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

Posted by Doug Wharley 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 shares were purchased at an average cost of $7.98 per share, for a total transaction of $1,218,354.48. Following the transaction, the insider now directly owns 51,571,618 shares in the company, valued at $411,541,511.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% 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. purchased 100,000 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.97 per share, for a total transaction of $797,000.00.
On Wednesday, March 20th, Saba Capital Management, L.P. purchased 241,858 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $7.84 per share, for a total transaction of $1,896,166.72.
On Thursday, March 7th, Saba Capital Management, L.P. purchased 17,047 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $8.04 per share, for a total transaction of $137,057.88.
On Thursday, February 29th, Saba Capital Management, L.P. purchased 60,078 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average cost of $8.01 per share, for a total transaction of $481,224.78.
On Monday, February 26th, Saba Capital Management, L.P. bought 273,686 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $8.11 per share, for a total transaction 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 acquired at an average price of $8.03 per share, for a total transaction of $1,433,884.98.
On Tuesday, February 20th, Saba Capital Management, L.P. bought 56,252 shares of BlackRock Innovation and Growth Term Trust stock. The stock was acquired at an average price of $7.91 per share, for a total transaction 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 shares were purchased at an average price of $8.07 per share, for a total transaction of $3,925,877.46.
On Monday, February 12th, Saba Capital Management, L.P. acquired 432,560 shares of BlackRock Innovation and Growth Term Trust stock. The shares were purchased at an average price 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 purchased 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 stock opened at $8.09 on Thursday. BlackRock Innovation and Growth Term Trust has a 1-year low of $6.21 and a 1-year high of $8.35. The business has a 50-day moving average of $7.88 and a 200 day moving average of $7.34.

BlackRock Innovation and Growth Term Trust Cuts Dividend

The business 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. This represents a $0.53 annualized dividend and a yield of 6.60%. The ex-dividend date is Thursday, March 14th.

Institutional Investors Weigh In On BlackRock Innovation and Growth Term Trust

Several institutional investors have recently bought and sold shares of BIGZ. Saba Capital Management L.P. lifted its holdings in BlackRock Innovation and Growth Term Trust by 32.0% in the 3rd quarter. Saba Capital Management L.P. now owns 23,233,954 shares of the company’s stock worth $161,708,000 after buying an additional 5,626,581 shares during the period. UBS Group AG lifted its holdings in 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 worth $44,401,000 after buying an additional 1,677,919 shares during the period. Bank of America Corp DE lifted its holdings in 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 worth $21,651,000 after buying an additional 142,582 shares during the period. Lazard Asset Management LLC lifted its holdings in 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 worth $17,970,000 after buying an additional 462,842 shares during the period. Finally, Royal Bank of Canada lifted its holdings in 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 worth $12,866,000 after buying an additional 281,469 shares during the period.

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.