| CEF Weekly Review: BlackRock Resets Its Tender Offers |
We review the CEF market valuation and performance through the first week of April and highlight recent market action. Nearly all CEF sectors were down; Munis and Agencies saw gains due to the sharp drop in Treasury yields. BlackRock announced new CEF tender offers starting mid-April, impacting funds like BOE, BCX, BGY, BSTZ, and MVF, with a 2.5% share buyback at a 2% discount. |
seekingalpha.com |
2025-04-13 18:00:14 |
Czytaj oryginał (ang.) |
| Municipal Update: Key Themes And Allocation Tilts |
We discuss key Muni themes, including tariffs, federal funding freeze, tax exemption, and more. Muni valuations remain attractive, particularly the value of the tax exemption. We highlight the four Muni buckets where we see value. |
seekingalpha.com |
2025-02-21 00:34:59 |
Czytaj oryginał (ang.) |
| Municipal CEF Update: Discounts And Rates Deliver A Rally |
We discuss Muni CEF performance, distributions and valuations in this latest update. Municipal CEFs have outperformed due to high rates, wide discounts, and rising distributions, however the easy money has mostly been made in our view. Municipal bonds remain attractive compared to corporate bonds, but Muni CEF discounts have tightened to historic averages, reducing their previous appeal. |
seekingalpha.com |
2024-10-03 11:12:52 |
Czytaj oryginał (ang.) |
| CEF Weekly Review: Managers Kick It Up A Notch In Fight With Saba |
We review the CEF market valuation and performance through the first week of August and highlight recent market action. CEF performance diverged this week as higher-quality / longer duration sectors like Munis outperformed. NYSE proposed rule change could eliminate annual CEF shareholder meetings, potentially impacting shareholder activism and competition in the CEF space. |
seekingalpha.com |
2024-08-11 09:09:48 |
Czytaj oryginał (ang.) |
| CEF Weekly Review: Saba/BlackRock Feud Escalates |
We review CEF market valuation and performance through the first week of July and highlight recent market action. All CEF sectors finished the week in the green, with fixed-income CEF sector discounts now expensive and equity CEF sector discounts somewhat cheap. Saba and BlackRock came out with differing press releases on the latest proxy votes over board membership and termination of CEFs. |
seekingalpha.com |
2024-07-14 13:44:53 |
Czytaj oryginał (ang.) |
| BlackRock MuniVest Fund, Inc. (MVF) Announces Adoption of Discount Management Program |
NEW YORK--(BUSINESS WIRE)---- $MVF--BlackRock MuniVest Fund, Inc. (NYSE: MVF, the “Fund”) announced today the adoption of a discount management program (the "Program"). Under the terms of the Program, the Fund intends to offer to repurchase a portion of its common shares via tender offer if certain conditions are met during specified time periods, as detailed below. If MVF's common shares trade at an average daily discount to net asset value ("NAV") of more than 7.50% during a 3-month measurement period. |
businesswire.com |
2024-05-03 22:04:00 |
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.) |
| Certain BlackRock Municipal Closed-End Funds Announce Variable Rate Muni Term Preferred Shares Actions |
NEW YORK--(BUSINESS WIRE)--BlackRock Advisors, LLC today announced BlackRock Municipal Income Trust (NYSE: BFK), BlackRock Investment Quality Municipal Trust, Inc. (NYSE: BKN), BlackRock Municipal Income Trust II (NYSE: BLE), BlackRock Municipal Income Quality Trust (NYSE: BYM), BlackRock MuniHoldings Fund, Inc. (NYSE: MHD), BlackRock MuniYield Quality Fund II, Inc. (NYSE: MQT), BlackRock MuniHoldings Quality Fund II, Inc. (NYSE: MUE), BlackRock MuniVest Fund, Inc. (NYSE: MVF), and BlackRock MuniVest Fund II, Inc. (NYSE: MVT) (collectively, the “Funds”) intend to redeem a portion of their outstanding Series W-7 Variable Rate Muni Term Preferred Shares (“VMTP Shares”) on or about November 24, 2023, at a redemption price equal to the liquidation preference of $100,000 per share, together with accumulated and unpaid dividends through the day prior to the redemption date. Shareholders are expected to benefit from lower expenses as a result of the redemptions. |
businesswire.com |
2023-11-02 19:15:00 |
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.) |
| CEF Report February 2023 | The January Effect Didn't Disappoint |
The January Effect boosted the valuation of most areas of the closed-end fund market. Taxable bond CEFs have rallied strongly while leaving munis behind. We think this is an opportunity for investors for 2023, as credit spreads are likely to widen, dragging down taxable bond NAVs. We favor munis and high-quality taxables. |
seekingalpha.com |
2023-02-22 12:54:58 |
Czytaj oryginał (ang.) |
| CEF Report August 2022 - CEFs Continue In Rally Mode, But For How Long? |
Risk assets continue to rebound with investors focusing on the potential of a Fed pivot given slower growth and inflation. We think we will shift from a stagflationary economic regime to a deflationary bust one. That means adding duration and quality. |
seekingalpha.com |
2022-08-24 11:00:00 |
Czytaj oryginał (ang.) |
| BlackRock Announces Fiscal Year End Changes for Certain Municipal Closed-End Funds |
NEW YORK--(BUSINESS WIRE)--BlackRock Advisors, LLC (“BlackRock”) announced today a change to the fiscal year end (“FYE”) for each Fund listed below. These changes were made to reduce operating costs for the Funds and will be effective as of July 31, 2022. Ticker (NYSE) Fund Current FYE New FYE BKN BlackRock Investment Quality Municipal Trust, Inc. 4/30 7/31 BTA BlackRock Long-Term Municipal Advantage Trust 4/30 7/31 MUA BlackRock MuniAssets Fund, Inc. 4/30 7/31 MUI BlackRock Municipal Income Fu |
businesswire.com |
2022-06-03 20:30:00 |
Czytaj oryginał (ang.) |
| Municipal CEF Market Update |
We take a look at the Municipal CEF sector which has held up very well despite a rise in Treasury yields. Fundamentals remain in good shape with the fiscal stimulus feeding through and the potential infrastructure tailwind in the pipeline. |
seekingalpha.com |
2021-06-04 13:18:25 |
Czytaj oryginał (ang.) |
| Key Themes Of The CEF Market |
Key Themes Of The CEF Market |
seekingalpha.com |
2021-03-01 12:22:49 |
Czytaj oryginał (ang.) |
| State Of The CEF Market Update |
We look at some broad CEF trends that have developed over the past year, such as performance relative to ETFs, as well as discount weakness. In our Income Portfolios, we continue to approach CEF allocation with a margin-of-safety perspective, while also diversifying into senior securities. |
seekingalpha.com |
2020-11-10 08:37:46 |
Czytaj oryginał (ang.) |
| Treasury Curve Bear-Steepened; Muni Yields Higher - Muni Fortnightly, August 31, 2020 |
The Treasury curve bear-steepened and muni yields followed higher. Moody’s: Covid-19 will result in state and local government austerity and higher leverage. |
seekingalpha.com |
2020-09-06 05:50:00 |
Czytaj oryginał (ang.) |
| Treasuries Had A Bear-Steepening Week: Fixed Income Weekly Monitor, August 31, 2020 |
Treasury yields bear-steepened. Powell comments on desire for more inflation not immediately recognizable in yields. |
seekingalpha.com |
2020-09-02 07:00:00 |
Czytaj oryginał (ang.) |
| Rule #1 For Bonds: Don't Lose Money |
At the beginning of this year, we created the Baskin Fixed Income Fund as a more efficient way to manage your fixed income investments. |
seekingalpha.com |
2020-08-30 09:47:09 |
Czytaj oryginał (ang.) |
| For Muni Investors, COVID-19 Provides Lessons In Liquidity |
Over the years, individual investors have flocked to municipal bonds to meet safety, income and after-tax return goals. |
seekingalpha.com |
2020-08-27 14:19:48 |
Czytaj oryginał (ang.) |
| Small Ways Muni Investors Can Make A Big Difference |
Municipal bonds issued by state and local entities fund projects across various sectors that create the foundation upon which local economies thrive. |
seekingalpha.com |
2020-07-28 12:58:55 |
Czytaj oryginał (ang.) |
| What Happened In The Bond Markets Last Week? Muni Fortnightly, July 20, 2020 |
Muni yields fell more as ratios have declined. Muni funds experienced net inflows for 10th consecutive week. |
seekingalpha.com |
2020-07-27 07:15:00 |
Czytaj oryginał (ang.) |
| 2020 Muni Market Midyear Update |
States and towns are reluctant to make any issuance until they have an understanding of just how bad their revenue losses are going to be. |
seekingalpha.com |
2020-07-15 14:29:54 |
Czytaj oryginał (ang.) |