Wolverine Asset Management LLC Raises Position in BlackRock Innovation and Growth Term Trust (NYSE:BIGZ)

Wolverine Asset Management LLC grew its holdings in shares of BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) by 8,592.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 337,545 shares of the company’s stock after purchasing an additional 333,662 shares during the period. Wolverine Asset Management LLC’s holdings in BlackRock Innovation and Growth Term Trust were worth $2,474,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. CWM LLC increased its position in shares of BlackRock Innovation and Growth Term Trust by 5,155.0% in the 3rd quarter. CWM LLC now owns 6,306 shares of the company’s stock valued at $44,000 after acquiring an additional 6,186 shares during the period. OmniStar Financial Group Inc. acquired a new position in shares of BlackRock Innovation and Growth Term Trust in the 3rd quarter valued at $80,000. Kestra Advisory Services LLC increased its position in shares of BlackRock Innovation and Growth Term Trust by 17.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 13,533 shares of the company’s stock valued at $94,000 after acquiring an additional 2,005 shares during the period. Successful Portfolios LLC acquired a new position in shares of BlackRock Innovation and Growth Term Trust in the 4th quarter valued at $108,000. Finally, Dakota Wealth Management acquired a new position in shares of BlackRock Innovation and Growth Term Trust in the 3rd quarter valued at $128,000.

Insider Buying and Selling

In other news, major shareholder Saba Capital Management, L.P. bought 492,596 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was purchased at an average price of $7.57 per share, for a total transaction of $3,728,951.72. Following the completion of the purchase, the insider now owns 45,871,993 shares in the company, valued at approximately $347,250,987.01. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders bought 4,142,356 shares of company stock worth $32,809,929.

BlackRock Innovation and Growth Term Trust Stock Down 0.6 %

Shares of BlackRock Innovation and Growth Term Trust stock traded down $0.04 during trading hours on Wednesday, reaching $7.18. 666,864 shares of the company were exchanged, compared to its average volume of 729,105. BlackRock Innovation and Growth Term Trust has a 1 year low of $6.21 and a 1 year high of $8.35. The stock’s fifty day moving average is $7.84 and its 200 day moving average is $7.43.

BlackRock Innovation and Growth Term Trust Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a dividend of $0.0445 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.53 dividend on an annualized basis and a dividend yield of 7.43%. This is an increase from BlackRock Innovation and Growth Term Trust’s previous monthly dividend of $0.04.

BlackRock Innovation and Growth Term Trust 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.