'CEF Mastery' Weekly Published Every Saturday. Free Report Links at Bottom of Page.

The funds (AEF), (FUND), and (TY) are classified as rolling quarterly NAV (RQNAV) funds.

BlackRock Announces Update to BMEZ, BSTZ, and BTX Managed Distribution Plans

The fund (BSTZ) lost it's 'CEF Mastery' qualifying status on August 27, 2025, for the period ending June 30, 2025. It announced its distribution cut on September 10, 2025.

'Divi-X' Splits

Adjusting for Stock Splits in the 'Divi-X' Workbook

In light of OXLC's recent stock split reversal, I thought it would be a good time to post a short tutorial video on YouTube for 'Divi-X' users on how to modify a workbook to account for splits without having to create a new workbook. It's around 5 minutes long.

BDC Scorecard

The BDC Scorecard is free to everyone who subscribes to this newsletter, which is also free. Click on the 'View content' button at the bottom of this page to be redirected to a .pdf download and enjoy.

The fund (BSTZ) just announced a -24.91% distribution cut starting in October 2025. If you notice the footnote on the "'CEF Mastery' Annual Distribution Summary" above, the fund (BSTZ) has been responsible for five of the six 'nonRQNAV' 'CEF Mastery' qualifying fund distribution cuts, but also three distribution increases. Till now, all cuts and increases have been what you would expect from a fund that alternates their payout every single month; kept to a minimum, whether an increase or a decrease.

This current, and quite significant, distribution cut announcements for certain BlackRock funds derived from the annual review of the certain funds 'Managed Distribution' policies, but up until this point, the determination of those reviews was not known until just a couple of days ago with the recent press release dated September 10, 2025.

It is quite fortunate that there appears to be no significant fallout in market price post distribution cuts. Going forward, at least for the current fiscal year, it appears that BlackRock has decided to modify the variable monthly distribution rates for the funds (BMEZ), (BSTZ), and (BTX) to a more consistent distribution amount.

See press release for more details:

BlackRock Announces Update to BMEZ, BSTZ, and BTX Managed Distribution Plans

The 'Divi-X' System High Yield Portfolio Performance

'Divi-X' and 'CEF Mastery' are two distinct and separate programs offered by 'The Dividend Times.' Both programs complement each other considerably well.

This portfolio was created solely for the purpose of this weekly update. It is real money. It is intended for informational purposes only.

Inception date: 07/19/23

Portfolio performance as of today @ 9:36 a.m. Distributions are 'Not' reinvested.

The 'Divi-X' high yield portfolio is an aggressive use of the 'Divi-X' system. There are more conservative uses of the 'Divi-X' system that can have a very satisfying result on your returns as demonstrated in the following video.

The 'Divi-X' System - Dividends on Steroids

The 'Divi-X' system utilizes leverage and can be considered very risky. Use at your own risk! The 'Dividend Times' makes no claim that using the 'Divi-X' system will outperform the market.

See attached portfolio performance download at the bottom of this report. Click on 'View content' to be taken to the download page where you can also download the 'BDC Scorecard' as well.

Pullback Strategy

Whether You're a 'Divi-X' User or Not

When is a Good Time to Buy a Closed End Fund?

I posted in my August 30th newsletter, that I had once again sold my position in MPV after I qualified for the September 12th distribution, ex-date on August 29th (which I received this morning).

I stated that I would put in a 'Pullback' price target of $19.38 at which point I would hope to reacquire those shares back.

On September 10th, the share price of MPV pulled back to a price of $19.28 a share and I was able to get those shares back at a price $0.10 lower than I had hoped to.

In the chart above, I drew thick yellow lines to my entry and exit points in my MPV position since I first acquired it back on February 25th, 2025, of this year. Below is a transaction history of all MPV activity since I purchased it.

Below are my returns when I sold MPV on 08/29/25, 51.99% with 'Divi-X.' But almost equally impressive is the 'w/o Divi-X' returns in purple just to the left. Almost 32% in six months.

Here are my returns after the 'Pullback' purchase on September 10th.

I was out of the position from 08/29/25 to 09/10/25 (twelve days) and picked up nearly an extra eleven percent with yesterday and todays increase in share price. Additionally, the recent 'Pullback' purchase added about another one full percentage point (next month, it will be over one percent) to my yield on cost (YOC).

It's Not Luck

I just want to post a couple more examples to illustrate that this is a deliberate strategy that has worked well for me. All examples are from "The 'Divi-X' High Yield Portfolio." Follow the thick yellow lines.

Just one word of caution. If you exercise this strategy, you have to be prepared to let it go, because once you sell it, there is no guarantee it will come back to you at a reasonable price. That's why it is best to only use this strategy on funds that have already produced returns above your expectations. Case in point, AIO Virtus Artificial Intelligence & Technology Opportunities Fund.

Members that have been with me for a while have heard me talk about the 'Pullback' strategy using AIO as an example many times.

I last sold this position back on June 3, 2025, with a 'Pullback price target of $23.28 short-term (3 months or less), or $22.25 a share long-term (greater than 3 months). To date, no meaningful pullback in price. In my opinion, I require a bigger pullback in price the longer I have to wait to compensate for the lost income while out of the position.

But I have no regrets. At the time of my last sell, I garnered a total return (appreciation, distributions, pullbacks) of nearly 130%, or 39.96% annually (far right green bar). I can live with that.

Please feel free to reach out to me with any questions, comments, or concerns.

Have a wonderful weekend.

Lee

None of the information contained in this newsletter should be construed as financial advice.

If you are a new subscriber, expect the 'CEF Mastery' Weekly Report to come out every Saturday.

Just a reminder that 'ETF Mastery' is free to 'CEF Mastery' subscribers while in its development stage.

If you aren't a subscriber, a free 'CEF Mastery Super Screener and Interactive Report' is available by entering 'Free Report' in the subject line of your email to the address TheDividendTimes@outlook.com.

or

You can receive one free month of reports (weekly) with an annual subscription of just $49.95/yr.

Subscribe @ 'CEF Mastery' Closed-End Fund Subscription (gumroad.com )

'Closed End Fund Mastery' is best viewed in Microsoft Excel (Excel 365 to use charts).

See 'Closed End Fund Mastery' in action. Video links below.

Closed End Fund Mastery 360 - Be Your Own Expert: https://youtu.be/pcbJpROhlSo

‘CEF Mastery’ Introduction – Be A High Yield Master: https://youtu.be/xR9ZmD0LxRM

‘CEF Mastery’ Quick Start 1 – Super Screener - https://youtu.be/-cABQvyVMwI

‘CEF Mastery’ Quick Start 2 – Fund Comparison - https://youtu.be/1GCrtriBQVY

"What Makes the 'Closed End Fund Mastery' Super Screener So Super?' - https://youtu.be/H1AM958Ie_w

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