BGT - Lots Of Distribution Cuts From BlackRock CEFs
Lots of Distribution Cuts from BlackRock CEFs And Some Interesting Raises
BlackRock announced July distributions for its closed-end funds on Monday. The list has 20 cuts and 4 raises. Eighteen of the cuts were in municipal bond funds: eight state-specific funds and ten national funds. The other cuts hit the taxable municipal bond fund and one equity fund.
Putting this in perspective, BlackRock announced distribution for a total of 73 funds, 27% of them were cut, only 5.5% had raises. BlackRock's slate of national municipal-bond CEFs had 37.5% of the funds hit by cuts, and