Term Trust during the 2nd quarter valued at approximately $4,192,000. Almitas Capital LLC purchased a new position in shares of BlackRock Innovation and Growth Term Trust in the second quarter valued at $3,928,000. Finally, Sessa Capital IM L.P. increased 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 purchasing an additional 356,372 shares during 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.