JPMorgan Chase & Co. Fully Exits Preferred Share Position in BlackRock Munivest Fund
Summary
JPMorgan Chase & Co. and DNT Asset Trust have sold all their Variable Rate Muni Term Preferred Shares in BlackRock Munivest Fund, Inc., ceasing to be beneficial owners of more than 5% of the class.
Key Events
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Full Divestment of Preferred Shares
JPMorgan Chase & Co. and DNT Asset Trust sold all their Variable Rate Muni Term Preferred Shares in an open market transaction on February 19, 2026, at a price of $100,173.12 per share.
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Cessation of Significant Ownership
As a result of the sale, the Reporting Persons no longer own any Preferred Shares and ceased to be beneficial owners of more than five percent of the class of securities.
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Termination of Arrangements
All voting and financing arrangements related to the Preferred Shares have been terminated following the disposition.
Analysis
This Schedule 13D/A reports that JPMorgan Chase & Co. and DNT Asset Trust, previously significant holders, have fully divested their entire position in the Variable Rate Muni Term Preferred Shares of BlackRock Munivest Fund, Inc. This complete exit by a major institutional investor from a class of the fund's securities represents a notable change in its capital structure and institutional interest.
At the time of this filing, MVF was trading at $7.07 on NYSE in the Finance sector, with a market capitalization of approximately $405.4M. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.