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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190905005997/en/
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