SCHEDULE: JPMorgan, DNT Trust Exit BlackRock Muni Income II

JPMorgan Chase & Co. and DNT Asset Trust have ceased beneficial ownership in BlackRock Municipal Income Trust II following its reorganization into BlackRock MuniHoldings Fund, Inc.

Summary

• JPMorgan Chase & Co. and DNT Asset Trust (collectively, the "Reporting Persons") filed Amendment No. 1 to their Schedule 13D.
• The amendment reports the cessation of beneficial ownership in Variable Rate Muni Term Preferred Shares (CUSIP No. 09249N705) of BLACKROCK MUNICIPAL INCOME TRUST II (the "Issuer").
• This change occurred due to the reorganization of the Issuer into BlackRock MuniHoldings Fund, Inc. ("MHD") on February 9, 2026.
• In connection with the reorganization, DNT Asset Trust exchanged its 1,741 VRDP Shares of the Issuer for an equal number of Variable Rate Muni Term Preferred Shares of MHD (CUSIP No. 09253N609).
• As a result, the Reporting Persons no longer own any Preferred Shares of the Issuer and ceased to be beneficial owners of more than five percent of the class of securities as of February 9, 2026.
• All voting and financing arrangements related to the Issuer's Preferred Shares have been terminated.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it is a procedural update reporting a completed corporate reorganization and the subsequent cessation of beneficial ownership, rather than new operational performance or strategic initiatives.

Future Outlook

This filing does not contain any forward-looking statements or guidance, as it reports a completed corporate action and change in beneficial ownership.

Industry Context

StockSavvy.ai notes that fund reorganizations, such as the merger of BlackRock Municipal Income Trust II into BlackRock MuniHoldings Fund, Inc., are common occurrences in the asset management industry, often aimed at optimizing fund structures, reducing overhead, or consolidating similar investment strategies. Such events necessitate updated beneficial ownership filings like this Schedule 13D/A to reflect the transfer of securities and the termination of previous ownership stakes.

Stakeholder Impact

• DNT Asset Trust, as a shareholder, exchanged its 1,741 Variable Rate Muni Term Preferred Shares of BlackRock Municipal Income Trust II for an equal number of shares in the successor entity, BlackRock MuniHoldings Fund, Inc., maintaining its investment in a BlackRock municipal fund.
• JPMorgan Chase & Co., as the parent entity of DNT Asset Trust, no longer indirectly holds beneficial ownership in BlackRock Municipal Income Trust II.

Key Dates

Keywords

JPMorgan Chase & Co., DNT Asset Trust, BlackRock Municipal Income Trust II, BlackRock MuniHoldings Fund Inc., Schedule 13D/A, Beneficial Ownership, Corporate Reorganization, Preferred Shares, Muni Term Preferred Shares, SEC Filing