BAF BlackRock Municipal Income Investment Quality Trust

BlackRock Advisors, LLC announced today that the Boards of Directors/Trustees of the below BlackRock municipal closed-end funds (the “Funds”) have authorized open market share repurchase programs (the “Repurchase Programs”) pursuant to which each Fund may repurchase up to 5% of its outstanding common shares (based on common shares outstanding on November 30, 2018) in open market transactions through November 30, 2019. The Repurchase Programs seek to enhance shareholder value by purchasing Fund shares trading at a discount from their net asset value (“NAV”) per share.

The Funds that have authorized a Repurchase Program are as follows:

                 

Ticker(NYSE)

      Fund       CUSIP BFZ       BlackRock California Municipal Income Trust       09248E102 BKN       BlackRock Investment Quality Municipal Trust, Inc.       09247D105 BTA       BlackRock Long-Term Municipal Advantage Trust       09250B103 BZM       BlackRock Maryland Municipal Bond Trust       09249L105 MHE       BlackRock Massachusetts Tax-Exempt Trust       09258E109 MUI       BlackRock Muni Intermediate Duration Fund, Inc.       09253X102 MNE       BlackRock Muni New York Intermediate Duration Fund, Inc.       09255F109 MUA       BlackRock MuniAssets Fund, Inc.       09254J102 BBK       BlackRock Municipal Bond Trust       09249H104 BAF       BlackRock Municipal Income Investment Quality Trust       09250G102 BBF       BlackRock Municipal Income Investment Trust       09248H105 BYM       BlackRock Municipal Income Quality Trust       092479104 BFK       BlackRock Municipal Income Trust       09248F109 BLE       BlackRock Municipal Income Trust II       09249N101 MEN       BlackRock MuniEnhanced Fund, Inc.       09253Y100 MUC       BlackRock MuniHoldings California Quality Fund, Inc.       09254L107 MHD       BlackRock MuniHoldings Fund, Inc.       09253N104 MUH       BlackRock MuniHoldings Fund II, Inc.       09253P109 MFL       BlackRock MuniHoldings Investment Quality Fund       09254P108 MUJ       BlackRock MuniHoldings New Jersey Quality Fund, Inc.       09254X101 MHN       BlackRock MuniHoldings New York Quality Fund, Inc.       09255C106 MUS       BlackRock MuniHoldings Quality Fund, Inc.       09254A101 MUE       BlackRock MuniHoldings Quality Fund II, Inc.       09254C107 MVF       BlackRock MuniVest Fund, Inc.       09253R105 MVT       BlackRock MuniVest Fund II, Inc.       09253T101 MZA       BlackRock MuniYield Arizona Fund, Inc.       09254K109 MYC       BlackRock MuniYield California Fund, Inc.       09254M105 MCA       BlackRock MuniYield California Quality Fund, Inc.       09254N103 MYD       BlackRock MuniYield Fund, Inc.       09253W104 MYF       BlackRock MuniYield Investment Fund       09254R104 MFT       BlackRock MuniYield Investment Quality Fund       09254T100 MIY       BlackRock MuniYield Michigan Quality Fund, Inc.       09254V105 MYJ       BlackRock MuniYield New Jersey Fund, Inc.       09254Y109 MYN       BlackRock MuniYield New York Quality Fund, Inc.       09255E102 MPA       BlackRock MuniYield Pennsylvania Quality Fund       09255G107 MQY       BlackRock MuniYield Quality Fund, Inc.       09254F100 MQT       BlackRock MuniYield Quality Fund II, Inc.       09254G108 MYI       BlackRock MuniYield Quality Fund III, Inc.       09254E103 BQH       BlackRock New York Municipal Bond Trust       09249P106 BSE       BlackRock New York Municipal Income Quality Trust       09249U105 BNY       BlackRock New York Municipal Income Trust       09248L106 BFY       BlackRock New York Municipal Income Trust II       09249R102 BSD       The BlackRock Strategic Municipal Trust       09248T109 BHV       BlackRock Virginia Municipal Bond Trust       092481100            

The amount and timing of any repurchases under each Fund’s Repurchase Program will be determined either at the discretion of the Fund’s management or pursuant to predetermined parameters and instructions subject to market conditions. There is no assurance that any Fund will repurchase shares in any particular amounts. A Fund’s repurchase activity will be disclosed in its shareholder report for the relevant fiscal period. Any repurchases made under any Fund Repurchase Program will be made on a national security exchange at the prevailing market price, subject to exchange requirements and certain volume and timing limitations and other regulations under federal securities laws. Repurchases will not commence for a Fund until after all the required elements of the Repurchase Program for that Fund have been finalized and have become effective, including that the Fund provide necessary disclosure in its next annual or semi-annual shareholder report.

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Availability of Fund Updates

BlackRock will update performance and certain other data for the BlackRock closed-end funds (the “Funds”) on a monthly basis on its website in the “Closed-end Funds” section of www.blackrock.com as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated performance information and the release of other material information about the Funds. This reference to BlackRock’s website is intended to allow investors public access to information regarding the Funds and does not, and is not intended to, incorporate BlackRock’s website in this release.

Forward-Looking Statements

This press release, and other statements that BlackRock or a Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to a Fund’s or BlackRock’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions.

BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

With respect to the Funds, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or 3 financial and capital markets, which could result in changes in demand for the Funds or in a Fund’s net asset value; (2) the relative and absolute investment performance of a Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to a Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock’s ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions.

Annual and Semi-Annual Reports and other regulatory filings of the Funds with the Securities and Exchange Commission (“SEC”) are accessible on the SEC's website at www.sec.gov and on BlackRock’s website at www.blackrock.com, and may discuss these or other factors that affect the Funds. The information contained on BlackRock’s website is not a part of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181115006052/en/

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