| Weird Circumstance Makes These 8% Dividends An Urgent Buy |
It's finally happening: Management fees on our favorite 8%+ paying assets—closed-end funds (CEFs)—are falling. And some are sending their already soaring dividends even higher, too. |
forbes.com |
2024-05-25 14:37:00 |
Czytaj oryginał (ang.) |
| BlackRock Announces Management Fee Waiver for Certain Closed-End Funds |
NEW YORK--(BUSINESS WIRE)--The BlackRock closed-end funds (each a “Fund,” and collectively the “Funds”) listed below announced today the implementation of voluntary management fee waivers, effective May 1, 2024. Under the terms of this initiative, BlackRock Advisors, LLC (“BlackRock”) intends to waive management fees if certain conditions, detailed below, are met. In addition, BlackRock will be waiving an additional one-time $2 million in management/advisory fees pro-rata across the Funds. “We believe this fee waiver is a meaningful enhancement to these Funds and will increase tax-exempt income to shareholders, consistent with their investment objective. We will continue to evaluate options for improving our closed-end funds for the benefit of all shareholders, as we work to protect and advance their best interests,” said R. Glenn Hubbard, Chair of the Board of BlackRock Closed-End Funds. BlackRock Closed-End Funds Implementing a Voluntary Management Fee Waiver Fund Name Ticker BlackRock MuniHoldings California Quality Fund, Inc. MUC BlackRock MuniHoldings New Jersey Quality Fund, Inc. MUJ BlackRock MuniHoldings New York Quality Fund, Inc. MHN BlackRock MuniHoldings Fund, Inc. MHD BlackRock MuniHoldings Quality Fund II, Inc. MUE BlackRock MuniAssets Fund, Inc. MUA BlackRock Investment Quality Municipal Trust, Inc. BKN BlackRock MuniYield Fund, Inc. MYD BlackRock MuniYield Quality Fund III, Inc. MYI BlackRock MuniYield New York Quality Fund, Inc. MYN BlackRock MuniYield Quality Fund, Inc. MQY BlackRock MuniYield Quality Fund II, Inc. MQT BlackRock MuniYield Michigan Quality Fund, Inc. MIY BlackRock MuniYield Pennsylvania Quality Fund MPA BlackRock MuniVest Fund II, Inc. MVT BlackRock MuniVest Fund, Inc. MVF BlackRock Municipal Income Fund, Inc. MUI BlackRock Municipal Income Trust BFK BlackRock Municipal Income Trust II BLE BlackRock Municipal Income Quality Trust BYM BlackRock California Municipal Income Trust BFZ BlackRock New York Municipal Income Trust BNY BlackRock Virginia Municipal Bond Trust BHV BlackRock Long-Term Municipal Advantage Trust BTA With respect to each Fund, if the monthly dividend on preferred shares (VRDP or VMTP) exceeds the calculated value1 of the Fund’s gross monthly income attributable to investments from the proceeds of the preferred shares, then BlackRock will waive the management fee payable to BlackRock charged on preferred share assets.2 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 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. 1 Determined by multiplying the Fund’s gross monthly income by the ratio of (i) the liquidation preference of any outstanding preferred shares to (ii) total assets of the Fund minus the sum of its accrued liabilities (which does not include liabilities represented by TOB Trusts and the liquidation preference of any outstanding preferred shares. 2 The voluntary waivers may be reduced or discontinued at any time without notice. |
https://www.businesswire.com |
2024-05-20 10:00:00 |
Czytaj oryginał (ang.) |
| Distribution Dates and Amounts Announced for Certain BlackRock Closed-End Funds |
NEW YORK--(BUSINESS WIRE)--Certain BlackRock closed-end funds (the “Funds”) announced distributions today as detailed below. Municipal Funds: Declaration- 3/1/2024 Ex-Date- 3/14/2024 Record- 3/15/2024 Payable- 4/1/2024 National Funds Ticker Distribution Change From Prior Distribution BlackRock Municipal Income Quality Trust* BYM $0.052500 - BlackRock Long-Term Municipal Advantage Trust* BTA $0.043500 - BlackRock MuniAssets Fund, Inc.* MUA $0.055500 - BlackRock Municipal Income Fund, Inc. |
businesswire.com |
2024-03-01 18:30:00 |
Czytaj oryginał (ang.) |
| CORRECTING and REPLACING BlackRock Closed-End Fund Share Repurchase Program Update |
NEW YORK--(BUSINESS WIRE)--Please replace the release dated April 11, 2023, with the following corrected version due to changes in the table, "Summary of share repurchase activity since Repurchase Program inception as of March 31, 2023". |
businesswire.com |
2023-04-14 20:30:00 |
Czytaj oryginał (ang.) |
| MUJ Vs. NXJ: There Is A Clear Winner, NJ Residents |
MUJ is the BlackRock MuniHoldings New Jersey Quality Fund. NXJ is the Nuveen New Jersey Quality Municipal Income Fund. |
seekingalpha.com |
2022-07-18 11:00:00 |
Czytaj oryginał (ang.) |
| BlackRock Announces Closing of Reorganizations of Two Municipal Closed-End Funds |
NEW YORK--(BUSINESS WIRE)--BlackRock Advisors, LLC today announced the reorganization of BlackRock MuniYield New Jersey Fund, Inc. (NYSE: MYJ) with and into BlackRock MuniHoldings New Jersey Quality Fund, Inc. (NYSE: MUJ and together with MYJ, the “Funds,” and each, a “Fund”) (the “Reorganization”) is effective as of the opening for business of the New York Stock Exchange on Monday, April 11, 2022. In the Reorganization, common shareholders of MYJ received an amount of MUJ common shares equal t |
businesswire.com |
2022-04-11 13:15:00 |
Czytaj oryginał (ang.) |
| BlackRock Announces Special Distributions Related to the Reorganization of Two Municipal Closed-End Funds. |
NEW YORK--(BUSINESS WIRE)--BlackRock Advisors, LLC today announced the declaration of a special distribution for BlackRock MuniYield New Jersey Fund, Inc. (NYSE: MYJ) and an early declaration for BlackRock MuniHoldings New Jersey Quality Fund, Inc. (NYSE: MUJ and together with MYJ, the “Funds,” and each, a “Fund”) in connection with the reorganization of MYJ into MUJ, with MUJ continuing (the “Combined Fund”) as the surviving Fund (the “Reorganization”). With respect to MYJ, the special distrib |
businesswire.com |
2022-03-18 20:00:00 |
Czytaj oryginał (ang.) |
| BlackRock Announces Results of Shareholder Vote at Adjourned Joint Special Shareholder Meeting Relating to the Reorganizations of Two Municipal Closed-End Funds |
NEW YORK--(BUSINESS WIRE)--BlackRock Advisors, LLC announced today that, at a joint special meeting of shareholders (the “Meeting”) of BlackRock MuniYield New Jersey Fund, Inc. (NYSE: MYJ) and BlackRock MuniHoldings New Jersey Quality Fund, Inc. (NYSE: MUJ and together with MYJ, the “Funds,” and each, a “Fund”), the requisite vote of shareholders of each Fund have approved the reorganization of MYJ with and into MUJ, with MUJ continuing as the surviving Fund, and the transactions contemplated t |
businesswire.com |
2022-03-04 18:30:00 |
Czytaj oryginał (ang.) |
| BlackRock Announces Results of Joint Special Shareholder Meeting Relating to the Reorganizations of Two Municipal Closed-End Funds |
NEW YORK--(BUSINESS WIRE)--BlackRock Advisors, LLC announced today that, at a joint special meeting of shareholders (the “Meeting”) of BlackRock MuniYield New Jersey Fund, Inc. (NYSE: MYJ) and BlackRock MuniHoldings New Jersey Quality Fund, Inc. (NYSE: MUJ and together with MYJ, the “Funds,” and each, a “Fund”), the Funds did not obtain the requisite votes of common shareholders to approve the reorganization of MYJ with and into MUJ, with MUJ continuing as the surviving Fund, and the transactio |
businesswire.com |
2022-02-04 19:00:00 |
Czytaj oryginał (ang.) |
| Weekly Closed-End Fund Roundup: June 21, 2020 |
4 out of 23 CEF sectors positive on price and 6 out of 23 sectors positive on NAV last week. MLPs lead while commodities lag. Preferreds have the highest sector |
seekingalpha.com |
2020-06-30 13:40:33 |
Czytaj oryginał (ang.) |
| The Reopening Killed The V-Shaped Recovery |
This is a weekly series focused on analyzing the previous week’s economic data releases. The objective is to concentrate on leading indicators of economic activ |
seekingalpha.com |
2020-06-29 11:43:33 |
Czytaj oryginał (ang.) |
| Weekly Closed-End Fund Roundup: June 14, 2020 |
Risk-off week as 4 out of 23 CEF sectors positive on price and 6 out of 23 sectors positive on NAV last week. Munis lead while MLPs lag. Big cuts to KYN/KMF. |
seekingalpha.com |
2020-06-23 11:49:09 |
Czytaj oryginał (ang.) |
| White Oak Commercial Finance Loans Exceeded $600MM in 2019, Surpass $300MM YTD |
White Oak Commercial Finance, LLC (“White Oak” or |
businesswire.com |
2020-06-18 04:00:00 |
Czytaj oryginał (ang.) |
| Americans Plan to Spend $737 on the First Trip - Rus Tourism News |
Due to the coronavirus pandemic, many Americans found visiting family and friends to be a challenge and others were unable to do so at all. |
rustourismnews.com |
2020-06-05 16:30:43 |
Czytaj oryginał (ang.) |
| N.J. failed to fix unemployment system for 19 years, records show. Now Murphy pleads patience. |
About 1.1 million unemployment claims have been filed in just two months, and the system can't handle the surge. |
nj.com |
2020-05-14 14:45:29 |
Czytaj oryginał (ang.) |
| BlackRock NJ CEF: 14% Discount To NAV And 7.25% Taxable Equivalent Yield |
BlackRock's Municipal New Jersey Quality Fund trades at a 14% discount to its NAV. This is near the all-time wides on a NAV basis. This CEF currently has a tax- |
seekingalpha.com |
2020-04-23 21:47:51 |
Czytaj oryginał (ang.) |
| Bank of America Corp DE Acquires 1,220 Shares of BlackRock MuniHoldings New Jersey Ins Fn (NYSE:MUJ) |
Bank of America Corp DE grew its position in BlackRock MuniHoldings New Jersey Ins Fn (NYSE:MUJ) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 132,202 shares of the financial services provider’s stock after acquiring an additional 1,220 shares during the quarter. Bank of America Corp DE’s holdings in BlackRock MuniHoldings New Jersey […] |
thelincolnianonline.com |
2020-04-20 12:52:47 |
Czytaj oryginał (ang.) |
| Ladenburg Thalmann Financial Services Inc. Cuts Holdings in BlackRock MuniHoldings New Jersey Ins Fn (NYSE:MUJ) |
Ladenburg Thalmann Financial Services Inc. decreased its holdings in BlackRock MuniHoldings New Jersey Ins Fn (NYSE:MUJ) by 10.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 13,454 shares of the financial services provider’s stock after selling 1,591 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in BlackRock MuniHoldings New Jersey Ins […] |
thelincolnianonline.com |
2020-04-18 14:28:41 |
Czytaj oryginał (ang.) |
| BlackRock MuniHoldings New Jersey Ins Fn (NYSE:MUJ) to Issue Monthly Dividend of $0.05 |
BlackRock MuniHoldings New Jersey Ins Fn (NYSE:MUJ) declared a monthly dividend on Friday, April 3rd, Wall Street Journal reports. Shareholders of record on Wednesday, April 15th will be given a dividend of 0.054 per share by the financial services provider on Friday, May 1st. This represents a $0.65 dividend on an annualized basis and a […] |
thelincolnianonline.com |
2020-04-13 17:46:42 |
Czytaj oryginał (ang.) |
| Advisor Group Inc. Boosts Holdings in BlackRock MuniHoldings New Jersey Ins Fn (NYSE:MUJ) |
Advisor Group Inc. increased its holdings in BlackRock MuniHoldings New Jersey Ins Fn (NYSE:MUJ) by 100.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,000 shares of the financial services provider’s stock after purchasing an additional 1,000 shares during […] |
thelincolnianonline.com |
2020-04-09 12:24:49 |
Czytaj oryginał (ang.) |