2024-03-08 17:51:24 ET
Summary
- BSTZ invests across tech stocks and private companies.
- The fund has underperformed sector benchmarks over the last several years and trades at a deep discount to NAV.
- Despite a 7% distribution yield, we're skeptical that BSTZ will realize its potential of harvesting significant value from its PE holdings.
The BlackRock Science and Technology Term Trust ( BSTZ ) has underperformed sector benchmarks and peer equity closed-end funds ((CEFs)) over the past several years. A large part of that may be explained by the fund's unique strategy of investing across both publicly traded stocks and privately held companies....
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For further details see:
BSTZ: Private Equity Exposure Remains A Liability