Insider Buying: BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Buys 106,617 Shares of Stock

Posted by Erica Schwartz on Jan 8th, 2025

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 106,617 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were purchased at an average price of $7.46 per share, for a total transaction of $795,362.82. Following the transaction, the insider now directly owns 60,262,743 shares of the company’s stock, valued at approximately $449,560,062.78. The trade was a 0.18 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 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, January 6th, Saba Capital Management, L.P. purchased 282,123 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.72 per share, for a total transaction of $2,177,989.56.
On Monday, December 30th, Saba Capital Management, L.P. acquired 279,479 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.45 per share, with a total value of $2,082,118.55.
On Thursday, December 26th, Saba Capital Management, L.P. bought 69,719 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.65 per share, for a total transaction of $533,350.35.
On Monday, December 16th, Saba Capital Management, L.P. purchased 350,000 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.91 per share, with a total value of $2,768,500.00.
On Thursday, December 12th, Saba Capital Management, L.P. acquired 355,173 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $7.87 per share, for a total transaction of $2,795,211.51.
On Wednesday, December 4th, Saba Capital Management, L.P. bought 185,716 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average price of $8.07 per share, with a total value of $1,498,728.12.
On Monday, December 2nd, Saba Capital Management, L.P. purchased 94,924 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average price 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 stock was bought 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. purchased 92,376 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.60 per share, with a total value of $702,057.60.

BlackRock Innovation and Growth Term Trust Price Performance

Shares of NYSE:BIGZ opened at $7.63 on Wednesday. The business’s 50 day moving average is $7.73 and its 200 day moving average is $7.50. BlackRock Innovation and Growth Term Trust has a 52-week low of $6.66 and a 52-week high of $8.25.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.0868 per share. The ex-dividend date is Wednesday, January 15th. This represents a $1.04 annualized dividend and a dividend yield of 13.65%.

Institutional Trading of BlackRock Innovation and Growth Term Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors grew its holdings in BlackRock Innovation and Growth Term Trust by 4.8% during the 3rd quarter. Captrust Financial Advisors now owns 32,800 shares of the company’s stock worth $248,000 after acquiring an additional 1,500 shares in the last quarter. Jane Street Group LLC boosted its stake in shares of BlackRock Innovation and Growth Term Trust by 421.8% during the third quarter. Jane Street Group LLC now owns 61,072 shares of the company’s stock valued at $461,000 after purchasing an additional 49,367 shares in the last quarter. PFG Investments LLC increased its holdings in BlackRock Innovation and Growth Term Trust by 75.1% during the second quarter. PFG Investments LLC now owns 23,538 shares of the company’s stock valued at $170,000 after buying an additional 10,099 shares during the period. International Assets Investment Management LLC bought a new stake in BlackRock Innovation and Growth Term Trust during the 3rd quarter valued at $1,690,000. Finally, Sanctuary Advisors LLC purchased a new position in BlackRock Innovation and Growth Term Trust in the second quarter valued at about $1,401,000.

BlackRock Innovation and Growth Term Trust Company Profile

(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.