Atria Wealth Solutions Inc. Reduces Holdings in BlackRock Innovation and Growth Term Trust

Atria Wealth Solutions Inc. has made a significant adjustment to its investment strategy by reducing its stake in the BlackRock Innovation and Growth Term Trust (NYSE:BIGZ – Free Report) by 23.1% during the fourth quarter. This decision was disclosed in a recent filing with the Securities and Exchange Commission. After selling 8,700 shares during the quarter, Atria Wealth now holds a total of 29,000 shares of the trust, which were valued at approximately $216,000 at the end of the quarter.

In addition to Atria Wealth's changes, several other institutional investors have also adjusted their positions in BlackRock Innovation and Growth Term Trust. For instance, Captrust Financial Advisors increased its ownership by 4.8% in the third quarter, now possessing 32,800 shares worth $248,000 after acquiring an extra 1,500 shares. Another notable change came from Jane Street Group LLC, which boosted its holdings by 421.8% during the same quarter, resulting in ownership of 61,072 shares valued at $461,000, following the purchase of an additional 49,367 shares.

Furthermore, SeaCrest Wealth Management LLC initiated a new stake in the fourth quarter valued at around $110,000, while International Assets Investment Management LLC invested about $1,690,000 by purchasing new shares in the third quarter. Meanwhile, Rivernorth Capital Management LLC expanded its position in BlackRock Innovation and Growth Term Trust by 108.5% during the third quarter, now holding 1,142,760 shares valued at $8,628,000 after buying an additional 594,776 shares.

Insider Transactions in BlackRock Innovation and Growth Term Trust

On a related note, insider activity has also been noteworthy. Major shareholder Saba Capital Management, L.P. acquired 69,719 shares of BlackRock Innovation and Growth Term Trust on December 26. The shares were purchased at an average price of $7.65 each, amounting to a total transaction value of approximately $533,350.35. Following this transaction, Saba Capital now owns 59,615,955 shares, which are valued at around $456,062,055.75, reflecting a small increase of 0.12% in their ownership. This transaction was also reported through a filing with the Securities and Exchange Commission (SEC).

BlackRock Innovation and Growth Term Trust Stock Performance

On the trading front, shares of BlackRock Innovation and Growth Term Trust opened at $7.11. The company's performance can be gauged by its moving averages, which include a fifty-day average of $7.86 and a two-hundred-day average of $7.69. Over the past year, the stock has reached a low of $6.66 and a high of $8.31, indicating some fluctuation in price.

Dividend Announcement

In terms of dividends, BlackRock Innovation and Growth Term Trust recently announced a monthly dividend. Shareholders of record on February 14 received a dividend of $0.0866, and the ex-dividend date also fell on February 14. This translates to an annualized dividend of $1.04, which provides a yield of 14.61% for investors.

About BlackRock Innovation and Growth Term Trust

BlackRock Innovation and Growth Term Trust is a mutual fund created by BlackRock, Inc., and is managed by BlackRock Advisors, LLC. The fund is based in the United States and aims to provide investors with diversified exposure to growth-oriented investments.

Conclusion

Overall, Atria Wealth Solutions Inc.'s recent reduction in its holdings of BlackRock Innovation and Growth Term Trust reflects broader trends and strategic adjustments by various institutional investors in the market. As the firm's stock performance and dividend yield remain strong, it continues to attract interest from a variety of entities.

Atria, BlackRock, Investment