BlackRock Enhanced Government Fund Announces Upcoming Repurchase Offer; Offering To Purchase Up To 5% Of Its Shares At An Amount Per Share Equal To Fund's Net Asset Value
Portfolio Pulse from Benzinga Newsdesk
BlackRock Enhanced Government Fund (EGF) has announced an upcoming repurchase offer, planning to purchase up to 5% of its shares at an amount per share equal to the fund's net asset value.
October 06, 2023 | 8:32 pm
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BlackRock Enhanced Government Fund's announcement of a repurchase offer could potentially increase the demand for its shares, leading to a short-term increase in its stock price.
Share repurchase offers often lead to an increase in the stock price as they reduce the number of shares available in the market, thereby increasing the demand for the remaining shares. In this case, EGF is offering to buy back up to 5% of its shares, which could lead to a significant increase in demand and a corresponding increase in the stock price.
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