BlackRock said it has completed a set of municipal closed-end fund reorganizations that consolidated six funds into three “survivor” funds. BlackRock MuniYield Quality Fund, Inc. (MQY) absorbed BlackRock MuniYield Fund, Inc. (MYD), BlackRock MuniYield Quality Fund II, Inc. (MQT) and BlackRock Investment Quality Municipal Trust, Inc. (BKN), with share exchanges based on relative net asset values as of Feb. 20, 2026 and cash paid in lieu of fractional shares. BlackRock also said MQY and the other survivor funds adopted a 2026 discount management program that could trigger a tender offer if shares trade at an average discount to NAV of more than 10% during the Jan. 1–Sept. 30 measurement period.

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