SCHEDULE: Sit Investment Associates Discloses 5.2% Stake in BlackRock MuniVest Fund II

Sit Investment Associates, Inc. and its subsidiary, Sit Fixed Income Advisors II, LLC, have reported a 5.2% beneficial ownership stake in BlackRock MuniVest Fund II, Inc. as of September 30, 2025.

Summary

• Sit Investment Associates, Inc. and Sit Fixed Income Advisors II, LLC jointly reported beneficial ownership of 1,080,016 shares of BlackRock MuniVest Fund II, Inc. common stock.
• This represents 5.2% of the outstanding common stock, calculated based on 20,861,423 shares outstanding as of January 31, 2025, as reported in the Issuer's Form N-CSRS.
• The reporting persons hold these shares with shared voting power and shared dispositive power.
• The securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.
• Both Sit Investment Associates, Inc. and Sit Fixed Income Advisors II, LLC are registered investment advisers.

Sentiment

Score: 5

Explanation: Neutral, as this is a routine beneficial ownership disclosure (Schedule 13G) indicating a passive investment, with no explicit positive or negative operational news for the issuer.

Positives

• The investment is held in the ordinary course of business, indicating a passive and routine investment strategy.
• The filing confirms a significant institutional investor's stake in BlackRock MuniVest Fund II, Inc., potentially signaling confidence in the fund.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the issuer's future performance or the reporting persons' future investment intentions beyond the current passive holding.

Management Comments

• "We certify that, to the best of our 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."

Industry Context

This filing reflects a standard disclosure by an investment adviser, Sit Investment Associates, Inc., and its subsidiary, Sit Fixed Income Advisors II, LLC, regarding their passive ownership stake in a closed-end fund managed by BlackRock. Such disclosures are common for institutional investors crossing the 5% ownership threshold, indicating a routine investment in the fund's common stock.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder, potentially signaling confidence in the fund.
• Management: Awareness of a large passive institutional investor in the fund.

Key Dates

Keywords

BlackRock MuniVest Fund II, Sit Investment Associates, Sit Fixed Income Advisors, Schedule 13G, Beneficial Ownership, Common Stock, Investment Adviser, Institutional Ownership, Closed-End Fund