TD Group Exits BlackRock MuniVest Fund Preferred Shares Amidst Fund Reorganization

summarizeSummary

TD Group has ceased to be a beneficial owner of Variable Rate Muni Term Preferred Shares in BlackRock MuniVest Fund, exchanging them for shares in BlackRock MuniYield Quality Fund III as part of a fund reorganization.

check_boxKey Events

• Fund Reorganization

  BlackRock MuniVest Fund, Inc. has reorganized into BlackRock MuniYield Quality Fund III, Inc. (MYI) as of February 23, 2026.

• Preferred Share Exchange

  Toronto Dominion Investments LLC (TD Group) exchanged its 1,536 Variable Rate Muni Term Preferred Shares of BlackRock MuniVest Fund for an equal number of shares in the new BlackRock MuniYield Quality Fund III.

• Cessation of Ownership

  As a result of the reorganization, TD Group ceased to be a beneficial owner of more than five percent of the preferred shares in BlackRock MuniVest Fund.

auto_awesomeAnalysis

This Schedule 13D/A reports that Toronto Dominion Investments LLC and its affiliates (TD Group) no longer hold Variable Rate Muni Term Preferred Shares (VMTP Shares) in BlackRock MuniVest Fund, Inc. The change in ownership stems from a reorganization of BlackRock MuniVest Fund into BlackRock MuniYield Quality Fund III, Inc. (MYI) on February 23, 2026. As part of this reorganization, TD Group exchanged its 1,536 VMTP Shares of BlackRock MuniVest Fund for an equal number of Variable Rate Demand Preferred Shares in MYI. This marks a significant change in the capital structure and major preferred shareholder base of BlackRock MuniVest Fund, reflecting a broader strategic shift for the fund. Investors should monitor further details regarding the reorganization and its implications for the fund's future.