Toronto-Dominion Investments Ceases 5% Ownership in BlackRock MuniVest Fund II Following Merger
Summary
Toronto-Dominion Investments LLC has filed an amendment to its Schedule 13D, reporting that it ceased to be a beneficial owner of more than 5% of BlackRock MuniVest Fund II, Inc. as a result of the fund's reorganization and merger into BlackRock MuniYield Quality Fund III, Inc.
Key Events
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Cessation of 5% Ownership
Toronto-Dominion Investments LLC and its affiliates ceased to be beneficial owners of more than 5% of BlackRock MuniVest Fund II, Inc.'s Variable Rate Muni Term Preferred Shares.
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Reorganization Impact
The change in ownership resulted from the reorganization of BlackRock MuniVest Fund II, Inc. into BlackRock MuniYield Quality Fund III, Inc. on February 23, 2026.
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Share Exchange
Toronto-Dominion Investments LLC exchanged its 777 Variable Rate Muni Term Preferred Shares of the Issuer for an equal number of Variable Rate Demand Preferred Shares of BlackRock MuniYield Quality Fund III, Inc.
Analysis
This Schedule 13D/A provides an update on Toronto-Dominion Investments LLC's stake in BlackRock MuniVest Fund II, Inc. The filing confirms that as of February 23, 2026, following the reorganization and merger of BlackRock MuniVest Fund II into BlackRock MuniYield Quality Fund III, Toronto-Dominion Investments LLC exchanged its Variable Rate Muni Term Preferred Shares for shares in the acquiring entity. Consequently, the reporting persons no longer beneficially own more than five percent of the class of securities of BlackRock MuniVest Fund II. This filing finalizes the reporting of their exit from the fund due to the corporate action, which was previously disclosed in a 425 filing on February 23, 2026.
At the time of this filing, MVT was trading at $11.00 on NYSE in the Unknown sector, with a market capitalization of approximately $229.4M. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.