NEW YORK--(BUSINESS WIRE)--BlackRock Advisors, LLC announced today that the Boards of Directors/Trustees of sixty four BlackRock municipal, taxable fixed-income, and equity closed-end funds (the “Funds”) have authorized the renewal of open market share repurchase programs (the “Repurchase Programs”). Under each Fund’s current Repurchase Program, each Fund may repurchase, through November 30, 2019, up to 5% of its outstanding common shares (based on common shares outstanding on November 30, 2018) in open market transactions. Pursuant to the Board’s renewal of the Repurchase Programs, commencing on December 1, 2019, each Fund may repurchase up to 5% of its outstanding common shares (based on common shares outstanding on November 30, 2019) in open market transactions through November 30, 2020. The Repurchase Programs seek to enhance shareholder value by purchasing Fund shares trading at a discount from their net asset value (“NAV”) per share, which could result in incremental accretion to a Fund’s NAV.
The Funds that have authorized the renewal of a Repurchase Program are as follows:
Municipal Funds
Ticker (NYSE) |
Fund |
CUSIP |
BFZ |
BlackRock California Municipal Income Trust |
09248E102 |
BKN |
BlackRock Investment Quality Municipal Trust, Inc. |
09247D105 |
BTA |
BlackRock Long-Term Municipal Advantage Trust |
09250B103 |
BZM |
BlackRock Maryland Municipal Bond Trust |
09249L105 |
MHE |
BlackRock Massachusetts Tax-Exempt Trust |
09258E109 |
MUI |
BlackRock Muni Intermediate Duration Fund, Inc. |
09253X102 |
MNE |
BlackRock Muni New York Intermediate Duration Fund, Inc. |
09255F109 |
MUA |
BlackRock MuniAssets Fund, Inc. |
09254J102 |
BBK |
BlackRock Municipal Bond Trust |
09249H104 |
BAF |
BlackRock Municipal Income Investment Quality Trust |
09250G102 |
BBF |
BlackRock Municipal Income Investment Trust |
09248H105 |
BYM |
BlackRock Municipal Income Quality Trust |
092479104 |
BFK |
BlackRock Municipal Income Trust |
09248F109 |
BLE |
BlackRock Municipal Income Trust II |
09249N101 |
MEN |
BlackRock MuniEnhanced Fund, Inc. |
09253Y100 |
MUC |
BlackRock MuniHoldings California Quality Fund, Inc. |
09254L107 |
MHD |
BlackRock MuniHoldings Fund, Inc. |
09253N104 |
MUH |
BlackRock MuniHoldings Fund II, Inc. |
09253P109 |
MFL |
BlackRock MuniHoldings Investment Quality Fund |
09254P108 |
MUJ |
BlackRock MuniHoldings New Jersey Quality Fund, Inc. |
09254X101 |
MHN |
BlackRock MuniHoldings New York Quality Fund, Inc. |
09255C106 |
MUS |
BlackRock MuniHoldings Quality Fund, Inc. |
09254A101 |
MUE |
BlackRock MuniHoldings Quality Fund II, Inc. |
09254C107 |
MVF |
BlackRock MuniVest Fund, Inc. |
09253R105 |
MVT |
BlackRock MuniVest Fund II, Inc. |
09253T101 |
MZA |
BlackRock MuniYield Arizona Fund, Inc. |
09254K109 |
MYC |
BlackRock MuniYield California Fund, Inc. |
09254M105 |
MCA |
BlackRock MuniYield California Quality Fund, Inc. |
09254N103 |
MYD |
BlackRock MuniYield Fund, Inc. |
09253W104 |
MYF |
BlackRock MuniYield Investment Fund |
09254R104 |
MFT |
BlackRock MuniYield Investment Quality Fund |
09254T100 |
MIY |
BlackRock MuniYield Michigan Quality Fund, Inc. |
09254V105 |
MYJ |
BlackRock MuniYield New Jersey Fund, Inc. |
09254Y109 |
MYN |
BlackRock MuniYield New York Quality Fund, Inc. |
09255E102 |
MPA |
BlackRock MuniYield Pennsylvania Quality Fund |
09255G107 |
MQY |
BlackRock MuniYield Quality Fund, Inc. |
09254F100 |
MQT |
BlackRock MuniYield Quality Fund II, Inc. |
09254G108 |
MYI |
BlackRock MuniYield Quality Fund III, Inc. |
09254E103 |
BQH |
BlackRock New York Municipal Bond Trust |
09249P106 |
BSE |
BlackRock New York Municipal Income Quality Trust |
09249U105 |
BNY |
BlackRock New York Municipal Income Trust |
09248L106 |
BFY |
BlackRock New York Municipal Income Trust II |
09249R102 |
BSD |
The BlackRock Strategic Municipal Trust |
09248T109 |
BHV |
BlackRock Virginia Municipal Bond Trust |
092481100 |
Taxable Fixed-Income Funds
Ticker (NYSE) |
Fund |
CUSIP |
BBN |
BlackRock Taxable Municipal Bond Trust |
09248X100 |
BHK |
BlackRock Core Bond Trust |
09249E101 |
HYT |
BlackRock Corporate High Yield Fund, Inc. |
09255P107 |
BTZ |
BlackRock Credit Allocation Income Trust |
092508100 |
EGF |
BlackRock Enhanced Government Fund, Inc. |
09255K108 |
FRA |
BlackRock Floating Rate Income Strategies Fund, Inc. |
09255X100 |
BGT |
BlackRock Floating Rate Income Trust |
091941104 |
BKT |
BlackRock Income Trust, Inc. |
09247F100 |
BLW |
BlackRock Limited Duration Income Trust |
09249W101 |
BIT |
BlackRock Multi-Sector Income Trust |
09258A107 |
DSU |
BlackRock Debt Strategies Fund, Inc. |
09255R202 |
Equity Funds
Ticker (NYSE) |
Fund |
CUSIP |
BGR |
BlackRock Energy and Resources Trust |
09250U101 |
CII |
BlackRock Enhanced Capital and Income Fund, Inc. |
09256A109 |
BDJ |
BlackRock Enhanced Equity Dividend Trust |
09251A104 |
BOE |
BlackRock Enhanced Global Dividend Trust |
092501105 |
BME |
BlackRock Health Sciences Trust |
09250W107 |
BGY |
BlackRock Enhanced International Dividend Trust |
092524107 |
BCX |
BlackRock Resources & Commodities Strategy Trust |
09257A108 |
BST |
BlackRock Science and Technology Trust |
09258G104 |
BUI |
BlackRock Utilities, Infrastructure & Power Opportunities Trust |
09248D104 |
The amount and timing of any repurchases under each Fund’s Repurchase Program will be determined either at the discretion of the Fund’s management or pursuant to predetermined parameters and instructions subject to market conditions. There is no assurance that any Fund will repurchase shares in any particular amounts. A Fund’s repurchase activity will be disclosed in its shareholder report for the relevant fiscal period. Any repurchases made under any Fund Repurchase Program will be made on a national security exchange at the prevailing market price, subject to exchange requirements and certain volume and timing limitations and other regulations under federal securities laws.
About BlackRock
BlackRock helps investors build better financial futures. As a fiduciary to investors and a leading provider of financial technology, our clients turn to us for the solutions they need when planning for their most important goals. As of June 30, 2019, the firm managed approximately $6.842 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit www.blackrock.com | Twitter: @blackrock | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com/company/blackrock
Availability of Fund Updates
BlackRock will update performance and certain other data for the Funds on a monthly basis on its website in the “Closed-end Funds” section of www.blackrock.com as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated performance information and the release of other material information about the Funds. This reference to BlackRock’s website is intended to allow investors public access to information regarding the Funds and does not, and is not intended to, incorporate BlackRock’s website in this release.
Forward-Looking Statements
This press release, and other statements that BlackRock or a Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to a Fund’s or BlackRock’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions.
BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.
With respect to the Funds, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Funds or in a Fund’s net asset value; (2) the relative and absolute investment performance of a Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to a Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock’s ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions.
Annual and Semi-Annual Reports and other regulatory filings of the Funds with the Securities and Exchange Commission (“SEC”) are accessible on the SEC's website at www.sec.gov and on BlackRock’s website at www.blackrock.com, and may discuss these or other factors that affect the Funds. The information contained on BlackRock’s website is not a part of this press release.