BlackRock Announces Board Approvals Seeking to Deliver Significant Scale Benefits to Municipal CEF Shareholders
Written by Emily J. Thompson, Senior Investment Analyst
Source: Newsfilter
Reorganizations Announced: BlackRock Advisors has announced the approval of multiple reorganizations and mergers involving several closed-end funds, consolidating sixteen municipal funds into six acquiring funds, with a shareholder meeting scheduled for October 15, 2025.
Investor Information: The press release emphasizes that detailed information regarding the reorganizations will be provided in a forthcoming Proxy Statement and Proxy Statement/Prospectus, which investors are urged to read carefully once available.
Analyst Views on BFZ
Wall Street analysts forecast BFZ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BFZ is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About BFZ
BlackRock California Municipal Income Trust (the Trust) is a closed-end management investment company. The Trust's investment objective is to provide current income exempt from regular United States federal income and California income taxes. The Trust seeks to achieve its investment objective by investing primarily in municipal obligations exempt from United States federal income taxes (except that the interest may be subject to the federal alternative minimum tax) and California income taxes. The Trust invests approximately 80% of its assets in municipal obligations that are investment-grade quality. The Trust may invest directly in such securities or synthetically through the use of derivatives. The Trust invests in various sectors, including health, utilities, transportation, education, housing, state, tobacco and corporate. The Trust's investment advisor is BlackRock Advisors, LLC.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
