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
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.
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
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/
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