BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Sees Large Decline in Short Interest

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) saw a large decline in short interest in the month of June. As of June 15th, there was short interest totalling 73,300 shares, a decline of 33.9% from the May 31st total of 110,900 shares. Based on an average trading volume of 657,500 shares, the days-to-cover ratio is currently 0.1 days.

Insider Activity at BlackRock Innovation and Growth Term Trust

In related news, major shareholder Saba Capital Management, L.P. acquired 139,326 shares of the business’s stock in a transaction on Monday, April 1st. The stock was acquired at an average cost of $8.10 per share, with a total value of $1,128,540.60. Following the acquisition, the insider now directly owns 52,103,294 shares in the company, valued at approximately $422,036,681.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Investors Weigh In On BlackRock Innovation and Growth Term Trust

Hedge funds have recently modified their holdings of the business. Lazard Asset Management LLC lifted its holdings in BlackRock Innovation and Growth Term Trust by 21.8% in the third quarter. Lazard Asset Management LLC now owns 2,581,925 shares of the company’s stock valued at $17,970,000 after acquiring an additional 462,842 shares during the last quarter. Raymond James & Associates lifted its position in BlackRock Innovation and Growth Term Trust by 0.9% in the first quarter. Raymond James & Associates now owns 1,857,646 shares of the company’s stock valued at $15,121,000 after buying an additional 16,989 shares during the last quarter. Karpus Management Inc. boosted its stake in 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 buying an additional 291,622 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in BlackRock Innovation and Growth Term Trust by 9.5% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 1,449,290 shares of the company’s stock valued at $11,797,000 after purchasing an additional 125,720 shares during the last quarter. Finally, 1607 Capital Partners LLC grew its stake in shares of BlackRock Innovation and Growth Term Trust by 0.7% in the third quarter. 1607 Capital Partners LLC now owns 775,844 shares of the company’s stock valued at $5,400,000 after buying an additional 5,500 shares in the last quarter.

BlackRock Innovation and Growth Term Trust Trading Up 0.1 %

NYSE:BIGZ traded up $0.01 during trading hours on Friday, reaching $7.23. The company had a trading volume of 821,283 shares, compared to its average volume of 708,599. The business’s 50 day moving average price is $7.33 and its 200-day moving average price is $7.56. BlackRock Innovation and Growth Term Trust has a 1-year low of $6.21 and a 1-year high of $8.35.

BlackRock Innovation and Growth Term Trust Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.0889 dividend. This is an increase from BlackRock Innovation and Growth Term Trust’s previous monthly dividend of $0.04. This represents a $1.07 annualized dividend and a yield of 14.75%. The ex-dividend date was Friday, June 14th.

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.