BlackRock Innovation and Growth Term Trust (NYSE:BIGZ) Shares Up 4% – Still a Buy?

BlackRock Innovation and Growth Term Trust (NYSE:BIGZ)’s stock price traded up 4% during mid-day trading on Friday . The company traded as high as $9.22 and last traded at $9.08. 1,100,807 shares changed hands 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 Price Performance

The company has a 50-day simple moving average of $8.56 and a 200 day simple moving average of $7.32.

Institutional Trading of BlackRock Innovation and Growth Term Trust

A number of hedge funds have recently added to or reduced their stakes in BIGZ. NewEdge Advisors LLC increased its holdings in BlackRock Innovation and Growth Term Trust by 20.3% in the first quarter. NewEdge Advisors LLC now owns 50,280 shares of the company’s stock valued at $405,000 after buying an additional 8,478 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of BlackRock Innovation and Growth Term Trust during the 1st quarter worth about $59,000. Quantinno Capital Management LP acquired a new stake in shares of BlackRock Innovation and Growth Term Trust during the 2nd quarter valued at about $1,072,000. Jane Street Group LLC grew its position in shares of BlackRock Innovation and Growth Term Trust by 13.7% during the 2nd 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 period. Finally, Ameriprise Financial Inc. increased its stake in shares of BlackRock Innovation and Growth Term Trust by 25.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 454,913 shares of the company’s stock valued at $3,339,000 after purchasing an additional 92,726 shares in the last quarter.

About BlackRock Innovation and Growth Term Trust

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.