Saba Capital Management, L.P. Buys 152,676 Shares of BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Stock

Posted by MarketBeat News on Mar 29th, 2024

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. acquired 152,676 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was bought at an average price of $7.98 per share, with a total value of $1,218,354.48. Following the transaction, the insider now directly owns 51,571,618 shares in the company, valued at $411,541,511.64. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

On Friday, March 22nd, Saba Capital Management, L.P. bought 100,000 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.97 per share, with a total value of $797,000.00.
On Wednesday, March 20th, Saba Capital Management, L.P. bought 241,858 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $7.84 per share, with a total value of $1,896,166.72.
On Thursday, March 7th, Saba Capital Management, L.P. bought 17,047 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average cost of $8.04 per share, with a total value of $137,057.88.
On Thursday, February 29th, Saba Capital Management, L.P. purchased 60,078 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $8.01 per share, with a total value of $481,224.78.
On Monday, February 26th, Saba Capital Management, L.P. purchased 273,686 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $8.11 per share, with a total value of $2,219,593.46.
On Thursday, February 22nd, Saba Capital Management, L.P. purchased 178,566 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $8.03 per share, with a total value of $1,433,884.98.
On Tuesday, February 20th, Saba Capital Management, L.P. purchased 56,252 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $7.91 per share, with a total value of $444,953.32.
On Thursday, February 15th, Saba Capital Management, L.P. purchased 486,478 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $8.07 per share, with a total value of $3,925,877.46.
On Monday, February 12th, Saba Capital Management, L.P. purchased 432,560 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $8.23 per share, with a total value of $3,559,968.80.
On Friday, February 9th, Saba Capital Management, L.P. purchased 222,038 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $8.13 per share, with a total value of $1,805,168.94.

BlackRock Innovation and Growth Term Trust Price Performance

Shares of BIGZ stock opened at $8.16 on Friday. BlackRock Innovation and Growth Term Trust has a 12-month low of $6.21 and a 12-month high of $8.35. The firm has a fifty day moving average of $7.89 and a 200-day moving average of $7.35.

BlackRock Innovation and Growth Term Trust Cuts Dividend

Want More Great Investing Ideas?

The business also recently announced a monthly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.0445 dividend. This represents a $0.53 dividend on an annualized basis and a yield of 6.54%. The ex-dividend date was Thursday, March 14th.

Hedge Funds Weigh In On BlackRock Innovation and Growth Term Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its stake in BlackRock Innovation and Growth Term Trust by 20.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 29,335 shares of the company’s stock worth $215,000 after purchasing an additional 5,040 shares during the period. Skyline Advisors Inc. acquired a new position in BlackRock Innovation and Growth Term Trust in the 4th quarter worth $98,000. Virtu Financial LLC boosted its stake in BlackRock Innovation and Growth Term Trust by 84.6% in the 4th quarter. Virtu Financial LLC now owns 39,245 shares of the company’s stock worth $288,000 after purchasing an additional 17,987 shares during the period. Baird Financial Group Inc. boosted its stake in BlackRock Innovation and Growth Term Trust by 4.0% in the 4th quarter. Baird Financial Group Inc. now owns 83,522 shares of the company’s stock worth $612,000 after purchasing an additional 3,195 shares during the period. Finally, Citadel Advisors LLC acquired a new position in BlackRock Innovation and Growth Term Trust in the 4th quarter worth $134,000.

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.