Blackrock ESG Capital Allocation Trust

BlackRock ESG Capital Allocation Term Trust maintains a high distribution yield, but the discount continues to narrow. I remain neutral and cautious on ECAT stock at its current shallow discount, but holding nonetheless as I believe a premium is possible. Saba Capital Management, an activist group, has continued to hold a large stake in the fund, keeping pressure on the BlackRock team.

ECAT: A High Distribution Yield With Key Activist Remaining Invested

The article provides an in-depth profile of a high-yield fund, including its dividend history, holdings, and performance metrics. Detailed analysis of the fund's valuation is included to help investors assess its potential for future returns. The article emphasizes the importance of understanding the fund's structure and strategy for maximizing yield.

ECAT: 21% Yield On ESG Stocks

BlackRock Taxable Municipal Bond Trust

BlackRock Capital Allocation Trust

BlackRock Resources & Commodities Strategy Trust

BlackRock Enhanced Equity Dividend Trust

BlackRock Energy and Resources Trust

BlackRock Enhanced International Dividend Trust

BlackRock Innovation & Growth Trust

Blackrock Health Sciences Trust

BlackRock Health Sciences Trust II

BlackRock Enhanced Global Dividend Trust

BlackRock Science & Technology

BlackRock Science and Technology Trust II

BlackRock Utilities Infrastructure & Power Opportunities Trust

BlackRock Enhanced Capital and Income Fund

NEW YORK--(BUSINESS WIRE)---- $BBN--Today, BlackRock Resources & Commodities Strategy Trust (NYSE: BCX), BlackRock Enhanced Equity Dividend Trust (NYSE: BDJ), BlackRock Energy and Resources Trust (NYSE: BGR), BlackRock Enhanced International Dividend Trust (NYSE: BGY), BlackRock Health Sciences Trust (NYSE: BME), BlackRock Health Sciences Term Trust (NYSE: BMEZ), BlackRock Enhanced Global Dividend Trust (NYSE: BOE), BlackRock Utilities, Infrastructure & Power Opportunities Trust (NYSE: BUI), Bla.

Certain BlackRock Closed-End Funds Announce Estimated Sources of Distributions

BlackRock ESG Capital Allocation Term Trust provides investors exposure to a highly flexible and diversified portfolio of equities and fixed-income securities. The fund had significant activist pressure, which helped to drive a number of changes at the fund to help reduce the fund's discount. The main driver was the massive distribution increase, which led to the fund's discount to narrow materially, but with a higher distribution policy, it is likely to continue to garner.

ECAT: High Distribution Helps Narrow Discount

Adams Diversified Equity Fund

Calamos Strategic Total Return Fund

NXG NextGen Infrastructure Income Fund

The broader equity market saw declines in early August but ended near all-time highs to finish off the month. I put some capital to work this month at the low, but not as much as I had planned initially, as the market swiftly recovered. Most of the moves this month were corporate action-driven events, primarily the BlackRock tender offers, as we finished up the first measurement period.

9 Closed-End Fund Buys In The Month Of August 2024

NEW YORK--(BUSINESS WIRE)---- $BCAT--Today, each of BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT), BlackRock Capital Allocation Term Trust (NYSE: BCAT), BlackRock Health Sciences Term Trust (NYSE: BMEZ), BlackRock Science and Technology Term Trust (NYSE: BSTZ), and BlackRock Innovation and Growth Term Trust (NYSE: BIGZ) (each a “Fund,” and collectively the “Funds”) declared its October distribution early under each Fund's managed distribution plan (“Plan”). Each Fund has adopted a Plan to supp.

Distribution Dates and Amounts Announced for ECAT, BCAT, BMEZ, BSTZ and BIGZ

ECAT has shown strong performance, exceeding the S&P 500 total return in the past year, and now offers a 20% yield at market price while trading at a discount. The fund's strategy includes a mix of equities, fixed income, private investments, and options with a focus on ESG principles. Recent changes include a managed distribution policy of 20% of the previous month's NAV and a tender offer to reduce the discount.

ECAT: One Of The Dirty Dozen CEFs Now Yields 20% And Is A Buy Before The Discount Closes

Blackrock California Muni Income Trust

Blackrock New York Municipal Income Trust

BlackRock MuniHoldings New York Quality Fund Inc

BlackRock MuniYield Pennsylvania Quality Fund

BlackRock MuniYield New York Quality Fund Inc

NEW YORK--(BUSINESS WIRE)--BlackRock Advisors, LLC (“BlackRock”) announced today the final certified voting results of the 2024 Annual Meetings of Shareholders (the “Annual Meetings”) of the ten closed-end funds contested by Saba Capital Management, L.P. (“Saba”): BlackRock Capital Allocation Term Trust (NYSE: BCAT) BlackRock California Municipal Income Trust (NYSE: BFZ) BlackRock Innovation and Growth Term Trust (NYSE: BIGZ) BlackRock Health Sciences Term Trust (NYSE: BMEZ) BlackRock New York.

BlackRock Announces Certified Results of 2024 Annual Meetings of Ten Contested Closed-End Funds

FS Credit Opportunities Corp

BlackRock Municipal Income Fund

Tortoise Energy Independence Fund, Inc.

Tortoise MLP Fund

Adams Natural Resources Fund Inc

Royce Global Value

Tortoise Essential Assets Income Term Fund

Tortoise Pipeline & Energy Fund

Tortoise Energy Infrastructure

NEW YORK--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, “Saba” or “we”) today commented on the outcome of the appeal brought in the United States Court of Appeals for the Second Circuit (the “Appellate Court”) by the BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT), BlackRock Municipal Income Fund (NYSE: MUI), Royce Global Value Trust (NYSE: RGT), Tortoise Midstream Energy Fund (NYSE: NTG), Tortoise Energy Independence Fund (NYSE: NDP), Tortois.

U.S. Court of Appeals for the Second Circuit Reaffirms Ruling That Certain Closed-End Funds, Including Funds Advised by BlackRock, Violated the Investment Company Act of 1940

NEW YORK--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, “Saba” or “we”) today commented on a ruling in the lawsuit it brought in the United States District Court for the Southern District of New York (the “Court”) against the BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT) (“ECAT”), and all 10 incumbent trustees to hold them accountable for adopting an illegal “Entrenchment Bylaw” that deprives shareholders of their right to elect directors an.

U.S. District Court for the Southern District of New York Denies BlackRock's Motion to Dismiss Saba Capital's Entrenchment Bylaw Lawsuit

Nuveen AMT-Free Municipal Value Fund

Western Asset Investment Grade Income Fund

Cohen And Steers Total Return Realty Fund

Cohen & Steers Real Estate Opportunities and Income Fund

Cohen & Steers Reit And Preferred Income Fund Inc

Cohen & Steers Quality Income Realty Fund

The overall broader indexes were heading higher after April's rather brief and shallow pullback. There was a bit more volatility toward the end of the month, which will be interesting to see if that develops into anything more material. Every month I make some purchases to compound and grow my monthly cash flow over time.

4 Closed-End Fund Buys In The Month Of May 2024

NEW YORK--(BUSINESS WIRE)--BlackRock Advisors, LLC (“BlackRock”) announced today that leading independent proxy advisory firm Glass Lewis has issued recommendations for the reelection of ALL of BlackRock's Board nominees and against ALL proposals put forth by dissident shareholder Saba Capital Management, L.P. (“Saba”) at the upcoming contested meetings for ten closed-end funds advised by BlackRock. Glass Lewis has recommended that shareholders vote on the WHITE proxy card: FOR ALL Board nomine.

Glass Lewis Supports ALL of BlackRock's Board Nominees and Rejects ALL of Saba's Proposals to Terminate BlackRock as Investment Adviser at Contested CEF Annual Meetings

NEW YORK--(BUSINESS WIRE)--BlackRock Advisors, LLC (“BlackRock”) announced today that Institutional Shareholder Services Inc. (“ISS”), a leading independent proxy advisory firm, has issued additional supportive reports for BlackRock and its Board nominees at several closed-end funds, and against the proposals put forth by dissident shareholder Saba Capital Management, L.P. (“Saba”). ISS has recommended that shareholders vote: AGAINST ALL proposals to terminate BlackRock as investment adviser of.

ISS Rejects ALL Proposals to Terminate BlackRock as Investment Adviser and Recommends Shareholders Support ALL BlackRock Board Nominees at BCAT, BMEZ, BNY, MPA on WHITE Proxy Card at Upcoming CEF Annual Meetings

Closed end funds often sell discounted to their daily NAV/share, making them attractive for high-yield investors. BlackRock ESG Capital Allocation Term Trust is a CEF that focuses on environmental, social, and governance criteria. Saba Capital Management is attempting to take over management of the ECAT CEF, among other BlackRock funds, potentially leading to changes in performance and discounts to NAV.

ECAT: 20% Yield, Significant Changes May Be On The Way

Gabelli Dividend & Income Trust

abrdn Life Sciences Investors 

Closed-end funds have unique features that make them very attractive investment vehicles for the right asset classes and investors who understand them. Especially for complex and/or less liquid asset classes, like corporate senior loans, high-yield bonds, collateralized loan obligations, and the more recently discovered (by retail investors) "private credit" Activist and institutional investors are worth watching, so we can piggyback onto their efforts in the closed-end fund world.

Finding Opportunities In The Closed-End Fund World

NEW YORK--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with its affiliates, “Saba” or “we”) today issued a presentation detailing its plan to deliver shareholder value at 10 BlackRock Advisors, LLC (“BlackRock”) closed-end funds (collectively, the “Funds”).1 The presentation can be viewed here. As a reminder, Saba has submitted proposals to (i.) elect new, independent directors to each of the Funds' Boards of Trustees, and (ii.) terminate the management agreement between BlackRock a.

Saba Capital Releases Presentation Detailing Plan to Deliver Enhanced Shareholder Value at 10 BlackRock Closed-End Funds

NEW YORK--(BUSINESS WIRE)--Today, the Board of Trustees of each of BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT), BlackRock Capital Allocation Term Trust (NYSE: BCAT), BlackRock Health Sciences Term Trust (NYSE: BMEZ), BlackRock Science and Technology Term Trust (NYSE: BSTZ), and BlackRock Innovation and Growth Term Trust (NYSE: BIGZ) (each a “Fund,” and collectively the “Funds”) announced increased distribution rates under each Fund's managed distribution plan (“Plan”). Each Fund ha.

BlackRock Announces Increased Distribution Rates for Certain Closed-End Funds

Aberdeen Standard Global Infr Inc Fd

Eagle Point Income Company Inc

RiverNorth Opportunities Fund, Inc.

Special Opportunities Fund Inc

Several high-yielding closed-end funds have announced increased monthly distributions for 2024. The funds mentioned have a forward annual yield exceeding 10%, except for one that yields 9.5%.

5 High Yield CEFs That Raised Distributions In 2024

Eaton Vance Tax-Advantaged Global Dividend Income Fund

John Hancock Tax-Advantaged Dividend Income Fund

PIMCO Dynamic Income Opportunities Fund

John Hancock Premium Dividend Fund

Cohen & Steers Tax-Adv Pref Secs and Inc Fund

Reaves Utility Income Fund

I have a total of 41 positions in my closed-end fund portfolio, with the top ten positions making up 36.52% of the portfolio. We have four new names making their way to my top ten list since the prior update, but three were already positions that have simply grown to be larger allocations. Closed-end funds overall look to be a place of opportunity as discounts remain historically wide across both equity and fixed-income-focused funds.

My Top 10 Closed-End Fund Holdings: December 2023

NEW YORK--(BUSINESS WIRE)--BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT, the “Trust”) announced an increase to its monthly distribution amount per share. This change was made in order to better align ECAT's distribution rate with its total return. ECAT returned 32.3% on market price and 18.1% on net asset value in 20231. This is the second distribution increase since the Trust's inception on September 27, 2021, after previously announcing a 25% increase in February 2023. BlackRock an.

BlackRock ESG Capital Allocation Term Trust (ECAT) Announces Increase to Distribution Under Managed Distribution Plan

BlackRock ESG Capital Allocation Term Trust is a target of the activist group Saba Capital Management. Even if Saba is unsuccessful, the fund is still worth considering with the large discount in a highly diversified portfolio. In the long run, investors should receive NAV back anyway as ECAT is a term fund providing an attractive monthly distribution to investors.

ECAT: Attractive Discount And Activist Position Grows

Eaton Vance Enhanced Equity Income Fund II

Nuveen AMT-Free Quality Municipal Income Fund

Hoya Capital High Dividend Yield ETF

October was a challenging month for the equity and fixed-income markets, with surging risk-free rates in the Treasury market putting pressure across the board. I've added to positions with utility, REIT, and municipal bond exposure, taking advantage of some extraordinary discounts in the closed-end fund space. The key theme was to continue to limit adding any significant fund-level leverage to my portfolio in the current month, as I've been doing throughout this year.

5 Closed-End Fund Buys In The Month Of October 2023 (And 1 ETF)

BlackRock 2037 Municipal Target Term Trust

Guggenheim Active Allocation Fund

MainStay CBRE Global Infrastructure Megatrends Fund

Pioneer Municipal High Income Opportunities Fund

Neuberger Berman Next Generation Connectivity Fund

Nuveen Core Plus Impact Fund

Nuveen Variable Rate Preferred & Income Fund

PIMCO Access Income Fund

Pimco Municipal Income Fund

RiverNorth Flexible Mncpl Inm Fnd II Inc

Thornburg Income Builder Opportunities Trust

Western Asset Diversified Income Fund

In 2021, a dozen closed-end funds, or CEFs, were launched, but none of them performed well, with all of them experiencing negative total returns since inception. The CEFs trade at wide discounts to NAV, with an average discount of -12.5%, and offer high yield income with annual yields as high as 12.9%. The hybrid funds with global allocations and higher yielding taxable fixed income funds have performed better than municipal fixed income funds and equity funds.

The Dirty Dozen CEFs From 2021: A Summary

NEW YORK--(BUSINESS WIRE)--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 v.

BIGZ, BMEZ, BSTZ, BCAT, and ECAT Repurchased over $137 Million of Shares in 2023

BlackRock ESG Capital Allocation Trust (ECAT) aims to provide total return and income through flexible investments in public and private markets tied to ESG growth opportunities. The fund is well-diversified with 367 holdings and writes options on about 12% of the portfolio for additional income and risk-adjusted returns. Activist investment firm Saba Capital has been consistently increasing its stake in ECAT, and other institutional investors also own shares.

News for Blackrock ESG Capital Allocation Trust ETF (ECAT)