Return of Capital

BlackRock Health Sciences Term Trust (BMEZ), BlackRock Science and Technology Term Trust (BSTZ), and BlackRock Technology and Private Equity Term Trust (BTX) will shift from floating to fixed-rate distributions in October 2025. This aims to provide predictable income, stabilize payouts and maintain competitive yields. The change reflects concerns about distribution sustainability and a desire to manage capital effectively. Distribution amounts remain subject to board discretion. Performance should not be evaluated solely on distribution amounts. Investors should consult BlackRock’s website for fund updates.

Saba Capital Income & Opportunities Fund II (SABA) announced the breakdown of its August 29th distribution of $0.058 per share. As of August 22nd, 36.14% is net investment income and 63.86% is return of capital. Fiscal year-to-date, 42.50% is net investment income, and 57.50% is return of capital. SABA cautions against drawing conclusions from distribution figures, as a significant portion is return of capital. The fund targets a $0.058/share monthly distribution, but this is subject to change. Investors should review SEC filings for risk factors.

Saba Capital Income & Opportunities Fund II (SABA) announced the composition of its July 31, 2025 distribution, in accordance with SEC regulations. The distribution of $0.058 per share is comprised of $0.04284 (73.87%) net investment income and $0.01516 (26.13%) return of capital. Year-to-date, distributions total $0.464 per share, with $0.179 (38.58%) from net investment income and $0.285 (61.42%) from return of capital. Investors are advised not to equate distribution amounts with fund performance. Saba Capital Management, L.P. is now the investment advisor.