Saba Capital Management, L.P. Buys 40,719 Shares of BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Stock

Posted by Maurice Goldstein on Nov 15th, 2024

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 40,719 shares of BlackRock Innovation and Growth Term Trust stock in a transaction dated Thursday, November 7th. The shares were acquired at an average price of $7.71 per share, with a total value of $313,943.49. Following the completion of the acquisition, the insider now directly owns 57,316,027 shares of the company’s stock, valued at approximately $441,906,568.17. The trade was a 0.07 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 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 cost of $7.82 per share, for a total transaction 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 bought at an average cost of $7.83 per share, with a total value of $177,083.28.
On Tuesday, November 5th, Saba Capital Management, L.P. bought 16,939 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 $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 purchased at an average cost of $7.66 per share, for a total transaction of $467,282.98.
On Monday, October 28th, Saba Capital Management, L.P. purchased 123,691 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average price of $7.62 per share, for a total transaction of $942,525.42.
On Friday, October 25th, Saba Capital Management, L.P. acquired 68,934 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.55 per share, with a total value of $520,451.70.
On Wednesday, October 23rd, Saba Capital Management, L.P. bought 76,043 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average price of $7.52 per share, for a total transaction of $571,843.36.
On Monday, October 21st, Saba Capital Management, L.P. purchased 64,641 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.59 per share, with a total value of $490,625.19.
On Friday, October 18th, Saba Capital Management, L.P. acquired 51,163 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average cost of $7.60 per share, for a total transaction of $388,838.80.
On Wednesday, October 16th, Saba Capital Management, L.P. purchased 64,275 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $7.58 per share, with a total value of $487,204.50.

BlackRock Innovation and Growth Term Trust Price Performance

Shares of BIGZ opened at $7.84 on Friday. BlackRock Innovation and Growth Term Trust has a 52-week low of $6.66 and a 52-week high of $8.25. The stock’s 50-day simple moving average is $7.56 and its 200 day simple moving average is $7.40.

BlackRock Innovation and Growth Term Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.0863 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 13.22%.

Hedge Funds Weigh In On BlackRock Innovation and Growth Term Trust

Several hedge funds have recently bought and sold shares of the company. J.W. Cole Advisors Inc. bought a new stake in BlackRock Innovation and Growth Term Trust during the second quarter valued at $75,000. Tempus Wealth Planning LLC purchased a new position in shares of BlackRock Innovation and Growth Term Trust during the second quarter worth about $76,000. Dakota Wealth Management increased its position in shares of BlackRock Innovation and Growth Term Trust by 9.4% in 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. PFG Investments LLC raised its stake in BlackRock Innovation and Growth Term Trust by 75.1% in the second quarter. PFG Investments LLC now owns 23,538 shares of the company’s stock valued at $170,000 after purchasing an additional 10,099 shares in the last quarter. Finally, Prudent Investors Network Inc. bought a new stake in BlackRock Innovation and Growth Term Trust during the first quarter valued at approximately $174,000.

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.