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BlackRock Virginia Municipal Bond Trust
BlackRock Virginia Municipal Bond Trust, a closed-end fund investing in Virginia municipal bonds for tax-exempt income, managed by BlackRock.
BlackRock Virginia Municipal Bond Trust
BlackRock Virginia Municipal Bond Trust operates as a closed-end fund targeting tax-exempt income from Virginia municipal obligations. The fund is managed by BlackRock, the world's largest asset manager, which oversees over $10 trillion in total assets as of 2024. Its portfolio consists of bonds issued by the Commonwealth of Virginia, its political subdivisions, agencies, and instrumentalities. The fund's strategy is to invest at least 80% of its assets in municipal bonds that are exempt from federal and Virginia state income taxes. It employs leveraged structures common to closed-end funds to enhance yield. The fund's holdings are diversified across sectors such as education, healthcare, transportation, and general obligation bonds. BlackRock Virginia Municipal Bond Trust is part of BlackRock's broader municipal closed-end fund family, which includes funds for other states like New York, California, and Massachusetts. The fund is managed by BlackRock's municipal bond team, which had approximately $160 billion in tax-exempt assets under management as of 2024. The fund's shares trade on the NYSE under the ticker BHV. The fund's closed-end structure means investors trade shares on the secondary market, often at a premium or discount to net asset value. This structure allows the fund to use leverage, which amplifies returns but also increases risk. BlackRock provides daily NAV and distribution data on its website.
General information
Firm type
Closed-End Fund
Year founded
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AUM
Undisclosed
Location
Region
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Country
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City
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Corporate office
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Sector focus
Frequently asked questions
What is BlackRock Virginia Municipal Bond Trust's investment objective?
The fund seeks to provide current income that is exempt from federal income tax and Virginia state personal income tax. It invests primarily in investment-grade Virginia municipal bonds.
How does the fund use leverage?
Like many closed-end municipal bond funds, BlackRock Virginia Municipal Bond Trust may use leverage through borrowing or issuing preferred shares to increase potential returns. Leverage amplifies both gains and risks.
What types of bonds does the fund hold?
The fund invests in a range of Virginia municipal obligations, including general obligation bonds, revenue bonds from essential services like water and sewers, and bonds for schools, hospitals, and transportation projects.
What is the tax treatment of distributions?
Distributions from the fund are generally exempt from federal and Virginia state income taxes. However, portions may be subject to the federal alternative minimum tax (AMT) or capital gains taxes. Investors should consult a tax advisor.
How often does the fund pay distributions?
BlackRock Virginia Municipal Bond Trust typically pays monthly distributions. The distribution rate fluctuates based on portfolio income and market conditions.
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