BlackRock Advisors, LLC (“BlackRock”) released today share repurchase activity for certain BlackRock-advised closed-end funds (the “Funds”) during the quarter ended September 30, 2023. The Funds have authorized open market share repurchase programs (the “Repurchase Programs”) pursuant to which each Fund may repurchase, through November 30, 2023, up to 5% of its outstanding common shares in open market transactions. 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:
- BlackRock repurchased over $160 million in BlackRock municipal closed-end fund (“CEF”) shares, leading to approximately $25 million in shares in NAV accretion in 2023 year to date.
- Since the initial Repurchase Program inception in 2016, BlackRock has repurchased over $1.1 billion in shares across the BlackRock CEF complex, leading to over $184 million in NAV accretion.
Below is a summary of share repurchase activity over this past quarter and since the inception of each Fund’s Repurchase Program:
Municipal CEFs
Summary of share repurchase activity during the most recent calendar quarter ended September 30, 2023:
Fund Name | Ticker | Number of
| Total Amount of
| Total
| Average
|
BFZ | 34,606 | $385,787 | $47,791 | -11.2% | |
MUC | 735,540 | $7,647,378 | $1,341,702 | -15.1% | |
MUJ | 312,775 | $3,398,237 | $574,036 | -14.7% | |
MIY | 153,763 | $1,650,642 | $281,853 | -14.9% | |
MPA | 42,618 | $474,751 | $63,876 | -12.1% | |
BHV | 9,633 | $96,541 | $16,212 | -14.4% | |
BNY | 122,952 | $1,217,057 | $211,284 | -15.1% | |
MHN | 158,889 | $1,585,881 | $272,214 | -14.9% | |
MYN | 221,503 | $2,147,910 | $362,206 | -14.8% | |
MVF | 340,658 | $2,236,420 | $376,409 | -14.7% | |
MVT | 166,496 | $1,685,265 | $291,106 | -14.9% | |
MUI | 483,701 | $5,309,379 | $870,034 | -14.3% | |
MQY | 562,040 | $6,282,246 | $906,467 | -12.9% | |
MQT | 161,131 | $1,574,826 | $251,602 | -14.1% | |
BLE | 349,645 | $3,495,946 | $583,128 | -14.5% | |
BYM | 207,486 | $2,220,992 | $329,675 | -13.1% | |
BKN | 148,704 | $1,641,023 | $242,627 | -13.0% | |
MYD | 320,004 | $3,199,424 | $532,652 | -14.4% | |
BFK | 395,136 | $3,815,411 | $646,636 | -14.7% | |
MYI | 555,665 | $5,829,800 | $894,539 | -13.5% | |
MUE | 240,199 | $2,269,264 | $397,475 | -15.0% | |
MHD | 425,427 | $4,779,984 | $808,797 | -14.7% | |
MUA | 88,775 | $826,505 | $110,860 | -12.3% |
Summary of share repurchase activity since Repurchase Program inception as of September 30, 2023:
Fund Name | Ticker | Number of
| Total Amount
| Total
| Average
|
BFZ | 1,663,310 | $19,512,332 | $3,071,465 | -13.6% | |
MUC | 2,621,333 | $28,301,909 | $4,494,148 | -14.2% | |
MUJ | 1,106,333 | $12,552,142 | $1,940,909 | -14.0% | |
MIY | 476,746 | $5,370,544 | $866,490 | -14.3% | |
MPA | 367,579 | $4,241,328 | $645,345 | -12.9% | |
BHV | 15,392 | $157,923 | $25,966 | -14.2% | |
BNY | 401,087 | $4,053,212 | $692,198 | -14.4% | |
MHN | 704,554 | $7,171,483 | $1,121,240 | -13.9% | |
MYN | 1,005,789 | $9,915,953 | $1,549,492 | -13.9% | |
MVF | 1,030,405 | $6,903,752 | $1,064,057 | -13.8% | |
MVT | 392,282 | $4,085,532 | $649,784 | -14.0% | |
MUI | 1,348,660 | $15,345,720 | $2,284,385 | -13.4% | |
MQY | 1,012,460 | $11,476,304 | $1,617,081 | -12.6% | |
MQT | 339,561 | $3,397,997 | $512,709 | -13.5% | |
BLE | 833,204 | $8,560,298 | $1,325,686 | -13.9% | |
BYM | 330,309 | $3,599,426 | $514,021 | -12.7% | |
BKN | 376,081 | $4,187,507 | $591,719 | -12.8% | |
MYD | 749,894 | $7,737,267 | $1,185,618 | -13.7% | |
BFK | 877,427 | $8,609,992 | $1,405,305 | -14.3% | |
MYI | 1,020,790 | $10,891,959 | $1,598,590 | -13.0% | |
MUE | 437,902 | $4,200,900 | $709,986 | -14.5% | |
MHD | 887,327 | $10,165,532 | $1,650,197 | -14.1% | |
MUA | 88,775 | $826,505 | $110,860 | -12.3% |
Equity CEFs
Summary of share repurchase activity during the most recent calendar quarter ended September 30, 2023:
Fund Name | Ticker | Number of
| Total Amount
| Total
| Average
|
BMEZ | 1,515,753 | $22,384,628 | $4,276,401 | -15.7% | |
BIGZ | 2,490,297 | $17,319,181 | $3,938,979 | -19.0% | |
BSTZ | 845,159 | $14,060,665 | $3,213,653 | -19.1% | |
BCX | 1,000,736 | $9,420,661 | $1,398,013 | -13.2% | |
BGY | 660,810 | $3,485,985 | $497,831 | -12.9% | |
BOE | 351,426 | $3,476,988 | $534,150 | -13.6% | |
BGR | 214,134 | $2,727,745 | $361,972 | -12.1% |
Summary of share repurchase activity since Repurchase Program inception as of September 30, 2023:
Fund Name | Ticker | Number of
| Total Amount
| Total
| Average
|
BIGZ | 18,909,732 | $176,860,365 | $35,473,427 | -18.5% | |
BMEZ | 6,155,567 | $95,748,350 | $17,702,027 | -15.6% | |
BSTZ | 2,467,361 | $41,616,419 | $8,535,673 | -16.7% | |
BGR | 2,211,550 | $22,631,112 | $3,118,124 | -12.3% | |
BDJ | 2,974,888 | $23,626,347 | $2,641,607 | -10.1% | |
BOE | 7,603,259 | $77,598,471 | $10,349,962 | -12.2% | |
BGY | 9,274,687 | $49,389,567 | $6,386,285 | -11.9% | |
BCX | 14,201,774 | $116,163,619 | $16,914,856 | -13.1% | |
BST | 136,367 | $2,799,570 | $284,111 | -9.1% |
Multi-Asset CEFs
Summary of share repurchase activity during the most recent calendar quarter ended September 30, 2023:
Fund Name | Ticker | Number of
| Total Amount
| Total
| Average
|
BCAT | 673,184 | $9,718,056 | $1,515,672 | -13.8% | |
ECAT | 489,120 | $7,268,837 | $1,090,235 | -13.4% |
Summary of share repurchase activity since Repurchase Program inception as of September 30, 2023:
Fund Name |
