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

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totalling 245,200 shares, an increase of 120.9% from the December 31st total of 111,000 shares. Based on an average trading volume of 764,400 shares, the short-interest ratio is presently 0.3 days.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. acquired 185,716 shares of BlackRock Innovation and Growth Term Trust stock in a transaction dated Wednesday, December 4th. The stock was acquired at an average cost of $8.07 per share, with a total value of $1,498,728.12. Following the purchase, the insider now directly owns 58,448,770 shares in the company, valued at $471,681,573.90. The trade was a 0.32 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 2,325,961 shares of company stock valued at $18,127,612 over the last three months.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. SeaCrest Wealth Management LLC purchased a new stake in shares of BlackRock Innovation and Growth Term Trust in the 4th quarter valued at approximately $110,000. International Assets Investment Management LLC purchased a new stake in shares of BlackRock Innovation and Growth Term Trust in the third quarter valued at $1,690,000. Virtu Financial LLC purchased a new stake in shares of BlackRock Innovation and Growth Term Trust in the third quarter valued at $191,000. Garden State Investment Advisory Services LLC acquired a new stake in shares of BlackRock Innovation and Growth Term Trust in the third quarter worth $245,000. Finally, Captrust Financial Advisors grew its holdings in shares of BlackRock Innovation and Growth Term Trust by 4.8% during the third quarter. Captrust Financial Advisors now owns 32,800 shares of the company’s stock valued at $248,000 after buying an additional 1,500 shares in the last quarter.

BlackRock Innovation and Growth Term Trust Trading Down 0.9 %

Shares of NYSE BIGZ traded down $0.07 during mid-day trading on Friday, hitting $8.15. 696,918 shares of the company traded hands, compared to its average volume of 829,246. BlackRock Innovation and Growth Term Trust has a 1 year low of $6.66 and a 1 year high of $8.31. The business has a 50 day moving average of $7.82 and a two-hundred day moving average of $7.58.

BlackRock Innovation and Growth Term Trust Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were issued a $0.0868 dividend. This represents a $1.04 annualized dividend and a dividend yield of 12.78%. The ex-dividend date was Wednesday, January 15th.

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.