BlackRock MuniHoldings California Quality Fund, Inc. BlackRock MuniHoldings New Jersey Quality Fund, Inc. BlackRock MuniYield Michigan Quality Fund, Inc. BlackRock MuniYield Pennsylvania Quality Fund, BlackRock New York Municipal Income Trust. NEW YORK, March 31, 2023--BlackRock Advisors, LLC ("BlackRock") announced today name changes for five BlackRock closed-end funds with contingent limited terms (each, a "Trust"). Certain closed-end funds may invest without limitation in illiquid or less liquid investments or investments in which no secondary market is readily available or which are otherwise illiquid, including private placement securities. BlackRock leverages this data to provide a summed up view across holdings and translates it to a fund's market value exposure to the listed Business Involvement areas above. The discount to NAV is one of the most appealing aspects of closed-end funds. During such periods, some investments could be sold only at arbitrary prices and with substantial losses. Read the prospectus carefully before investing. Explore BlackRock's managed funds and iShares ETFs. There is no assurance that any Fund will repurchase shares in any particular amounts. Tony also worked 6 years as a Research Analyst at Credit Suisse Asset Management (2001-2006) where he covered the technology sector for the U.S. large cap funds and was a portfolio manager for the Global Internet & Software sector fund. I discussed the whole preferred closed-end fund space more in . One potential beneficiary in 2023 is the First Trust Dynamic Europe Equity Income Fund (FDEU (opens in new tab), $12.44). The Information may not be used to create any derivative works, or in connection with, nor does it constitute, an offer to buy or sell, or a promotion or recommendation of, any security, financial instrument or product or trading strategy, nor should it be taken as an indication or guarantee of any future performance, analysis, forecast or prediction. 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 Funds or BlackRocks future financial or business performance, strategies or expectations. Net asset value (NAV) is the value of all fund assets, less liabilities divided by the number of shares outstanding. And, as an example, look no further than the ClearBridge MLP and Midstream Fund (CEM (opens in new tab), $35.63). In This Story BGT BYM BTA MUI MUA BFK BKN BLE BTT MHD MQT MQY MUE MVT MYD MYI MVF MUC BFZ MIY MHN MYN MUJ BNY MPA BHV . You're not going to get wealthy on that, of course. Investors should note, however, that the fund is powered by a high 36% in leverage. In such instances, the relevant share class-specific fee is applied to the synthetic, pre-inception performance to show how the share class would have performed had it existed over the time period shown. Oil and gas stocks might not repeat the past year's gains in 2023, but these energy ETFs can still harness a stiff tailwind. Leave the BlackRock site for Individuals to explore other content, Welcome to the BlackRock site for individuals. 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. ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of portfolios. * Includes 0.35% in management fees and 0.06% in other expenses. (opens in new tab). This and other information can be found in the Funds' prospectuses. BlackRock Advisors, LLC ("BlackRock") released today share repurchase activity for certain BlackRock-advised closed-end funds (the "Funds") during the The financial markets have in recent years experienced periods of extreme secondary market supply and demand imbalance, resulting in a loss of liquidity during which market prices were suddenly and substantially below traditional measures of intrinsic value. Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Is Meta Stock Still a Buy After Its Big Rally? Some BlackRock funds make distributions of ordinary income and capital gains at calendar year end. But PHYS, because it is a closed-end fund, can and does often trade at a discount to net asset value. Learn more about CEM at the ClearBridge provider site. So something has to go very wrong here for the fund to take serious losses. Past performance is not indicative of future results. And this might seem normal given that most of the world's largest and most innovative growth and technology companies reside in the good, ol' U.S. of A. Investors in traditional energy stocks tend to overlook anything with "sustainable" in the name, and renewable energy investors tend to be put off by the fund's holdings of pipelines. Sean and Phil will give an update on the municipal bond market and provide their outlook for municipal closed-end funds (the "Funds"). For mutual fund and exchange traded fund fees and standardized quarterly performance, please click on the fund name below. The very first closed-end fund was launched in 1893 more than 30 years before the first traditional mutual funds (like those you might find in your 401(k) plan) were created. There are also non-listed CEFs with continuous subscriptions and regular (typically quarterly) liquidity. Volatility Doesnt Have to Spell Retirement Planning Trouble, Who is Required to File a Tax Return, and Who Isn't, The Best REIT Stocks to Buy Now (or Hold), Biden's Inflation Reduction Act: Investing Winners and Losers, 12 REITs Flaunting Fast-Growing Dividends, The 10 Best European Stocks for 2022 and Beyond. This and other information can be found in the Funds' prospectuses which may be obtained by visiting the SEC Edgar database. 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. The fund may not be able to readily dispose of such investments at prices that approximate those at which the fund could sell such investments if they were more widely traded and, as a result of such illiquidity, the fund may have to sell other investments or engage in borrowing transactions if necessary to raise cash to meet its obligations. Symbol Last Price Change % Change; BDJ. The . Common shares for most of the closed-end funds identified above are only available for purchase and sale at current market price on a stock exchange. Use Shift+Tab keys to browse. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. * Includes 1.22% in management fees, 0.10% in other expenses and 1.02% in interest expenses. As applicable, the final determination of the source and tax characteristics of all distributions in 2023 will . Net asset value (NAV) is the value of all fund assets, less liabilities divided by the number of shares outstanding. The potential returns here look juicy, which is why JQC is one of the best closed-end funds to buy. Business Involvement metrics are calculated by BlackRock using data from MSCI ESG Research which provides a profile of each companys specific business involvement. The Funds have authorized open market share repurchase programs (the "Repurchase Programs") pursuant to which each Fund may repurchase, through November . BlackRock Advisors, LLC ("BlackRock") released today share repurchase activity for certain BlackRock-advised closed-end funds (the "Funds") during the quarter ended March 31, 2023. And here's where the fun starts. A Form 1099-DIV for the calendar year will be sent to shareholders to illustrate how the Funds distributions should be reported for federal income tax purposes. For funds with an investment objective that include the integration of ESG criteria, there may be corporate actions or other situations that may cause the fund or index to passively hold securities that may not comply with ESG criteria. Aggregate Bond ETF, BlackRock U.S. Equity Factor Rotation ETF, BlackRock Multi-Sector Opportunities Trust II, iShares iBonds Dec 2026 Term Muni Bond ETF, iShares iBonds Dec 2027 Term Muni Bond ETF, iShares iBonds Dec 2028 Term Muni Bond ETF, iShares iBonds 2023 Term High Yield and Income ETF, iShares iBonds 2024 Term High Yield and Income ETF, iShares iBonds 2025 Term High Yield and Income ETF, iShares Genomics Immunology and Healthcare ETF, iShares iBonds Dec 2029 Term Corporate ETF, iShares Commodity Curve Carry Strategy ETF, iShares U.S. Tech Breakthrough Multisector ETF, iShares iBonds Dec 2023 Term Treasury ETF, iShares iBonds Dec 2024 Term Treasury ETF, iShares iBonds Dec 2025 Term Treasury ETF, iShares iBonds Dec 2026 Term Treasury ETF, iShares iBonds Dec 2027 Term Treasury ETF, iShares iBonds Dec 2028 Term Treasury ETF, iShares iBonds Dec 2029 Term Treasury ETF, iShares ESG Aware Moderate Allocation ETF, iShares ESG Aware Aggressive Allocation ETF, iShares ESG Aware Conservative Allocation ETF, iShares iBonds Dec 2030 Term Corporate ETF, iShares ESG Advanced Total USD Bond Market ETF, BlackRock Sustainable Advantage International Equity Fund, BlackRock Sustainable Advantage Emerging Markets Equity Fund, iShares iBonds Dec 2030 Term Treasury ETF, iShares 25+ Year Treasury STRIPS Bond ETF, iShares Virtual Work and Life Multisector ETF, BlackRock Defensive Advantage International Fund, BlackRock Defensive Advantage Emerging Markets Fund, iShares iBonds 2026 Term High Yield and Income ETF, iShares International Developed Small Cap Value Factor ETF, BlackRock Innovation and Growth Term Trust, BlackRock Intermediate Muni Income Bond ETF, BlackRock High Yield Muni Income Bond ETF, BlackRock Hedge Fund Guided Portfolio Solution, BlackRock U.S. BlackRock Closed-End Funds 1-800-882-0052. Learn why its important to consider total return when evaluating a closed-end funds performance. So via PHYS, you can buy gold at a modest discount to market prices. Most pipeline stocks are organized as master limited partnerships (MLPs). Published 13 December 22. In a "normal" year, that acts as a return booster. Unlike private funds there are no performance fees. BlackRock MuniHoldings New York Quality Fund, Inc. BlackRock MuniYield New York Quality Fund, Inc. BlackRock MuniYield Quality Fund II, Inc. BlackRock MuniYield Quality Fund III, Inc. BlackRock MuniHoldings Quality Fund II, Inc. Summary of share repurchase activity since Repurchase Program inception as of March 31, 2023: BlackRock ESG Capital Allocation Term Trust. Closed structure allows for greater flexibility in the types of investment strategies that can be used and helps portfolio managers stay invested for the longterm without forced selling. To be included in MSCI ESG Fund Ratings, 65% of the funds gross weight must come from securities with ESG coverage by MSCI ESG Research (certain cash positions and other asset types deemed not relevant for ESG analysis by MSCI are removed prior to calculating a funds gross weight; the absolute values of short positions are included but treated as uncovered), the funds holdings date must be less than one year old, and the fund must have at least ten securities. When distributions exceed total return performance, the difference will reduce the Fund's net asset value per share. Performance results reflect past performance and are no guarantee of future results. Provide specific products and services to you, such as portfolio management or data aggregation. To reach a different BlackRock site directly, please update your user type. Last updated 3 April 23. Blackrock Closed-end Fund Share Repurchase Program Update Press Release Actions Download Email Add To Favorites Information Information Description : Dividend Press Release Publication date: Apr 11, 2023 Target Audience: For Individuals Product group: BlackRock Closed-End Funds Done Performance for other share classes will vary. (opens in new tab). 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. Only time will tell. 1-800-882-0052, View source version on businesswire.com: https://www.businesswire.com/news/home/20230411005761/en/. Learn more about MFM at the MFS provider site. Some funds may be based on or linked to MSCI indexes, and MSCI may be compensated based on the funds assets under management or other measures. EMO allows you to get access to some of the biggest and best names in the MLP space without all the irritating tax complications. The performance quoted represents past performance and does not guarantee future results. Kiplinger is part of Future plc, an international media group and leading digital publisher. This means that if anything goes sideways, JQC is first in line to get paid, and its claims are backed by real collateral. Data is as of Jan. 30. Net asset value (NAV) is the value of all fund assets, less liabilities divided by the number of shares outstanding. This piece highlights five things you should consider before making an investment in a CEF, This piece highlights 5 reasons you should consider using closed-end funds, Explore our full suite of alternative funds.