BlackRock MuniVest Fund II, Inc. (MVT)

BlackRock MuniVest Fund II was a leveraged closed-end fund that invested mainly in long-term municipal bonds whose interest is exempt from federal income tax. It sought high current tax-exempt income for shareholders, using preferred shares and other forms of leverage to increase its yield. The fund began trading on the New York Stock Exchange in March 1993 and was managed by BlackRock after its merger with Merrill Lynch Investment Managers.

Like many municipal closed-end funds, MVT often traded at a discount to its net asset value, particularly after interest rates rose sharply in 2022 and raised its borrowing costs. BlackRock responded across its closed-end lineup with tender offers, distribution changes and a program of consolidating smaller funds with similar strategies.

In June 2025 the boards approved reorganizing MVT, BlackRock MuniVest Fund (MVF) and another fund into BlackRock MuniYield Quality Fund III (MYI), with MYI as the surviving fund. Shareholders of MVT approved the plan, and the reorganization was completed in the first quarter of 2026. MVT shareholders received MYI shares based on the relative net asset values of the two funds, and MVT's shares were removed from the NYSE.