SCHEDULE: JPMorgan, DNT Trust Exit BlackRock Muni Income Trust

JPMorgan Chase & Co. and DNT Asset Trust report ceasing beneficial ownership in BlackRock Municipal Income Trust following a reorganization.

Summary

• JPMorgan Chase & Co. (JPMC) and DNT Asset Trust (DNT Trust), collectively the Reporting Persons, filed Amendment No. 1 to their Schedule 13D.
• The amendment reports a change in their beneficial ownership of Variable Rate Muni Term Preferred Shares (Preferred Shares) of BLACKROCK MUNICIPAL INCOME TRUST (the Issuer).
• This change resulted from the reorganization of the Issuer into BlackRock MuniHoldings Fund, Inc. (MHD) on February 9, 2026.
• In connection with the reorganization, DNT Trust exchanged its 1,541 VRDP Shares of the Issuer (CUSIP No. 09263Q204) for an equal number of Variable Rate Muni Term Preferred Shares of MHD (CUSIP No. 09253N609).
• As a direct consequence of this exchange and reorganization, the Reporting Persons no longer own any Preferred Shares of BLACKROCK MUNICIPAL INCOME TRUST.
• The Reporting Persons ceased to be the beneficial owner of more than five percent of the class of securities on 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. It is a factual report of a completed corporate reorganization and the resulting change in beneficial ownership, rather than an event with inherent positive or negative implications for the reporting persons or the issuer's operational performance.

Future Outlook

The filing does not contain forward-looking statements or guidance, as it reports a completed transaction.

Industry Context

StockSavvy.ai notes that reorganizations and mergers are common events in the closed-end fund industry, often aimed at optimizing fund structures, reducing expenses, or achieving economies of scale. The exchange of shares for an equivalent class in the successor fund is a standard procedure in such transactions, ensuring continuity for shareholders.

Stakeholder Impact

• Shareholders of BLACKROCK MUNICIPAL INCOME TRUST (specifically DNT Trust) have had their shares exchanged for shares in BlackRock MuniHoldings Fund, Inc., maintaining their investment in a reorganized entity.
• The original issuer, BLACKROCK MUNICIPAL INCOME TRUST, no longer has JPMorgan Chase & Co. and DNT Asset Trust as beneficial owners of its Preferred Shares.

Key Dates

Keywords

Schedule 13D/A, Beneficial Ownership, JPMorgan Chase & Co., DNT Asset Trust, BlackRock Municipal Income Trust, BlackRock MuniHoldings Fund, Reorganization, Preferred Shares, VRDP Shares, Divestment