Blackrock Innovation & Growth Trust Key Executives
This section highlights Blackrock Innovation & Growth Trust's key executives, including their titles and compensation details.
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Blackrock Innovation & Growth Trust Earnings
This section highlights Blackrock Innovation & Growth Trust's earnings, including key dates, EPS, earnings reports, and earnings call transcripts.
Next Earnings Date
Last Earnings Results
Earnings Call Transcripts
| Transcript | Quarter | Year | Date | Estimated EPS | Actual EPS |
|---|
Financial Statements
Access annual & quarterly financial statements for Blackrock Innovation & Growth Trust, including income statements, balance sheets, and cash flow statements..
Annual Income Statement
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 |
|---|---|---|---|---|
| Revenue | $40.69M | $215.58M | $-1.65B | $-639.70M |
| Cost of Revenue | $- | $- | $- | $- |
| Gross Profit | $40.69M | $215.58M | $-1.65B | $-639.70M |
| Gross Profit Ratio | 100.00% | 100.00% | 100.00% | 100.00% |
| Research and Development Expenses | $- | $- | $- | $- |
| General and Administrative Expenses | $4.41M | $3.80M | $2.61M | $1.18M |
| Selling and Marketing Expenses | $- | $- | $- | $- |
| Selling General and Administrative Expenses | $4.41M | $3.80M | $2.61M | $1.18M |
| Other Expenses | $576.29K | $211.78M | $- | $- |
| Operating Expenses | $4.99M | $215.58M | $2.80M | $948.69K |
| Cost and Expenses | $4.99M | $215.58M | $2.80M | $948.69K |
| Interest Income | $- | $- | $- | $- |
| Interest Expense | $15.44K | $1.50K | $- | $- |
| Depreciation and Amortization | $- | $167.90K | $228.49K | $236.56K |
| EBITDA | $- | $423.31M | $- | $- |
| EBITDA Ratio | 0.00% | 196.35% | 0.00% | 0.00% |
| Operating Income | $35.71M | $211.57M | $-1.66B | $-640.65M |
| Operating Income Ratio | 87.75% | 98.14% | 100.17% | 100.15% |
| Total Other Income Expenses Net | $- | $- | $- | $- |
| Income Before Tax | $35.71M | $211.57M | $-1.66B | $-640.65M |
| Income Before Tax Ratio | 87.75% | 98.14% | 100.17% | 100.15% |
| Income Tax Expense | $- | $- | $-228.49K | $-236.56K |
| Net Income | $35.71M | $211.57M | $-1.66B | $-640.65M |
| Net Income Ratio | 87.75% | 98.14% | 100.17% | 100.15% |
| EPS | $0.15 | $0.88 | $-6.91 | $-2.58 |
| EPS Diluted | $0.15 | $0.88 | $-6.91 | $-2.58 |
| Weighted Average Shares Outstanding | 239.70M | 239.70M | 239.70M | 248.31M |
| Weighted Average Shares Outstanding Diluted | 239.70M | 239.70M | 239.70M | 248.31M |
| SEC Filing | Source | Source | Source | Source |
| Breakdown |
|---|
| Revenue |
| Cost of Revenue |
| Gross Profit |
| Gross Profit Ratio |
| Research and Development Expenses |
| General and Administrative Expenses |
| Selling and Marketing Expenses |
| Selling General and Administrative Expenses |
| Other Expenses |
| Operating Expenses |
| Cost and Expenses |
| Interest Income |
| Interest Expense |
| Depreciation and Amortization |
| EBITDA |
| EBITDA Ratio |
| Operating Income |
| Operating Income Ratio |
| Total Other Income Expenses Net |
| Income Before Tax |
| Income Before Tax Ratio |
| Income Tax Expense |
| Net Income |
| Net Income Ratio |
| EPS |
| EPS Diluted |
| Weighted Average Shares Outstanding |
| Weighted Average Shares Outstanding Diluted |
| SEC Filing |
Annual Balance Sheet
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 |
|---|---|---|---|---|
| Cash and Cash Equivalents | $- | $367 | $335 | $1.10K |
| Short Term Investments | $- | $- | $- | $- |
| Cash and Short Term Investments | $- | $367 | $335 | $1.10K |
| Net Receivables | $66.69K | $332.88K | $4.18M | $6.39M |
| Inventory | $- | $349.50K | $- | $- |
| Other Current Assets | $-66.69K | $-349.50K | $- | $89.82K |
| Total Current Assets | $- | $333.24K | $4.18M | $6.39M |
| Property Plant Equipment Net | $- | $- | $- | $- |
| Goodwill | $- | $- | $- | $- |
| Intangible Assets | $- | $- | $- | $- |
| Goodwill and Intangible Assets | $- | $- | $- | $- |
| Long Term Investments | $1.81B | $2.07B | $2.05B | $4.01B |
| Tax Assets | $- | $- | $- | $- |
| Other Non-Current Assets | $-1.81B | $-2.07B | $-2.05B | $-4.01B |
| Total Non-Current Assets | $- | $2.07B | $2.05B | $4.01B |
| Other Assets | $1.81B | $16.62K | $- | $119.82K |
| Total Assets | $1.81B | $2.07B | $2.06B | $4.02B |
| Account Payables | $- | $- | $17.72M | $4.31M |
| Short Term Debt | $- | $- | $- | $- |
| Tax Payables | $- | $- | $- | $- |
| Deferred Revenue | $- | $- | $- | $- |
| Other Current Liabilities | $- | $- | $- | $- |
| Total Current Liabilities | $- | $- | $17.72M | $4.31M |
| Long Term Debt | $- | $- | $- | $- |
| Deferred Revenue Non-Current | $- | $- | $- | $- |
| Deferred Tax Liabilities Non-Current | $- | $- | $- | $- |
| Other Non-Current Liabilities | $- | $- | $- | $- |
| Total Non-Current Liabilities | $- | $- | $- | $139.78K |
| Other Liabilities | $23.60M | $40.69M | $- | $33.09M |
| Total Liabilities | $23.60M | $40.69M | $17.72M | $37.54M |
| Preferred Stock | $- | $- | $- | $- |
| Common Stock | $3.72B | $4.02B | $4.25B | $4.59B |
| Retained Earnings | $-1.94B | $-2.00B | $-2.22B | $-605.36M |
| Accumulated Other Comprehensive Income Loss | $- | $- | $- | $- |
| Other Total Stockholders Equity | $- | $- | $- | $- |
| Total Stockholders Equity | $1.78B | $2.03B | $2.03B | $3.98B |
| Total Equity | $1.78B | $2.03B | $2.03B | $3.98B |
| Total Liabilities and Stockholders Equity | $1.81B | $2.07B | $2.06B | $4.02B |
| Minority Interest | $- | $- | $- | $- |
| Total Liabilities and Total Equity | $1.81B | $2.07B | $2.06B | $4.02B |
| Total Investments | $1.81B | $2.07B | $2.05B | $4.01B |
| Total Debt | $- | $- | $- | $139.78K |
| Net Debt | $- | $-367 | $-335 | $138.68K |
Balance Sheet Charts
| Breakdown | December 31, 2024 | June 30, 2024 | December 31, 2023 | June 30, 2023 | December 31, 2022 | June 30, 2022 | December 31, 2021 | June 30, 2021 |
|---|---|---|---|---|---|---|---|---|
| Cash and Cash Equivalents | $- | $55.91K | $367 | $44.73K | $335 | $- | $- | $- |
| Short Term Investments | $- | $- | $- | $- | $- | $- | $- | $- |
| Cash and Short Term Investments | $- | $55.91K | $367 | $44.73K | $335 | $- | $- | $- |
| Net Receivables | $66.69K | $1.12M | $332.88K | $352.62K | $4.18M | $1.47M | $6.39M | $7.18M |
| Inventory | $- | $- | $349.50K | $- | $- | $- | $- | $- |
| Other Current Assets | $-66.69K | $-1.12M | $-349.50K | $- | $- | $- | $89.82K | $- |
| Total Current Assets | $- | $55.91K | $333.24K | $397.35K | $4.18M | $1.47M | $6.39M | $7.18M |
| Property Plant Equipment Net | $- | $- | $- | $- | $- | $- | $- | $- |
| Goodwill | $- | $- | $- | $- | $- | $- | $- | $- |
| Intangible Assets | $- | $- | $- | $- | $- | $- | $- | $- |
| Goodwill and Intangible Assets | $- | $- | $- | $- | $- | $- | $- | $- |
| Long Term Investments | $1.81B | $1.94B | $2.07B | $2.19B | $2.05B | $481.07M | $4.01B | $4.89B |
| Tax Assets | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Non-Current Assets | $-1.81B | $-1.94B | $-2.07B | $-2.19B | $-2.05B | $-481.07M | $-4.01B | $-4.89B |
| Total Non-Current Assets | $- | $1.94B | $2.07B | $2.19B | $2.05B | $481.07M | $4.01B | $4.89B |
| Other Assets | $1.81B | $1.94B | $16.62K | $- | $- | $704.50K | $119.82K | $1.05M |
| Total Assets | $1.81B | $1.94B | $2.07B | $2.19B | $2.06B | $483.25M | $4.02B | $4.90B |
| Account Payables | $- | $2.29M | $- | $13.85M | $17.72M | $115 | $4.31M | $4.35M |
| Short Term Debt | $- | $- | $- | $- | $- | $- | $- | $- |
| Tax Payables | $- | $- | $- | $- | $- | $- | $- | $- |
| Deferred Revenue | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Current Liabilities | $- | $-2.29M | $- | $- | $- | $- | $- | $- |
| Total Current Liabilities | $- | $- | $- | $13.85M | $17.72M | $115 | $4.31M | $4.35M |
| Long Term Debt | $- | $- | $- | $- | $- | $- | $- | $- |
| Deferred Revenue Non-Current | $- | $- | $- | $- | $- | $- | $- | $- |
| Deferred Tax Liabilities Non-Current | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Non-Current Liabilities | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Non-Current Liabilities | $- | $- | $- | $- | $- | $53.59K | $139.78K | $868.09K |
| Other Liabilities | $23.60M | $38.79M | $40.69M | $- | $- | $4.55M | $33.09M | $79.33M |
| Total Liabilities | $23.60M | $38.79M | $40.69M | $13.85M | $17.72M | $4.61M | $37.54M | $84.55M |
| Preferred Stock | $- | $- | $- | $- | $- | $- | $- | $- |
| Common Stock | $3.72B | $4.02B | $4.02B | $4.23B | $4.25B | $392.61M | $4.59B | $4.87B |
| Retained Earnings | $-1.94B | $-2.12B | $-2.00B | $-2.10B | $-2.22B | $86.04M | $-605.36M | $-55.49M |
| Accumulated Other Comprehensive Income Loss | $- | $- | $- | $- | $- | $- | $- | $- |
| Other Total Stockholders Equity | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Stockholders Equity | $1.78B | $1.90B | $2.03B | $2.13B | $2.03B | $478.64M | $3.98B | $4.81B |
| Total Equity | $1.78B | $1.90B | $2.03B | $2.13B | $2.03B | $478.64M | $3.98B | $4.81B |
| Total Liabilities and Stockholders Equity | $1.81B | $1.94B | $2.07B | $2.19B | $2.06B | $483.25M | $4.02B | $4.90B |
| Minority Interest | $- | $- | $- | $- | $- | $- | $- | $- |
| Total Liabilities and Total Equity | $1.81B | $1.94B | $2.07B | $2.19B | $2.06B | $483.25M | $4.02B | $4.90B |
| Total Investments | $1.81B | $1.94B | $2.07B | $2.19B | $2.05B | $481.07M | $4.01B | $4.89B |
| Total Debt | $- | $- | $- | $- | $- | $53.59K | $139.78K | $868.09K |
| Net Debt | $- | $-55.91K | $-367 | $-44.73K | $-335 | $53.59K | $139.78K | $868.09K |
Annual Cash Flow
| Breakdown | December 31, 2024 | December 31, 2023 | December 31, 2022 | December 31, 2021 |
|---|---|---|---|---|
| Net Income | $35.71M | $211.57M | $-1.66B | $-640.65M |
| Depreciation and Amortization | $- | $- | $- | $- |
| Deferred Income Tax | $- | $- | $- | $- |
| Stock Based Compensation | $- | $- | $- | $- |
| Change in Working Capital | $-6.06M | $20.37M | $-6.34M | $9.34M |
| Accounts Receivables | $266.19K | $-99.73K | $- | $- |
| Inventory | $- | $- | $- | $- |
| Accounts Payables | $- | $- | $- | $- |
| Other Working Capital | $-6.33M | $20.47M | $- | $- |
| Other Non Cash Items | $247.57M | $-15.36M | $1.97B | $-4.01B |
| Net Cash Provided by Operating Activities | $277.21M | $216.57M | $310.48M | $-4.64B |
| Investments in Property Plant and Equipment | $- | $- | $- | $- |
| Acquisitions Net | $- | $- | $- | $- |
| Purchases of Investments | $- | $- | $- | $- |
| Sales Maturities of Investments | $- | $- | $- | $- |
| Other Investing Activities | $- | $- | $- | $- |
| Net Cash Used for Investing Activities | $- | $- | $- | $- |
| Debt Repayment | $- | $- | $-139.78K | $139.78K |
| Common Stock Issued | $- | $- | $- | $4.86B |
| Common Stock Repurchased | $-92.49M | $-40.46M | $-74.53M | $-61.87M |
| Dividends Paid | $-184.73M | $-176.11M | $-235.85M | $-161.27M |
| Other Financing Activities | $- | $- | $- | $- |
| Net Cash Used Provided by Financing Activities | $-277.21M | $-216.57M | $-310.51M | $4.64B |
| Effect of Forex Changes on Cash | $-2 | $10 | $-15 | $7 |
| Net Change in Cash | $-367 | $32 | $-30.77K | $-68.90K |
| Cash at End of Period | $- | $367 | $335 | $31.10K |
| Cash at Beginning of Period | $367 | $335 | $31.10K | $100.00K |
| Operating Cash Flow | $277.21M | $216.57M | $310.48M | $-4.64B |
| Capital Expenditure | $- | $- | $- | $- |
| Free Cash Flow | $277.21M | $216.57M | $310.48M | $-4.64B |
Cash Flow Charts
| Breakdown |
|---|
| Net Income |
| Depreciation and Amortization |
| Deferred Income Tax |
| Stock Based Compensation |
| Change in Working Capital |
| Accounts Receivables |
| Inventory |
| Accounts Payables |
| Other Working Capital |
| Other Non Cash Items |
| Net Cash Provided by Operating Activities |
| Investments in Property Plant and Equipment |
| Acquisitions Net |
| Purchases of Investments |
| Sales Maturities of Investments |
| Other Investing Activities |
| Net Cash Used for Investing Activities |
| Debt Repayment |
| Common Stock Issued |
| Common Stock Repurchased |
| Dividends Paid |
| Other Financing Activities |
| Net Cash Used Provided by Financing Activities |
| Effect of Forex Changes on Cash |
| Net Change in Cash |
| Cash at End of Period |
| Cash at Beginning of Period |
| Operating Cash Flow |
| Capital Expenditure |
| Free Cash Flow |
Blackrock Innovation & Growth Trust (BIGZ)
Blackrock Innovation & Growth Trust is a mutual fund launched by BlackRock, Inc. and managed by BlackRock Advisors, LLC. Blackrock Innovation & Growth Trust is based in United States.
$8.06
Stock Price
$1.72B
Market Cap
-
Employees
New York, NY
Location
Revenue (FY )
$-
-81.1% YoY
Net Income (FY )
$-
-83.1% YoY
EPS (FY )
$
-83.0% YoY
Free Cash Flow (FY )
$-
28.0% YoY
Profitability
Gross Margin
100.0%
Net Margin
87.7%
ROE
2.0%
ROA
2.0%
Valuation
P/E Ratio
44.98
P/S Ratio
39.47
EV/EBITDA
0.00
Market Cap
$1.72B
Revenue & Net Income
Profit Margins
Cash Flow Summary
Operating Cash Flow
$-
28.0% YoY
Free Cash Flow
$-
28.0% YoY
Balance Sheet Summary
Total Assets
$-
-12.5% YoY
Total Debt
$-
0.0% YoY
Shareholder Equity
$-
-11.9% YoY
Dividend Overview
$0.08
Latest Dividend
%
Dividend Yield
%
Payout Ratio
Recent Dividend History
| Date | Amount | Type |
|---|---|---|
| 2025-04-15 | $0.08 | April 15, 25 |
| 2025-03-14 | $0.09 | March 14, 25 |
| 2025-02-14 | $0.09 | February 14, 25 |
| 2025-01-15 | $0.09 | January 15, 25 |
| 2024-12-16 | $0.09 | December 16, 24 |
| 2024-11-15 | $0.09 | November 15, 24 |
| 2024-10-15 | $0.09 | October 15, 24 |
| 2024-09-16 | $0.09 | September 16, 24 |
| 2024-08-15 | $0.09 | August 15, 24 |
| 2024-07-15 | $0.09 | July 15, 24 |
Blackrock Innovation & Growth Trust Dividends
Explore Blackrock Innovation & Growth Trust's dividend history, including dividend yield, payout ratio, and historical payments.
Dividend Yield
11.50%
Dividend Payout Ratio
517.36%
Dividend Paid & Capex Coverage Ratio
1.50x
Blackrock Innovation & Growth Trust Dividend History
| Dividend | Adjusted Dividend | Date | Record Date | Payment Date | Declaration Date |
|---|---|---|---|---|---|
| $0.08447 | $0.08447 | April 15, 2025 | |||
| $0.08615 | $0.08615 | March 14, 2025 | |||
| $0.08657 | $0.08657 | February 14, 2025 | February 14, 2025 | February 28, 2025 | February 03, 2025 |
| $0.08681 | $0.08681 | January 15, 2025 | January 15, 2025 | January 31, 2025 | January 02, 2025 |
| $0.08676 | $0.08676 | December 16, 2024 | December 16, 2024 | December 23, 2024 | December 06, 2024 |
| $0.08633 | $0.08633 | November 15, 2024 | November 15, 2024 | November 29, 2024 | November 01, 2024 |
| $0.08644 | $0.08644 | October 15, 2024 | October 15, 2024 | October 31, 2024 | September 12, 2024 |
| $0.08665 | $0.08665 | September 16, 2024 | September 16, 2024 | September 30, 2024 | September 03, 2024 |
| $0.08763 | $0.08763 | August 15, 2024 | August 15, 2024 | August 30, 2024 | August 01, 2024 |
| $0.08846 | $0.08846 | July 15, 2024 | July 15, 2024 | July 31, 2024 | July 01, 2024 |
| $0.08887 | $0.08887 | June 14, 2024 | June 14, 2024 | June 28, 2024 | May 20, 2024 |
| $0.04444 | $0.04444 | May 14, 2024 | May 15, 2024 | May 31, 2024 | May 01, 2024 |
| $0.04448 | $0.04448 | April 12, 2024 | April 15, 2024 | April 30, 2024 | April 01, 2024 |
| $0.04446 | $0.04446 | March 14, 2024 | March 15, 2024 | March 28, 2024 | March 01, 2024 |
| $0.04466 | $0.04466 | February 14, 2024 | February 15, 2024 | February 29, 2024 | February 01, 2024 |
| $0.04472 | $0.04472 | January 11, 2024 | January 12, 2024 | January 31, 2024 | January 02, 2024 |
| $0.04487 | $0.04487 | December 14, 2023 | December 15, 2023 | December 20, 2023 | December 05, 2023 |
| $0.04532 | $0.04532 | November 14, 2023 | November 15, 2023 | November 30, 2023 | November 01, 2023 |
| $0.04558 | $0.04558 | October 13, 2023 | October 16, 2023 | October 31, 2023 | October 02, 2023 |
| $0.07 | $0.07 | September 14, 2023 | September 15, 2023 | September 29, 2023 | September 01, 2023 |
Blackrock Innovation & Growth Trust News
Read the latest news about Blackrock Innovation & Growth Trust, including recent articles, headlines, and updates.
CEF Weekly Review: Explaining Preferred CEFs Double-Digit Gains
We review the CEF market valuation and performance through the first week of February and highlight recent market action. CEFs had a strong week, with most sectors in the green, driven by EM Equity and Muni sectors, and year-to-date gains in both NAVs and discounts. We take a look at why preferred CEFs have sharply outperformed their ETF counterparts last year.
BIGZ: Unfavorable Conditions But Could Be Time To Accumulate
BlackRock Innovation and Growth Term Trust focuses on total returns with an emphasis on income, targeting small-cap and mid-cap innovative companies. Since its 2021 inception, BIGZ's price has dropped nearly 60%, with a total return of negative 40.5%. However, we may be approaching an ideal time for accumulation. BIGZ's high yield may appeal to income investors but raises concerns about sustainability in a high-interest rate environment, negatively affecting NAV.
Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions
NEW YORK--(BUSINESS WIRE)---- $BBN--Today, BlackRock Resources & Commodities Strategy Trust (NYSE: BCX), BlackRock Enhanced Equity Dividend Trust (NYSE: BDJ), BlackRock Energy and Resources Trust (NYSE: BGR), BlackRock Enhanced International Dividend Trust (NYSE: BGY), BlackRock Health Sciences Trust (NYSE: BME), BlackRock Health Sciences Term Trust (NYSE: BMEZ), BlackRock Enhanced Global Dividend Trust (NYSE: BOE), BlackRock Utilities, Infrastructure & Power Opportunities Trust (NYSE: BUI), Bla.
BlackRock Announces Changes to BlackRock Innovation and Growth Term Trust (BIGZ)
NEW YORK--(BUSINESS WIRE)---- $BIGZ--BlackRock Advisors, LLC announced today that the Board of Trustees of BlackRock Innovation and Growth Term Trust (NYSE: BIGZ) (the “Trust”) has approved certain changes to the Trust's investment policies (collectively, the “Strategy Changes”). As part of the Strategy Changes, the Trust will (i) adopt a new non-fundamental investment policy to invest, under normal market conditions, at least 80% of its total assets in a combination of equity securities issued by U.S. a.
BlackRock Announces Board Approval of New Tender Offers for BlackRock Innovation and Growth Term Trust (BIGZ) and BlackRock Health Sciences Term Trust (BMEZ)
NEW YORK--(BUSINESS WIRE)---- $BIGZ--BlackRock Advisors, LLC (“BlackRock”) announced today that the Board of Trustees of BlackRock Innovation and Growth Term Trust (NYSE: BIGZ) has approved a tender offer to repurchase 50% of BIGZ's outstanding shares, and that the Board of Trustees of BlackRock Health Sciences Term Trust (NYSE: BMEZ) has approved a tender offer to repurchase 40% of BMEZ's outstanding shares, in each case at a price per share equal to 99.5% of the applicable Fund's net asset value per co.
11 Closed-End Fund Buys In The Month Of November 2024
This month, I've added to 11 different positions, but most of these were related to repurchases after the BlackRock tender offers. While I added to 11 different positions, these were all positions I had already held previously, so there were no new positions this month. In fact, I sold out of a fund to consolidate my holdings and reduce the number of funds held, as I did last month as well.
Certain BlackRock Funds Announce Final Results of Tender Offers
NEW YORK--(BUSINESS WIRE)---- $BIGZ--The BlackRock closed-end funds (the “Funds”) listed below announced today the final results of each Fund's tender offer (each, a “Tender Offer”) for up to 2.5% of its outstanding common shares (the “Shares”). The Tender Offers, which expired at 5:00 p.m. Eastern time on November 20, 2024, were oversubscribed for each Fund. Therefore, in accordance with the terms and conditions of the Tender Offers, each Fund will purchase Shares from all tendering shareholders on a pr.
Certain BlackRock Funds Announce Expiration and Preliminary Results of Tender Offers
NEW YORK--(BUSINESS WIRE)---- $BIGZ--The BlackRock closed-end funds (the “Funds”) listed below announced today the expiration and preliminary results of each Fund's tender offer (each, a “Tender Offer”) for up to 2.5% of its outstanding common shares (the “Shares”). Each Tender Offer commenced on October 18, 2024 and expired at 5:00 p.m. Eastern time on November 20, 2024. Based on preliminary information, the number of Shares properly tendered for each Fund and not withdrawn is noted in the table below.
9 Closed-End Fund Buys In The Month Of August 2024
The broader equity market saw declines in early August but ended near all-time highs to finish off the month. I put some capital to work this month at the low, but not as much as I had planned initially, as the market swiftly recovered. Most of the moves this month were corporate action-driven events, primarily the BlackRock tender offers, as we finished up the first measurement period.
BIGZ: Hasn't Lived Up To Its Potential So Far
BlackRock Innovation and Growth Term Trust focuses on small and mid-cap technology stocks, including private companies, with a 12% coverage ratio for covered calls. The fund's performance has been underwhelming since October 2022, up only 5% in share price and 25% in total returns, potentially due to its choice of stocks and private holdings. Currently trading at a NAV discount of -13%, the fund pays about 9 cents per share in monthly dividends, subject to change based on NAV fluctuations.
BIGZ: Risk Appetite Still Missing For Venture Capital
The BlackRock Innovation & Growth Term Trust fund has significantly underperformed since the equity bear market in 2022. BIGZ's venture capital portfolio has seen little turnover and has continued to decrease in value despite buoyant equity markets. Until the market starts to reward high-growth small-cap companies, I believe BIGZ will continue to struggle.
Distribution Dates and Amounts Announced for Certain BlackRock Closed-End Funds
NEW YORK--(BUSINESS WIRE)--Certain BlackRock closed-end funds (the “Funds”) announced distributions today as detailed below. Municipal Funds: Declaration- 3/1/2024 Ex-Date- 3/14/2024 Record- 3/15/2024 Payable- 4/1/2024 National Funds Ticker Distribution Change From Prior Distribution BlackRock Municipal Income Quality Trust* BYM $0.052500 - BlackRock Long-Term Municipal Advantage Trust* BTA $0.043500 - BlackRock MuniAssets Fund, Inc.* MUA $0.055500 - BlackRock Municipal Income Fund, Inc.
BIGZ: 17% Discount To NAV, But Be Careful
Growth and innovation stocks are expected to perform well in 2024 after experiencing a cycle of boom and bust. The BlackRock Innovation and Growth Term Trust presents an interesting investment opportunity as it may have bottomed out and is trading at a 17% discount to NAV. BIGZ is a complex closed-end fund with high risks.
BIGZ: 15% Discount To NAV And 6% Annualized Distribution
Closed-end funds offer investment opportunities at a sizeable discount to net asset value. BlackRock Innovation and Growth Term Trust is a closed-end fund with a 15.18% discount to NAV. Boaz Weinstein, a successful investor, has been advocating for better governance in BlackRock closed-end funds.
The Dirty Dozen CEFs From 2021: A Summary
In 2021, a dozen closed-end funds, or CEFs, were launched, but none of them performed well, with all of them experiencing negative total returns since inception. The CEFs trade at wide discounts to NAV, with an average discount of -12.5%, and offer high yield income with annual yields as high as 12.9%. The hybrid funds with global allocations and higher yielding taxable fixed income funds have performed better than municipal fixed income funds and equity funds.
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