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BlackRock Long-Term Municipal Advantage Trust (BTA)
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Upturn Advisory Summary
01/07/2026: BTA (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type Stock | Historic Profit -4.75% | Avg. Invested days 47 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  3.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 01/07/2026 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 121.23M USD | Price to earnings Ratio 15.55 | 1Y Target Price - |
Price to earnings Ratio 15.55 | 1Y Target Price - | ||
Volume (30-day avg) - | Beta 0.79 | 52 Weeks Range 8.62 - 10.70 | Updated Date 06/29/2025 |
52 Weeks Range 8.62 - 10.70 | Updated Date 06/29/2025 | ||
Dividends yield (FY) 6.59% | Basic EPS (TTM) 0.58 |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 70.85% | Operating Margin (TTM) 81.9% |
Management Effectiveness
Return on Assets (TTM) 2.53% | Return on Equity (TTM) 5.51% |
Valuation
Trailing PE 15.55 | Forward PE - | Enterprise Value 223932112 | Price to Sales(TTM) 11.11 |
Enterprise Value 223932112 | Price to Sales(TTM) 11.11 | ||
Enterprise Value to Revenue 14.92 | Enterprise Value to EBITDA - | Shares Outstanding 13439900 | Shares Floating - |
Shares Outstanding 13439900 | Shares Floating - | ||
Percent Insiders - | Percent Institutions 26.7 |
Upturn AI SWOT
BlackRock Long-Term Municipal Advantage Trust
Company Overview
History and Background
BlackRock Long-Term Municipal Advantage Trust (formerly BlackRock Municipal Bond Trust) was established to provide investors with income exempt from federal income taxes. It is a closed-end fund managed by BlackRock, Inc. Its evolution has focused on adapting to changing interest rate environments and municipal bond market dynamics to maintain its objective of generating tax-exempt income.
Core Business Areas
- Municipal Bond Investing: The Trust's core business is investing in a diversified portfolio of municipal bonds. These bonds are issued by state and local governments and their agencies to finance public projects. The primary goal is to generate current income that is exempt from federal income tax, with a secondary objective of capital appreciation.
Leadership and Structure
The Trust is managed by BlackRock, Inc., a global investment management corporation. The investment decisions are made by a team of portfolio managers with expertise in the municipal bond market. The specific leadership team is detailed in the Trust's annual reports and proxy statements, typically including a Chief Investment Officer and several portfolio managers. As a closed-end fund, it has a Board of Trustees overseeing its operations and acting in the best interests of shareholders.
Top Products and Market Share
Key Offerings
- Long-Term Municipal Bond Portfolio: The primary offering is a portfolio of long-term municipal bonds, aiming for tax-exempt income. The fund holds a diversified portfolio across various sectors such as transportation, education, healthcare, and general obligation bonds. Competitors include other closed-end municipal bond funds and open-end municipal bond ETFs and mutual funds. Specific market share data for individual closed-end funds is not typically disclosed in a way that allows for precise calculation of market share within the broader municipal bond market. However, BlackRock is a significant player in the asset management industry, with substantial assets under management in municipal bond strategies across its various fund offerings.
Market Dynamics
Industry Overview
The municipal bond market is a large and complex sector of the fixed-income market, crucial for financing public infrastructure and services. Key dynamics include interest rate sensitivity, credit quality of issuers, tax policy changes (federal and state), and investor demand for tax-exempt income. The market is influenced by economic conditions, inflation, and fiscal policies of state and local governments. Competition is fierce among fund managers vying for investor capital.
Positioning
BlackRock Long-Term Municipal Advantage Trust is positioned as a provider of tax-exempt income for investors in higher tax brackets. Its association with BlackRock, a major asset manager, provides a degree of brand recognition and access to extensive research capabilities. Its competitive advantages include potentially active management seeking alpha, diversification, and the tax benefits inherent in municipal bonds.
Total Addressable Market (TAM)
The total addressable market for municipal bonds is substantial, representing trillions of dollars in outstanding debt. BlackRock Long-Term Municipal Advantage Trust, as a closed-end fund focused on long-term municipal bonds, targets a segment of this market. Its positioning is within the actively managed, tax-exempt income segment, competing with other funds and individual bond investors seeking similar objectives.
Upturn SWOT Analysis
Strengths
- Managed by BlackRock, a globally recognized asset manager with extensive resources.
- Focus on tax-exempt income, attractive to investors in higher tax brackets.
- Potential for capital appreciation alongside income generation.
- Diversified portfolio across various municipal issuers and sectors.
- Closed-end structure can allow for active management without daily redemption pressures.
Weaknesses
- Interest rate risk associated with long-term bonds.
- Credit risk of municipal issuers.
- Potential for underperformance relative to market benchmarks or expectations.
- Closed-end structure can lead to trading at a premium or discount to Net Asset Value (NAV).
- Limited liquidity in certain municipal bond segments.
Opportunities
- Favorable tax legislation that enhances the attractiveness of municipal bonds.
- Potential for economic growth leading to improved credit quality of municipal issuers.
- Rising interest rates creating opportunities to reinvest at higher yields (though detrimental to existing bond prices).
- Investor demand for stable, tax-advantaged income streams.
- Increased infrastructure spending by governments.
Threats
- Rising inflation and significant interest rate hikes by the Federal Reserve.
- Deterioration in the credit quality of municipal issuers due to economic downturns or fiscal mismanagement.
- Unfavorable changes in tax laws that reduce the tax advantages of municipal bonds.
- Increased competition from other investment vehicles offering similar tax benefits or yield.
- Potential for portfolio concentration risk if certain sectors or issuers face distress.
Competitors and Market Share
Key Competitors
- Nuveen Municipal Value Fund (NUV)
- Invesco Municipal Trust (VKQ)
- Oppenheimer Rochester Municipal Fund (ORR)
- PIMCO High Income Fund (PHK)
- Nuveen New York Value Municipal Fund (NNY)
Competitive Landscape
BlackRock Long-Term Municipal Advantage Trust competes in a crowded space of municipal bond funds, both closed-end and open-end. Its advantages lie in BlackRock's scale, research capabilities, and brand recognition. Disadvantages could arise from specific portfolio management decisions, expense ratios, or the fund's market price trading at a persistent discount or premium, affecting shareholder returns. Competitors often differentiate by their approach to credit selection, duration management, and the specific types of municipal bonds they focus on (e.g., national, state-specific, high-yield).
Growth Trajectory and Initiatives
Historical Growth: Growth for this trust is not measured by top-line revenue growth but by the growth of its Net Asset Value (NAV) and its ability to consistently generate income distributions. Historical trends would show periods of NAV appreciation and depreciation driven by market conditions. The growth of assets under management (AUM) for the fund can also be an indicator of investor confidence.
Future Projections: Future projections for closed-end funds are not typically made by analysts in terms of EPS growth. Instead, expectations focus on the fund's ability to maintain its distribution rate, manage its NAV, and provide competitive tax-exempt yields. Projections are heavily influenced by forecasts for interest rates, inflation, and the broader economic outlook for municipal issuers.
Recent Initiatives: Recent initiatives by BlackRock often involve portfolio adjustments to manage interest rate risk, enhance credit quality, or adapt to market shifts. This could include portfolio rebalancing, changes in the average duration of the bonds held, or adjustments to leverage levels if applicable. BlackRock also periodically reviews its fund offerings for performance and strategic fit.
Summary
BlackRock Long-Term Municipal Advantage Trust is a well-established closed-end fund focused on generating tax-exempt income from municipal bonds, backed by the vast resources of BlackRock. Its strength lies in its experienced management and tax-advantaged offering. However, it faces significant interest rate and credit risks inherent in the bond market and competition from numerous similar funds. To succeed, it must effectively navigate market volatility, maintain strong credit quality in its portfolio, and manage its expense structure to provide competitive shareholder returns.
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Sources and Disclaimers
Data Sources:
- BlackRock Investor Relations (Fund Filings, Prospectus)
- Financial news outlets and data providers (e.g., Bloomberg, Morningstar, Yahoo Finance)
Disclaimers:
This JSON output is generated for informational purposes only and should not be considered investment advice. Investment decisions should be based on thorough research and consultation with a qualified financial advisor. Market share data for closed-end funds is often not precisely defined and may be estimated. Past performance is not indicative of future results. NAV and market price can diverge, impacting total shareholder return.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About BlackRock Long-Term Municipal Advantage Trust
Exchange NYSE | Headquaters New York, NY, United States | ||
IPO Launch date 2006-02-27 | CEO - | ||
Sector Financial Services | Industry Asset Management | Full time employees - | |
Full time employees - | |||
BlackRock Long-Term Municipal Advantage Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc. It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets of the United States. It uses financial derivatives to invest in municipal obligations. The fund primarily invests in long-term municipal bonds with a maturity of more than ten years at the time of investment. BlackRock Long-Term Municipal Advantage Trust was formed on February 28, 2006 and is domiciled in United States.
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