Saba Capital Management, L.P. Acquires 31,631 Shares of BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Stock

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) major shareholder Saba Capital Management, L.P. acquired 31,631 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was acquired at an average cost of $7.33 per share, for a total transaction of $231,855.23. Following the acquisition, the insider now owns 54,873,172 shares of the company’s stock, valued at approximately $402,220,350.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, August 23rd, Saba Capital Management, L.P. acquired 30,643 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.32 per share, with a total value of $224,306.76.
• On Wednesday, August 21st, Saba Capital Management, L.P. acquired 83,524 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $7.27 per share, for a total transaction of $607,219.48.
• On Monday, August 19th, Saba Capital Management, L.P. bought 36,418 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.22 per share, with a total value of $262,937.96.
• On Wednesday, August 7th, Saba Capital Management, L.P. purchased 83,903 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $6.95 per share, for a total transaction of $583,125.85.
• On Monday, August 5th, Saba Capital Management, L.P. bought 13,283 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $6.83 per share, with a total value of $90,722.89.
• On Thursday, August 1st, Saba Capital Management, L.P. bought 400 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.30 per share, for a total transaction of $2,920.00.
• On Monday, July 29th, Saba Capital Management, L.P. bought 27,528 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price of $7.25 per share, with a total value of $199,578.00.
• On Friday, July 26th, Saba Capital Management, L.P. bought 4,902 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average price of $7.24 per share, with a total value of $35,490.48.
• On Wednesday, July 24th, Saba Capital Management, L.P. bought 116,570 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average price of $7.30 per share, with a total value of $850,961.00.
• On Monday, July 22nd, Saba Capital Management, L.P. purchased 20,254 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.35 per share, for a total transaction of $148,866.90.

BlackRock Innovation and Growth Term Trust Price Performance

BIGZ stock opened at $7.43 on Thursday. BlackRock Innovation and Growth Term Trust has a one year low of $6.21 and a one year high of $8.25. The firm has a 50-day simple moving average of $7.28 and a two-hundred day simple moving average of $7.43.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be given a dividend of $0.0864 per share. This represents a $1.04 annualized dividend and a yield of 13.96%. The ex-dividend date is Tuesday, October 15th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sessa Capital IM L.P. boosted its stake in shares of 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 acquiring an additional 356,372 shares during the last quarter. Karpus Management Inc. grew its position in BlackRock Innovation and Growth Term Trust by 24.2% in the 1st quarter. Karpus Management Inc. now owns 1,495,480 shares of the company’s stock valued at $12,173,000 after acquiring an additional 291,622 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in BlackRock Innovation and Growth Term Trust during the 2nd quarter worth approximately $4,192,000. Almitas Capital LLC acquired a new stake in shares of BlackRock Innovation and Growth Term Trust in the second quarter valued at $3,928,000. Finally, Quarry LP raised its position in BlackRock Innovation and Growth Term Trust by 251.2% in the 2nd quarter. Quarry LP now owns 397,934 shares of the company’s stock valued at $2,877,000 after purchasing an additional 284,634 shares in the last quarter.

About BlackRock Innovation and Growth Term Trust

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.