*DJ Certain Municipal Closed-End Funds Announce Share Repurchase Programs >BFZ
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2800)
November 15, 2018 17:30 ET (22:30 GMT)
Press Release: Certain Municipal Closed-End Funds Announce Share Repurchase Programs
Certain Municipal Closed-End Funds Announce Share Repurchase Programs
NEW YORK--(BUSINESS WIRE)--November 15, 2018--
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
(NYSE) Fund CUSIP
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BlackRock California Municipal Income
BFZ Trust 09248E102
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BlackRock Investment Quality Municipal
BKN Trust, Inc. 09247D105
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BlackRock Long-Term Municipal Advantage
BTA Trust 09250B103
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BZM BlackRock Maryland Municipal Bond Trust 09249L105
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BlackRock Massachusetts Tax-Exempt
MHE Trust 09258E109
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BlackRock Muni Intermediate Duration
MUI Fund, Inc. 09253X102
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BlackRock Muni New York Intermediate
MNE Duration Fund, Inc. 09255F109
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MUA BlackRock MuniAssets Fund, Inc. 09254J102
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BBK BlackRock Municipal Bond Trust 09249H104
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BlackRock Municipal Income Investment
BAF Quality Trust 09250G102
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BlackRock Municipal Income Investment
BBF Trust 09248H105
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BYM BlackRock Municipal Income Quality Trust 092479104
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BFK BlackRock Municipal Income Trust 09248F109
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BLE BlackRock Municipal Income Trust II 09249N101
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MEN BlackRock MuniEnhanced Fund, Inc. 09253Y100
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BlackRock MuniHoldings California
MUC Quality Fund, Inc. 09254L107
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MHD BlackRock MuniHoldings Fund, Inc. 09253N104
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MUH BlackRock MuniHoldings Fund II, Inc. 09253P109
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BlackRock MuniHoldings Investment
MFL Quality Fund 09254P108
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BlackRock MuniHoldings New Jersey
MUJ Quality Fund, Inc. 09254X101
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BlackRock MuniHoldings New York Quality
MHN Fund, Inc. 09255C106
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BlackRock MuniHoldings Quality Fund,
MUS Inc. 09254A101
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BlackRock MuniHoldings Quality Fund II,
MUE Inc. 09254C107
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MVF BlackRock MuniVest Fund, Inc. 09253R105
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MVT BlackRock MuniVest Fund II, Inc. 09253T101
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MZA BlackRock MuniYield Arizona Fund, Inc. 09254K109
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MYC BlackRock MuniYield California Fund, Inc. 09254M105
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BlackRock MuniYield California Quality
MCA Fund, Inc. 09254N103
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MYD BlackRock MuniYield Fund, Inc. 09253W104
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MYF BlackRock MuniYield Investment Fund 09254R104
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BlackRock MuniYield Investment Quality
MFT Fund 09254T100
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BlackRock MuniYield Michigan Quality
MIY Fund, Inc. 09254V105
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BlackRock MuniYield New Jersey Fund,
MYJ Inc. 09254Y109
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BlackRock MuniYield New York Quality
MYN Fund, Inc. 09255E102
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BlackRock MuniYield Pennsylvania
MPA Quality Fund 09255G107
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MQY BlackRock MuniYield Quality Fund, Inc. 09254F100
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BlackRock MuniYield Quality Fund II,
MQT Inc. 09254G108
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BlackRock MuniYield Quality Fund III,
MYI Inc. 09254E103
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BQH BlackRock New York Municipal Bond Trust 09249P106
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BlackRock New York Municipal Income
BSE Quality Trust 09249U105
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BlackRock New York Municipal Income
BNY Trust 09248L106
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BlackRock New York Municipal Income
BFY Trust II 09249R102
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BSD The BlackRock Strategic Municipal Trust 09248T109
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BHV BlackRock Virginia Municipal Bond Trust 092481100
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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.
About BlackRock
BlackRock helps investors build better financial futures. As a fiduciary to our clients, we provide the investment and technology solutions they need when planning for their most important goals. As of September 30, 2018, the firm managed approximately $6.44 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
(MORE TO FOLLOW) Dow Jones Newswires
November 15, 2018 17:30 ET (22:30 GMT)
Press Release: Certain Municipal Closed-End Funds -2-
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
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 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/
CONTACT: BlackRock Advisors, LLC
1-800-882-0052
(END) Dow Jones Newswires
November 15, 2018 17:30 ET (22:30 GMT)