BlackRock Municipal Income Closed Fund
Certain Municipal Closed-End Funds Announce Share Repurchase Programs (Businesswire)
BlackRock Advisors, LLC announced today that the Boards of Directors/Trustees of the below BlackRock municipal closed-end funds (the “Funds”) have authorized open market share repurchase programs (the “Repurchase Programs”) pursuant to which each Fund may repurchase up to 5% of its outstanding common shares (based on common shares outstanding on November 30, 2018) in open market transactions through November 30, 2019. The Repurchase Programs seek to enhance shareholder value by purchasing Fund shares trading at a discount from their net asset value (“NAV”) per share.
The Funds that have authorized a Repurchase Program are as follows:
| Ticker |
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 | ||||||
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. Repurchases will not commence for a Fund until after all the required elements of the Repurchase Program for that Fund have been finalized and have become effective, including that the Fund provide necessary disclosure in its next annual or semi-annual shareholder report.
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Availability of Fund Updates
BlackRock will update performance and certain other data for the BlackRock closed-end funds (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
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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 3 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181115006052/en/
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