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

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 213,500 shares, a growth of 7.7% from the October 15th total of 198,200 shares. Based on an average daily volume of 588,900 shares, the short-interest ratio is currently 0.4 days.

BlackRock Innovation and Growth Term Trust Stock Performance

Shares of BIGZ stock opened at $7.55 on Tuesday. The firm has a fifty day simple moving average of $7.57 and a two-hundred day simple moving average of $7.41. BlackRock Innovation and Growth Term Trust has a 12 month low of $6.66 and a 12 month high of $8.25.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.0863 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.04 annualized dividend and a dividend yield of 13.72%.

Insider Transactions at BlackRock Innovation and Growth Term Trust

In related news, major shareholder Saba Capital Management, L.P. acquired 83,524 shares of the stock in a transaction dated Wednesday, August 21st. The stock was bought at an average price of $7.27 per share, for a total transaction of $607,219.48. Following the purchase, the insider now directly owns 54,558,121 shares of the company’s stock, valued at $396,637,539.67. The trade was a 0.15 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have bought 1,549,771 shares of company stock worth $11,707,832.

Institutional Trading of BlackRock Innovation and Growth Term Trust

Institutional investors have recently made changes to their positions in the company. Sessa Capital IM L.P. increased its position in shares of BlackRock Innovation and Growth Term Trust by 15.0% in the second quarter. Sessa Capital IM L.P. now owns 2,739,993 shares of the company’s stock worth $19,810,000 after purchasing an additional 356,372 shares during the last quarter. Penserra Capital Management LLC purchased a new position in BlackRock Innovation and Growth Term Trust during the third quarter valued at $15,076,000. Karpus Management Inc. increased its holdings 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 valued at $12,173,000 after acquiring an additional 291,622 shares in the last quarter. Rivernorth Capital Management LLC increased its holdings in BlackRock Innovation and Growth Term Trust by 101.6% in the 3rd quarter. Rivernorth Capital Management LLC now owns 1,104,819 shares of the company’s stock worth $8,341,000 after buying an additional 556,835 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in shares of BlackRock Innovation and Growth Term Trust during the 2nd quarter valued at about $4,192,000.

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.