BlackRock Closed-End Fund Share Repurchase Program Update

 

NEW YORK–(BUSINESS WIRE)–BlackRock Advisors, LLC (“BlackRock”) released today share repurchase activity for certain BlackRock-advised closed-end funds (the “Funds”) during the quarter ended December 31, 2022. The Funds have authorized open market share repurchase programs (the “Repurchase Programs”) pursuant to which each Fund may repurchase, through November 30, 2023, up to 5% of its outstanding common shares in open market transactions. 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. Below is a summary of share repurchase activity over this past quarter and since the inception of each Fund’s Repurchase Program:

Summary of share repurchase activity during the most recent calendar quarter ended December 31, 2022:

Fund Name

Ticker

Number of

Shares

Repurchased

Total Amount

of Shares

Repurchased

Total

Amount of

NAV

Accretion

Average

Discount on

Days

Repurchased

BlackRock Energy and Resources Trust

BGR

83,354

$1,023,385

$147,098

-12.8%

BlackRock Enhanced Global Dividend Trust

BOE

589,486

$5,523,056

$779,414

-12.5%

BlackRock Enhanced International Dividend Trust

BGY

717,531

$3,402,256

$452,631

-11.9%

BlackRock Health Sciences Trust II

BMEZ

1,962,259

$30,331,774

$6,009,305

-16.7%

BlackRock Science and Technology Trust II

BSTZ

461,288

$7,290,822

$1,691,138

-19.0%

BlackRock Innovation and Growth Trust

BIGZ

4,154,800

$29,302,944

$7,733,786

-20.8%

BlackRock Capital Allocation Trust

BCAT

1,716,301

$24,142,297

$4,794,971

-16.6%

BlackRock ESG Capital Allocation Trust

ECAT

1,505,905

$20,574,889

$4,475,286

-17.9%

BlackRock Resources & Commodities Strategy Trust

BCX

550,752

$5,389,354

$809,171

-13.2%

BlackRock California Municipal Income Trust

BFZ

409,086

$4,396,603

$723,743

-14.1%

BlackRock MuniHoldings California Quality Fund, Inc.

MUC

404,996

$4,377,905

$636,815

-12.7%

BlackRock MuniYield Pennsylvania Quality Fund

MPA

123,339

$1,367,828

$222,001

-13.8%

BlackRock New York Municipal Income Trust’

BNY

92,876

$937,167

$165,757

-11.0%

BlackRock MuniHoldings New York Quality Fund, Inc.

MHN

254,536

$2,529,632

$385,397

-13.5%

BlackRock MuniYield New York Quality Fund, Inc.

MYN

340,461

$3,282,340

$494,592

-13.3%

BlackRock MuniVest Fund, Inc.

MVF

88,718

$587,575

$73,050

-11.4%

Summary of share repurchase activity since Repurchase Program inception:

Fund Name

Ticker

Number of

Shares

Repurchased

Total Amount

of Shares

Repurchased

Total

Amount of

NAV

Accretion

Average

Discount on

Days

Repurchased

BlackRock Energy and Resources Trust

BGR

1,772,583

$17,109,936

$2,395,772

-12.6%

BlackRock Enhanced Equity Dividend Trust

BDJ

2,974,888

$23,626,347

$2,641,607

-10.1%

BlackRock Enhanced Global Dividend Trust

BOE

6,743,347

$69,079,606

$9,069,313

-11.9%

BlackRock Enhanced International Dividend Trust

BGY

7,243,637

$38,459,781

$4,858,296

-11.5%

BlackRock Health Sciences Trust II

BMEZ

3,072,736

$47,829,587

$9,156,779

-16.2%

BlackRock Science and Technology Trust II

BSTZ

461,288

$7,290,822

$1,691,138

-19.0%

BlackRock Innovation and Growth Trust

BIGZ

13,662,467

$138,987,727

$26,328,058

-17.8%

BlackRock Capital Allocation Trust

BCAT

4,390,352

$67,635,655

$11,547,447

-15.5%

BlackRock ESG Capital Allocation Trust

ECAT

3,325,611

$47,257,972

$9,686,105

-17.1%

BlackRock Resources & Commodities Strategy Trust

BCX

11,541,300

$90,722,845

$13,268,639

-13.2%

BlackRock Science and Technology Trust

BST

136,367

$2,799,570

$284,111

-9.1%

BlackRock Corporate High Yield Fund, Inc.

HYT

4,695,612

$48,249,031

$6,328,699

-11.8%

BlackRock Credit Allocation Income Trust

BTZ

4,222,616

$52,321,626

$7,126,080

-12.1%

BlackRock Debt Strategies Fund, Inc.

DSU

4,887,450

$54,871,336

$5,651,691

-9.7%

BlackRock Floating Rate Income Strategies Fund, Inc.

FRA

2,000,291

$24,605,346

$3,520,574

-12.8%

BlackRock Floating Rate Income Trust

BGT

1,306,651

$15,262,351

$2,175,889

-12.5%

BlackRock Income Trust, Inc.

BKT

145,423

$854,488

$239,094

-8.7%

BlackRock Limited Duration Income Trust

BLW

1,341,749

$19,494,225

$2,522,574

-11.4%

BlackRock Multi-Sector Income Trust

BIT

884,028

$14,722,265

$1,722,801

-10.5%

BlackRock California Municipal Income Trust

BFZ

1,332,260

$15,755,086

$2,535,812

-13.8%

BlackRock MuniHoldings California Quality Fund, Inc.

MUC

404,996

$4,377,905

$636,815

-12.7%

BlackRock MuniHoldings New Jersey Quality Fund, Inc.

MUJ

60,057

$796,819

$125,682

-13.6%

BlackRock MuniYield Michigan Quality Fund, Inc.

MIY

68,734

$886,694

$140,298

-13.9%

BlackRock MuniYield Pennsylvania Quality Fund

MPA

168,856

$1,983,666

$313,341

-13.3%

BlackRock New York Municipal Income Trust’

BNY

92,876

$937,167

$165,757

-11.0%

BlackRock MuniHoldings New York Quality Fund, Inc.

MHN

254,536

$2,529,632

$385,397

-13.5%

BlackRock MuniYield New York Quality Fund, Inc.

MYN

340,461

$3,282,340

$494,592

-13.3%

BlackRock MuniVest Fund, Inc.

MVF

88,718

$587,575

$73,050

-11.4%

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 Repurchase Program will be made on a national securities 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’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @blackrock | 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, and regulatory, supervisory or enforcement actions of government agencies relating to a Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities, health epidemics and/or pandemics 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.

Contacts

1-800-882-0052

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