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NEW YORK—Saba Capital Management, L.P., a prominent investment firm, recently reported a significant acquisition of shares in the BlackRock (NYSE:BLK) Innovation & Growth Term Trust (NYSE:BIGZ). According to a recent SEC filing, Saba Capital purchased 15,801 shares of the trust's common stock on November 26, at a price of $8.01 per share. This transaction amounted to a total value of $126,566. The trust has shown strong performance, with a year-to-date return of over 20% and is currently trading near its 52-week high of $8.25. For more detailed analysis and insights, InvestingPro subscribers have access to additional financial metrics and expert tips.
The transaction was conducted indirectly, as indicated in the filing, and brings Saba Capital's total holdings in BlackRock Innovation & Growth Term Trust to 58,142,692 shares. This move underscores Saba Capital's continued interest and investment in the trust, which focuses on innovation and growth opportunities.
Boaz Weinstein, a notable figure in the financial industry, is associated with Saba Capital Management and was involved in the filing of this transaction. The filing was signed by Zachary Gindes on behalf of Saba Capital and by Boaz Weinstein, marking the firm's strategic investment decision.
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