BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Trading 4% Higher – Time to Buy?

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) was up 4% during trading on Friday . The stock traded as high as $9.22 and last traded at $9.08. Approximately 1,100,807 shares were traded during mid-day trading, an increase of 57% from the average daily volume of 702,427 shares. The stock had previously closed at $8.73.

BlackRock Innovation and Growth Term Trust Trading Up 4.0%

The stock’s 50-day simple moving average is $8.56 and its two-hundred day simple moving average is $7.32.

Institutional Trading of BlackRock Innovation and Growth Term Trust

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC raised its position in shares of BlackRock Innovation and Growth Term Trust by 16.5% during the 2nd quarter. Lazard Asset Management LLC now owns 2,871,719 shares of the company’s stock worth $21,078,000 after purchasing an additional 406,287 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in BlackRock Innovation and Growth Term Trust during the 2nd quarter worth approximately $1,594,000. Ameriprise Financial Inc. increased its stake in BlackRock Innovation and Growth Term Trust by 25.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 454,913 shares of the company’s stock worth $3,339,000 after buying an additional 92,726 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of BlackRock Innovation and Growth Term Trust by 13.7% during the second quarter. Jane Street Group LLC now owns 86,506 shares of the company’s stock valued at $635,000 after acquiring an additional 10,397 shares during the last quarter. Finally, Quantinno Capital Management LP purchased a new position in shares of BlackRock Innovation and Growth Term Trust in the second quarter valued at approximately $1,072,000.

BlackRock Innovation and Growth Term Trust Company Profile

BlackRock Innovation and Growth Term Trust (NYSE: BIGZ) is a closed-end management investment company sponsored by BlackRock Fund Advisors. Launched in May 2020, the trust is structured with a predetermined termination date and trades on the New York Stock Exchange. As a term trust, BIGZ offers investors exposure to a diversified portfolio of growth-oriented equity and equity-related securities, with the goal of delivering long-term capital appreciation.

The trust pursues its investment objective by focusing on companies that are positioned to benefit from innovation, technological advancements and structural shifts across multiple industries.