BTX: Structural Flaws Cause Underperformance Against Peers (Rating Downgrade)

2026-01-11 21:46:49 ET

Overview

Market indices have been off to a great start in the beginning of the new year. Unfortunately, many income funds have struggled to share the same positive momentum since interest rates remain elevated. For instance, the BlackRock Technology and Private Equity Term Trust ( BTX ) continues to see its share price suppressed, despite providing direct equity exposure to some of the highest quality growth companies in the world. When I previously covered BTX, I issued a hold rating due to the questionable dividend coverage at the time. Since my last coverage, the interest rate environment has shifted a bit, so I wanted to revisit BTX's value proposition as we make our way through the new year....

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