Saba Capital Management, L.P. Acquires 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 the company’s stock in a transaction dated Monday, July 1st. The stock was bought at an average price 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 $379,582,080.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

BlackRock Innovation and Growth Term Trust Stock Performance

BIGZ stock opened at $7.40 on Friday. The business has a 50 day simple moving average of $7.34 and a 200-day simple moving average of $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 Dividend Announcement

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

Institutional Investors Weigh In On BlackRock Innovation and Growth Term Trust

Large investors have recently made changes to their positions in the stock. Thompson Investment Management Inc. purchased a new stake in shares of BlackRock Innovation and Growth Term Trust in the first quarter valued at approximately $33,000. Register Financial Advisors LLC purchased a new position in BlackRock Innovation and Growth Term Trust in the first quarter worth approximately $53,000. Kestra Advisory Services LLC grew its position in BlackRock Innovation and Growth Term Trust by 17.4% in the third quarter. Kestra Advisory Services LLC now owns 13,533 shares of the company’s stock worth $94,000 after acquiring an additional 2,005 shares during the period. Skyline Advisors Inc. purchased a new position in BlackRock Innovation and Growth Term Trust in the fourth quarter worth approximately $98,000. Finally, Successful Portfolios LLC purchased a new position in BlackRock Innovation and Growth Term Trust in the fourth quarter worth approximately $108,000.

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.