BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Saba Capital Management, L.P. Buys 49,417 Shares

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) major shareholder Saba Capital Management, L.P. purchased 49,417 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was bought at an average cost of $7.33 per share, for a total transaction of $362,226.61. Following the purchase, the insider now owns 53,031,572 shares in the company, valued at $388,721,422.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 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 Monday, July 8th, Saba Capital Management, L.P. bought 200,706 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.40 per share, for a total transaction of $1,485,224.40.
• On Friday, July 5th, Saba Capital Management, L.P. purchased 42,236 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.38 per share, with a total value of $311,701.68.
• On Monday, July 1st, Saba Capital Management, L.P. acquired 252,855 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.25 per share, with a total value of $1,833,198.75.

BlackRock Innovation and Growth Term Trust Stock Up 0.5 %

BlackRock Innovation and Growth Term Trust stock opened at $7.38 on Friday. The stock has a 50-day simple moving average of $7.36 and a 200 day simple moving average of $7.55. BlackRock Innovation and Growth Term Trust has a 12-month low of $6.21 and a 12-month high of $8.35.

BlackRock Innovation and Growth Term Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be paid a $0.0885 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 14.38%. The ex-dividend date of this dividend is Monday, July 15th.

Institutional Trading of BlackRock Innovation and Growth Term Trust

Several hedge funds have recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. lifted its holdings in BlackRock Innovation and Growth Term Trust by 14.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 38,560 shares of the company’s stock worth $314,000 after buying an additional 4,810 shares in the last quarter. Prudent Investors Network Inc. acquired a new stake in shares of BlackRock Innovation and Growth Term Trust in the 1st quarter valued at $174,000. Karpus Management Inc. raised its position in shares of BlackRock Innovation and Growth Term Trust by 24.2% during the first quarter. Karpus Management Inc. now owns 1,495,480 shares of the company’s stock worth $12,173,000 after acquiring an additional 291,622 shares during the last quarter. Whittier Trust Co. acquired a new position in shares of BlackRock Innovation and Growth Term Trust during the first quarter valued at $122,000. Finally, Janney Montgomery Scott LLC boosted its holdings in BlackRock Innovation and Growth Term Trust by 9.8% in the first quarter. Janney Montgomery Scott LLC now owns 69,186 shares of the company’s stock valued at $563,000 after acquiring an additional 6,202 shares during 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.