BlackRock Science and Technology Trust II (BSTZ) Announces Release of First Quarter Fund Commentary
April 26 2021 - 9:20AM
Business Wire
BlackRock today announced the release of the first quarter fund
commentary for BlackRock Science and Technology Trust II (NYSE:
BSTZ, CUSIP: 09260K101 or the “Trust”). BSTZ is a closed-end fund
that takes a unique approach to investing in the technology sector
by blending “next generation” technology stocks and private
investments along with a tactical single-stock option-writing
strategy to generate income to support the Trust’s monthly
distribution. Key takeaways are listed below:
- BSTZ has returned 95% on market price1 since its IPO in
June 2019, outperforming the S&P MidCap 400 Info Tech Index by
28%
- On March 1, 2021, BSTZ announced a 49% increase in
its monthly distribution and now has an annualized distribution
rate of 5.4%2. Since inception, the Trust has paid $2.15 per
share in distributions3
- BSTZ holds 28 private investments4 (25% of the
portfolio) as of 3/31/21. The Trust has reached capacity in its
private allocation ahead of schedule. We continue to see a strong
pipeline of investment opportunities and will look to take
advantage of these when capacity opens through potential liquidity
events
Find more information on BSTZ’s portfolio positioning and
performance in the commentary linked below:
BSTZ First Quarter 2021 Commentary
For more information on BlackRock’s closed-end funds, please
visit www.blackrock.com/CEF
1 As of 3/31/2021 2 Distribution rate is calculated by
annualizing the latest declared distribution and dividing by the
closing market price on 4/22/2021. 3 The Trust has adopted a
managed distribution plan to support a level distribution of
income, capital gains and/or return of capital. If sufficient
investment income is not available on a monthly basis, the Trust
will distribute long-term capital gains and/or return capital to
shareholders in order to maintain the level distribution. You
should not draw any conclusions about the Trust 's investment
performance from the amount of these distributions or from the
terms of the Trust 's managed distribution plan. The Trust
estimates that it has distributed more than its income and net
realized capital gains; therefore, a portion of past distributions
may be a return of capital. A return of capital may occur, for
example, when some or all of the money that you invested in the
fund is paid back to you. A return of capital distribution does not
necessarily reflect the Trust 's investment performance and should
not be confused with ‘yield’ or ‘income'. In 2020, 12.19% of BSTZ’s
distribution was return of capital. 4 The information above is not
a prediction of future performance or any assurance that comparable
investment opportunities will be available at the time of
investment. It is non-representative of all underlying investments
made by the investment team and it should not be assumed that the
investment team will invest in comparable investments, or that any
future investments made by the investment team will be successful.
To the extent that these investments prove to be profitable, it
should not be assumed that the investment team’s other investments
will be profitable or will be as profitable.”
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provider of financial technology, we help millions of people build
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easier and more affordable. For additional information on
BlackRock, please visit www.blackrock.com | Twitter: @blackrock |
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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.
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