BlackRock Advisors, LLC released today share repurchase activity
for certain BlackRock closed-end funds (the “Funds”) during the
quarter ended September 30, 2022. The Funds have authorized open
market share repurchase programs (the “Repurchase Programs”)
pursuant to which each Fund may repurchase, through November 30,
2022, up to 5% of its outstanding common shares in open market
transactions. In September, BlackRock announced that the Boards of
Directors/Trustees of the Funds have authorized the renewal of the
Repurchase Programs through November 30, 2023. 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 September 30, 2022:
Fund Name
Ticker
Number of
Shares
Purchased
Total Amount
of Shares
Repurchased
Total
Amount of
NAV
Accretion
BlackRock Energy and Resources
Trust
BGR
361,269
$4,051,879
$566,015
BlackRock California Municipal
Income Trust
BFZ
210,872
$2,375,882
$328,714
BlackRock Enhanced Global
Dividend Trust
BOE
207,535
$1,866,674
$255,735
BlackRock Resources &
Commodities Strategy Trust
BCX
246,758
$2,165,475
$267,434
BlackRock Innovation and Growth
Trust
BIGZ
1,975,283
$14,811,781
$3,204,019
BlackRock Enhanced International
Dividend Trust
BGY
384,492
$1,762,933
$217,088
BlackRock Health Sciences Trust
II
BMEZ
524,542
$7,967,859
$1,451,496
BlackRock Capital Allocation
Trust
BCAT
703,504
$10,393,473
$1,916,063
BlackRock ESG Capital Allocation
Trust
ECAT
538,782
$7,739,237
$1,483,448
Summary of share repurchase activity since Repurchase Program
inception:
Fund Name
Ticker
Number of
Shares
Purchased
Total Amount
of Shares
Repurchased
Total
Amount of
NAV
Accretion
BlackRock Energy and Resources
Trust
BGR
1,689,229
$16,086,551
$2,248,675
BlackRock Enhanced Equity
Dividend Trust
BDJ
2,974,888
$23,626,347
$2,641,607
BlackRock Enhanced Global
Dividend Trust
BOE
6,153,861
$63,556,550
$8,289,899
BlackRock Enhanced International
Dividend Trust
BGY
6,526,106
$35,057,525
$4,405,664
BlackRock Health Sciences Trust
II
BMEZ
1,110,477
$17,497,814
$3,147,474
BlackRock Innovation and Growth
Trust
BIGZ
9,507,667
$109,684,782
$18,594,272
BlackRock Capital Allocation
Trust
BCAT
2,674,051
$43,493,359
$6,752,476
BlackRock ESG Capital Allocation
Trust
ECAT
1,819,706
$26,683,083
$5,210,819
BlackRock Resources &
Commodities Strategy Trust
BCX
10,990,548
$85,333,490
$12,459,469
BlackRock Science and Technology
Trust
BST
136,367
$2,799,570
$284,111
BlackRock Corporate High Yield
Fund, Inc.
HYT
4,695,612
$48,249,031
$6,328,699
BlackRock Credit Allocation
Income Trust
BTZ
4,222,616
$52,321,626
$7,126,080
BlackRock Debt Strategies Fund,
Inc.
DSU
4,887,450
$54,871,336
$5,651,691
BlackRock Floating Rate Income
Strategies Fund, Inc.
FRA
2,000,291
$24,605,346
$3,520,574
BlackRock Floating Rate Income
Trust
BGT
1,306,651
$15,262,351
$2,175,889
BlackRock Income Trust, Inc.
BKT
145,423
$854,488
$79,581
BlackRock Limited Duration Income
Trust
BLW
1,341,749
$19,494,225
$2,522,574
BlackRock Multi-Sector Income
Trust
BIT
884,028
$14,722,265
$1,722,801
BlackRock California Municipal
Income Trust
BFZ
923,174
$11,358,483
$1,812,069
BlackRock MuniHoldings New Jersey
Quality Fund, Inc.
MUJ
60,057
$796,819
$125,682
BlackRock MuniYield Michigan
Quality Fund, Inc.
MIY
68,734
$886,694
$140,298
BlackRock MuniYield Pennsylvania
Quality Fund
MPA
45,517
$615,838
$91,340
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.
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