BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Major Shareholder Saba Capital Management, L.P. Buys 152,676 Shares of Stock

Posted by Adam Dyson on Mar 28th, 2024

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 152,676 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was bought at an average cost of $7.98 per share, for a total transaction of $1,218,354.48. Following the completion of the transaction, the insider now owns 51,571,618 shares in the company, valued at $411,541,511.64. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

On Friday, March 22nd, Saba Capital Management, L.P. acquired 100,000 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.97 per share, with a total value of $797,000.00.
On Wednesday, March 20th, Saba Capital Management, L.P. acquired 241,858 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $7.84 per share, with a total value of $1,896,166.72.
On Thursday, March 7th, Saba Capital Management, L.P. acquired 17,047 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average price of $8.04 per share, with a total value of $137,057.88.
On Thursday, February 29th, Saba Capital Management, L.P. bought 60,078 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average price of $8.01 per share, with a total value of $481,224.78.
On Monday, February 26th, Saba Capital Management, L.P. acquired 273,686 shares of BlackRock Innovation and Growth Term Trust stock. The stock was bought at an average price of $8.11 per share, with a total value of $2,219,593.46.
On Thursday, February 22nd, Saba Capital Management, L.P. bought 178,566 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $8.03 per share, with a total value of $1,433,884.98.
On Tuesday, February 20th, Saba Capital Management, L.P. purchased 56,252 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average cost of $7.91 per share, with a total value of $444,953.32.
On Thursday, February 15th, Saba Capital Management, L.P. acquired 486,478 shares of BlackRock Innovation and Growth Term Trust stock. The stock was purchased at an average cost of $8.07 per share, for a total transaction of $3,925,877.46.
On Monday, February 12th, Saba Capital Management, L.P. bought 432,560 shares of BlackRock Innovation and Growth Term Trust stock. The shares were bought at an average cost of $8.23 per share, for a total transaction of $3,559,968.80.
On Friday, February 9th, Saba Capital Management, L.P. acquired 222,038 shares of BlackRock Innovation and Growth Term Trust stock. The shares were acquired at an average price of $8.13 per share, for a total transaction of $1,805,168.94.

BlackRock Innovation and Growth Term Trust Stock Performance

Shares of BIGZ opened at $8.09 on Thursday. BlackRock Innovation and Growth Term Trust has a twelve month low of $6.21 and a twelve month high of $8.35. The company has a 50 day moving average of $7.88 and a two-hundred day moving average of $7.34.

BlackRock Innovation and Growth Term Trust Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, March 15th will be issued a dividend of $0.0445 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.53 annualized dividend and a dividend yield of 6.60%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIGZ. Saba Capital Management L.P. boosted its position in BlackRock Innovation and Growth Term Trust by 32.0% during the third quarter. Saba Capital Management L.P. now owns 23,233,954 shares of the company’s stock worth $161,708,000 after acquiring an additional 5,626,581 shares during the last quarter. UBS Group AG raised its holdings in shares of BlackRock Innovation and Growth Term Trust by 75.6% in the 1st quarter. UBS Group AG now owns 3,898,263 shares of the company’s stock valued at $44,401,000 after purchasing an additional 1,677,919 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of BlackRock Innovation and Growth Term Trust by 5.6% in the 1st quarter. Bank of America Corp DE now owns 2,696,212 shares of the company’s stock valued at $21,651,000 after purchasing an additional 142,582 shares in the last quarter. Lazard Asset Management LLC grew its position 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 buying an additional 462,842 shares during the last quarter. Finally, Royal Bank of Canada grew its position in shares of BlackRock Innovation and Growth Term Trust by 19.1% in the 4th quarter. Royal Bank of Canada now owns 1,755,284 shares of the company’s stock valued at $12,866,000 after buying an additional 281,469 shares during the last quarter.

BlackRock Innovation and Growth Term Trust Company Profile

(Get Free Report)

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.