SCHEDULE 13G/A: Morgan Stanley Discloses 13% Stake in BlackRock 2037 Municipal Target Term Trust

Morgan Stanley and its subsidiary, Morgan Stanley Smith Barney LLC, have filed an amended Schedule 13G, disclosing a beneficial ownership of 13.0% in BlackRock 2037 Municipal Target Term Trust.

Summary

• Morgan Stanley and its wholly-owned subsidiary, Morgan Stanley Smith Barney LLC, have filed an Amendment No. 3 to Schedule 13G.
• The filing reports beneficial ownership of Common Shares of Beneficial Interest in BlackRock 2037 Municipal Target Term Trust.
• As of March 31, 2025, the reporting persons collectively beneficially own 799,456 shares.
• This aggregate amount represents 13.0% of the class of securities.
• Morgan Stanley Smith Barney LLC holds shared voting power over 705 shares and shared dispositive power over 799,456 shares.
• Morgan Stanley, as the parent holding company, reports the same beneficial ownership figures.
• The filing indicates that the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 5

Explanation: The document is a factual disclosure of beneficial ownership and does not contain information that would inherently lead to a positive or negative sentiment regarding the issuer's performance or outlook.

Future Outlook

NA

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11." (Certification by Morgan Stanley and Morgan Stanley Smith Barney LLC)

Industry Context

This filing is a standard disclosure of significant beneficial ownership by a major financial institution (Morgan Stanley) in a specific investment trust (BlackRock 2037 Municipal Target Term Trust). It reflects a passive investment stake rather than a strategic industry move or competitive positioning.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional ownership stake in the trust, which can influence market perception and liquidity.

Key Dates

Keywords

Morgan Stanley, BlackRock 2037 Municipal Target Term Trust, Schedule 13G, Beneficial Ownership, Common Shares of Beneficial Interest, Investment Management, SEC Filing, Institutional Ownership, Municipal Bonds