BlackRock (NYSE:BLK) Advisors, a leading provider of financial technology and fiduciary to investors, is preparing to redeem parts of the Series W-7 Variable Rate Muni Term Preferred Shares (VMTP Shares) held by its funds on November 24, 2023. The redemption price is established at the liquidation preference of $100,000 per share, inclusive of accumulated and unpaid dividends up until the preceding day. This strategic decision is designed to reduce shareholder expenses and promote financial well-being.
The variety of funds managed by BlackRock Advisors, including Municipal Income Trusts (BFK, BLE), Investment Quality Municipal Trust (BKN), MuniVest Funds (MVF, MVT), MuniHoldings Funds (MHD, MUE), Municipal Income Quality Trust (BYM), and MuniYield Quality Fund II (MQT), are all partaking in this initiative.
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