BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Short Interest Up 18.5% in March

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 149,200 shares, a growth of 18.5% from the March 15th total of 125,900 shares. Based on an average daily volume of 732,000 shares, the days-to-cover ratio is presently 0.2 days.

Insider Activity at BlackRock Innovation and Growth Term Trust

In related news, major shareholder Saba Capital Management, L.P. acquired 155,567 shares of BlackRock Innovation and Growth Term Trust stock in a transaction that occurred on Monday, January 22nd. The stock was acquired at an average price of $7.37 per share, for a total transaction of $1,146,528.79. Following the transaction, the insider now directly owns 44,463,454 shares of the company’s stock, valued at approximately $327,695,655.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders purchased 4,645,301 shares of company stock worth $36,547,670 in the last 90 days.

Institutional Trading of BlackRock Innovation and Growth Term Trust

Several institutional investors have recently modified their holdings of BIGZ. Wolverine Asset Management LLC acquired a new stake in shares of BlackRock Innovation and Growth Term Trust in the third quarter valued at $27,000. Thompson Investment Management Inc. acquired a new stake in shares of BlackRock Innovation and Growth Term Trust during the first quarter worth $33,000. CWM LLC raised its position in shares of BlackRock Innovation and Growth Term Trust by 5,155.0% during the third quarter. CWM LLC now owns 6,306 shares of the company’s stock worth $44,000 after purchasing an additional 6,186 shares during the period. PNC Financial Services Group Inc. raised its position in shares of BlackRock Innovation and Growth Term Trust by 272.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,696 shares of the company’s stock worth $46,000 after purchasing an additional 4,896 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in shares of BlackRock Innovation and Growth Term Trust during the second quarter worth $71,000.

BlackRock Innovation and Growth Term Trust Trading Down 2.4 %

Shares of BIGZ stock opened at $7.26 on Tuesday. BlackRock Innovation and Growth Term Trust has a 1 year low of $6.21 and a 1 year high of $8.35. The stock has a fifty day moving average of $7.94 and a two-hundred day moving average of $7.42.

BlackRock Innovation and Growth Term Trust Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be given a dividend of $0.0445 per share. This represents a $0.53 dividend on an annualized basis and a yield of 7.35%. The ex-dividend date of this dividend is Friday, April 12th. This is a positive change from BlackRock Innovation and Growth Term Trust’s previous monthly dividend of $0.04.

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.