This article discusses the recent changes to BlackRock's BIGZ, a tech-focused closed-end fund (CEF), in response to activist pressure. It compares BIGZ to other BlackRock CEFs focused on tech, BSTZ and BST, highlighting their different investment strategies and performance. The article delves into the reasons behind BIGZ's underperformance and the measures taken by BlackRock, including a new management team, a tightened investment mandate, and a share buyback program.
) is making changes to some of its highest-yielding funds. Today we’re going to zero in on a 13%-yielder that’s at the center of the action: the tech-focusedYes, the fund focused on tech. So the pullback in American AI stocks on news that Chinese AI chatbot DeepSeek, which was launched earlier this month, can rival the latest version of Open AI’s ChatGPT, factors in here, too.
For one, BIGZ will get a new management team and a new mandate tightening its focus on tech. You can read more about those changes here. The risk here is that, if BIGZ’s NAV drops before an investor can redeem their shares, they might end up redeeming them for less. But in that case, they could simply ignore the redemption and keep collecting BIGZ’s 13% dividend—provided the fund’s new management keeps earning enough profits to maintain that payout.One thing we do NOT want to do now is let something like a cheaper AI chatbot from China scare us out of the field entirely.
BLACKROCK CEF BIGZ BSTZ BST ACTIVIST INVESTORS TECH INVESTING AI SHARE BUYBACK
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