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BST - Recent Distribution Cuts Among Closed-End Funds
BlackRock Science and Technology Trust of Beneficial Interest
As is customary on the first of the month, fund sponsors announced their distributions for the next pay period. We go through these very quickly given the inefficiencies of the CEF market- it often takes days before the market really recognizes the cut and prices it into the fund. Most of the cuts were relegated to the muni space, as usual, so we spend a lot of time on this report on the tax free bond sector.
Overall, in this month's distribution announcement day, we saw 6 funds announce a distribution increase (of more than