BlackRock Closed-End Funds have Repurchased approximately $1.3 Billion of Shares since the Share Repurchase Program’s Inception
BlackRock Energy and Resources Trust (BGR)
US:NYSE Investor Relations:
blackrock.com/investing/products/240226/blackrock-energy-and-resources-trust-fund
Company Research
Source: Business Wire
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 December 31, 2023. The Funds have authorized open market share repurchase programs (the “Repurchase Programs”) pursuant to which each Fund may repurchase, through November 30, 2024, up to 5% of its outstanding common shares in open market transactions. The Repurchase Programs seek to enhance shareholder value by purchasing Fund shares trading at a discount from their net asset value (“NAV”) per share, which could result in incremental accretion to a Fund’s NAV.Since the initial Repurchase Program’s inception in 2016, BlackRock has repurchased approximately $1.3 billion in shares across the closed-end fund (“CEF”) complex, leading to approximately $203 million in NAV accretion.BlackRock repurchased approximately $116 million in shares across the entire CEF complex in the fourth quarter, leadin
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