Skip to main content

BlackRock Closed-End Fund Share Repurchase Program Update

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.

Contacts

1-800-882-0052

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.