BlackRock Investment Quality Municipal Trust Inc. (BKN)

Cetera Investment Advisers raised its stake in Blackrock Investment Quality Municipal Trust (NYSE: BKN) by 85.3% during the undefined quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,575 shares of the company's stock after purchasing an additional 67,470 shares during the quarter.

I avoid funds like BKN that fund distributions with return of capital, as it risks misleading investors about true income. While the fund offers a high tax-free distribution rate, a significant portion is return of capital, not earned income, which I find problematic. Long-tenor muni bond funds like BKN inherently carry interest rate risk, but that's a normal trade-off for higher yields in this space.

BlackRock Investment Quality Municipal Trust is a closed-end fund that offers exposure to tax-exempt municipal bonds. The fund has a well-diversified portfolio with strong credit quality and a focus on capital preservation. BKN may lag behind the iShares National Muni Bond ETF due to its higher fees and use of leverage, but it offers tax advantages for investors.

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.

NEW YORK--(BUSINESS WIRE)--Certain BlackRock closed-end funds (the “Funds”) announced distributions today as detailed below. BlackRock Floating Rate Income Trust (NYSE: BGT), BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE: FRA) and BlackRock Debt Strategies Fund, Inc. (NYSE: DSU) announced increases to their monthly distributions. Certain BlackRock municipal Funds previously declared their December, January and February distributions and declared special distributions today in order.

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.

NEW YORK--(BUSINESS WIRE)--The Boards of Directors/Trustees of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE: MIY), BlackRock MuniYield Pennsylvania Quality Fund (NYSE: MPA), BlackRock Virginia Municipal Bond Trust (NYSE: BHV), BlackRock Investment Quality Municipal Trust, Inc. (NYSE: BKN) and BlackRock MuniYield Quality Fund III, Inc. (NYSE: MYI) (each, a “Fund” and collectively, the “Funds”) today announced the withdrawal of merger proposals that were previously approved by the Boards.

NEW YORK--(BUSINESS WIRE)--BlackRock Advisors, LLC announced today that the Boards of Directors/Trustees of BlackRock MuniYield Michigan Quality Fund, Inc. (NYSE: MIY), BlackRock MuniYield Pennsylvania Quality Fund (NYSE: MPA), BlackRock Virginia Municipal Bond Trust (NYSE: BHV), BlackRock Investment Quality Municipal Trust, Inc. (NYSE: BKN) and BlackRock MuniYield Quality Fund III, Inc. (NYSE: MYI) (each, a “Fund” and collectively, the “Funds”) have approved the mergers of each of MIY, MPA, BHV and BKN with and into MYI, with MYI continuing as the surviving Fund (collectively, the “Mergers”).

1 out of 22 CEF sectors positive on price and 0 out of 22 sectors positive on NAV last week. Senior loans lead while real estate lags.

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

BKN: Strong Municipal Bond CEF, Diversified Holdings, 5.3% Distribution Yield, Industry-Beating Returns

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