BlackRock Municipal Income Fund (MUI) has delisted from the NYSE as part of its conversion from an exchange-listed closed-end fund to an unlisted continuously-offered closed-end fund. The fund will operate as BlackRock Municipal Credit Alpha Portfolio following the conversion, which is scheduled for March 21, 2025.
The converted fund will function as an interval fund, offering quarterly share repurchases between 5% and 25% of outstanding shares, with the initial repurchase offer planned for Q2 2025. Existing MUI shares will be redesignated as Institutional Shares of the interval fund. Important to note, these shares won’t be listed on any exchange, and no secondary market is expected to develop, making this an illiquid investment.
Shareholders should be aware that repurchase offers may be oversubscribed, leading to pro-rata share repurchases. Not all financial intermediaries will…
