NEW YORK, July 01, 2026--(BUSINESS WIRE)--BlackRock today updated shareholders on the progress of its discount management programs (the "Programs") for certain BlackRock closed-end funds, part of a proactive effort to address trading discounts, support shareholder alignment and provide a potential liquidity mechanism when program conditions are met.
The Programs, which began on January 1, 2026, and are scheduled to run through September 30, 2026 (the "Measurement Period"), are part of BlackRock's broader closed-end fund discount-management toolkit designed to provide a disciplined, transparent framework for addressing trading discounts while aligning with shareholder interests.
Under the Programs, if a Fund's common shares trade at an average daily discount to net asset value ("NAV") greater than 10% during the Measurement Period, the Fund intends to conduct a tender offer to repurchase a minimum of 5% of its outstanding shares at a price equal to 98% of the Fund's NAV, as determined on the trading day after the tender offer expires.
Mid-Year Progress Snapshot
Based on average daily discounts from January 1, 2026, through June 30, 2026, most Funds in the Programs were trading below the 10% threshold that would trigger a tender offer.
Discount Results for Funds in the Program – year-to-date through June 30, 2026 | |||
Fund Name | Ticker | Average Daily Discount (January 1, 2026, to June 30, 2026) | Average daily discount greater than 10% YTD? |
BlackRock Capital Allocation Term Trust | BCAT | 0.96% | No |
BlackRock ESG Capital Allocation Term Trust | ECAT | -3.99% | No |
BlackRock Science and Technology Term Trust | BSTZ | -10.12% | Yes |
BlackRock Health Sciences Term Trust | BMEZ | -11.51% | Yes |
BlackRock Enhanced Global Dividend Trust | BOE | -9.53% | No |
BlackRock Energy and Resources Trust | BGR | -8.61% | No |
BlackRock Enhanced International Dividend Trust | BGY | -8.94% | No |
BlackRock Enhanced Large Cap Core Fund, Inc. | CII | 0.84% | No |
BlackRock Enhanced Equity Dividend Trust | BDJ | -6.12% | No |
BlackRock Science and Technology Trust | BST | -6.66% | No |
BlackRock Health Sciences Trust | BME | -4.31% | No |
BlackRock Resources & Commodities Strategy Trust | BCX | -6.96% | No |
BlackRock Utilities, Infrastructure, & Power Opportunities Trust | BUI | 1.59% | No |
BlackRock MuniHoldings Fund, Inc. | MHD | -8.33% | No |
BlackRock MuniYield New York Quality Fund, Inc. | MYN | -8.14% | No |
BlackRock MuniHoldings California Quality Fund, Inc. | MUC | -7.85% | No |
BlackRock MuniYield Quality Fund, Inc. | MQY | -7.41% | No |
BlackRock MuniAssets Fund, Inc. | MUA | -3.92% | No |
BlackRock MuniYield Quality Fund III, Inc. | MYI | -7.47% | No |
Ongoing Monitoring Through Measurement Period End
BlackRock will continue to monitor each Fund's discount to NAV through the remainder of the Measurement Period ending September 30, 2026, and expects to provide additional updates as the end of the Measurement Period approaches.