Saba Capital Management, L.P. Purchases 252,855 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. purchased 252,855 shares of BlackRock Innovation and Growth Term Trust stock in a transaction that occurred on Monday, July 1st. The shares were bought at an average cost of $7.25 per share, with a total value of $1,833,198.75. Following the completion of the transaction, the insider now directly owns 52,356,149 shares of the company’s stock, valued at approximately $379,582,080.25. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

BlackRock Innovation and Growth Term Trust Trading Up 1.1 %

Shares of BlackRock Innovation and Growth Term Trust stock opened at $7.40 on Thursday. BlackRock Innovation and Growth Term Trust has a 12-month low of $6.21 and a 12-month high of $8.35. The business’s 50 day moving average is $7.34 and its 200-day moving average is $7.56.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be given a dividend of $0.0885 per share. This represents a $1.06 annualized dividend and a yield of 14.34%. The ex-dividend date of this dividend is Monday, July 15th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC raised its holdings in shares of BlackRock Innovation and Growth Term Trust by 21.8% in the 3rd quarter. Lazard Asset Management LLC now owns 2,581,925 shares of the company’s stock valued at $17,970,000 after purchasing an additional 462,842 shares during the period. Raymond James & Associates increased its position in BlackRock Innovation and Growth Term Trust by 0.9% during the first quarter. Raymond James & Associates now owns 1,857,646 shares of the company’s stock worth $15,121,000 after buying an additional 16,989 shares during the last quarter. Karpus Management Inc. raised its stake in BlackRock Innovation and Growth Term Trust by 24.2% in the first quarter. Karpus Management Inc. now owns 1,495,480 shares of the company’s stock valued at $12,173,000 after buying an additional 291,622 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in shares of BlackRock Innovation and Growth Term Trust by 9.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 1,449,290 shares of the company’s stock valued at $11,797,000 after buying an additional 125,720 shares during the last quarter. Finally, Wolverine Asset Management LLC boosted its stake in shares of BlackRock Innovation and Growth Term Trust by 8,592.9% during the 4th quarter. Wolverine Asset Management LLC now owns 337,545 shares of the company’s stock worth $2,474,000 after acquiring an additional 333,662 shares during the period.

BlackRock Innovation and Growth Term Trust Company 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.