-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, N9Be9KAB7xhbx+KW9U70N/tmDRy/vVZ+nRqF6QgYGJun1pags6x+x7nXqKEBM1o3 m20y83lMFlxbF9ySmigFFQ== 0001048703-06-000017.txt : 20060111 0001048703-06-000017.hdr.sgml : 20060111 20060111104350 ACCESSION NUMBER: 0001048703-06-000017 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20060111 DATE AS OF CHANGE: 20060111 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: KARPUS MANAGEMENT INC CENTRAL INDEX KEY: 0001048703 IRS NUMBER: 161290550 STATE OF INCORPORATION: NY FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 14 TOBEY VILLAGE OFFICE PARK CITY: PITTSFORD STATE: NY ZIP: 14534 BUSINESS PHONE: 7165864680 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK MUNICIPAL TARGET TERM TRUST INC CENTRAL INDEX KEY: 0000877358 IRS NUMBER: 133624797 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-61081 FILM NUMBER: 06523866 BUSINESS ADDRESS: STREET 1: 100 BELLEVUE PARKWAY STREET 2: MUTUAL FUND DEPARTMENT CITY: WILMINGTON STATE: DE ZIP: 19809 BUSINESS PHONE: 888-825-2257 MAIL ADDRESS: STREET 1: 100 BELLEVUE PARKWAY STREET 2: MUTUAL FUND DEPARTMENT CITY: WILMINGTON STATE: DE ZIP: 19809 FORMER COMPANY: FORMER CONFORMED NAME: BLACKSTONE MUNICIPAL TARGET TERM TRUST INC DATE OF NAME CHANGE: 19600201 SC 13D/A 1 bmn01-06.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment 1) BlackRock Municipal Target Term Trust (BMN) (Name of Issuer) Common Stock (Title of Class of Securities) 09247m105 (CUSIP Number) George W. Karpus, President Karpus Management, Inc. d/b/a Karpus Investment Management 183 Sullys Trail Pittsford, New York 14534 (585) 586-4680 (Name, Address, and Telephone Number of Person Authorized to Receive Notices and Communications) January 9, 2006 (Date of Event which requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is subject of this Schedule 13D, and if filing this schedule because of Rule 13d-1(b) (3) or (4), check the following box. [ ] (Page 1 of 5 pages) ITEM 1 Security and Issuer Common Stock BlackRock Municipal Target Term Trust BlackRock Financial Management L.P. 100 Bellevue Parkway Wilmington, DE 19809 ITEM 2 Identity and Background a) Karpus Management, Inc., d/b/a Karpus Investment Management (?KIM?) George W. Karpus, President, Director, and controlling stockholder JoAnn Van Degriff, Vice President and Director Sophie Karpus, Director b) 183 Sullys Trail Pittsford, New York 14534 c) Principal business and occupation - Investment Management for individuals, pension, and profit sharing plans, corporations, endowments, trust, and others, specializing in conservative asset management (i.e. fixed income investments). d) None of George W. Karpus, Jo Ann Van Degriff or Sophie Karpus (?the Principals?) or KIM has been convicted in the past 5 years of any criminal proceeding (excluding traffic violations). e) During the last 5 years none of the Principals or KIM has been a party to a civil proceeding as a result of which any of them is subject to a judgment, decree, or final order enjoining future violations of or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. f) Each of the Principals is a United States citizen. KIM is a New York corporation. ITEM 3 Source and Amount of Funds or Other Considerations KIM, an independent investment advisor, has accumulated 2,656,950 shares of BMN on behalf of accounts that are managed by KIM (?the Accounts?) under limited powers of attorney, which represents 5.85% of the outstanding shares. All funds that have been utilized in making such purchases are from such Accounts. ITEM 4 Purpose of Transaction KIM has purchased Shares for investment purposes. Being primarily a conservative, fixed income manager, with a specialty focus in the closed end fund sector, the profile of BMN fit the investment guidelines for various Accounts. Shares have been acquired since June 27, 1999. ITEM 5 Interest in Securities of the Issuer a) As of the date of this Report, KIM owns 3,341,475 shares, which represent 7.40% of the outstanding shares. Jo Ann Van Degriff presently owns 8,170 shares purchased December 16, 2004 at $10.33 per share (180 shares), December 17 at $10.31 (220 shares), December 20 at $10.34 (300 shares), December 21, 22, 23, and 28 at $10.35 (400 shares), June 28, 2005 at $10.16 (1000 shares), June 29 at $10.17 (150 shares), August 9 at $10.08 (350 shares), August 12, 15, 16,and 17 at $10.06 (950 shares), August 18 at $10.07 (200 shares), August 19, 23, and 24 at $10.05 (400 shares), August 22 at $10.06 (100 shares), August 30 at $10.04 (50 shares), August 31 at $10.07 (100 shares), September 7 and 9 at $10.07 (150 shares), September 8, 13, and 15 at $10.06 (350 shares), September 16, 19, 20, and 21 at $10.04 (550 shares), September 22, 23, and 26 at $10.03 (530 shares), October 11 and 25 at $10.03 (340 shares), October 12, 17, and 20 at $10.00 (800 shares), October 14 and 18 at $9.99 (200 shares), November 16 at $9.98 (700 shares), and November 17 and 18 at $9.95 (150 shares). Karpus Management, Inc. presently owns 10950 shares purchased on December 14, 15, and 16, 2004 at $10.33 (460 shares), December 17 at $10.31 (140 shares), December 20 and 21 at $10.34 (300 shares), December 22, 23, and 28 at $10.35 (300 shares), July 18, 19, and 20 at $10.13 (1100 shares), July 21 at $10.12 (300 shares), July 22, 28, and 29 at $10.11 (300 shares), August 1 and 4 at $10.10 (200 shares), August 2 and 3 at $10.11 (600 shares), August 10 at $10.09 (200 shares), August 16 at $10.06 (200 shares), August 18 and 31 at $10.07 (200 shares), August 23 and 24 at $10.05 (300 shares), August 30 at $10.04 (50 shares), September 7 and 9 at $10.07 (100 shares), September 8, 13, 15 at $10.06 (350 shares), September 16, 19, 20, 21, and 29 at $10.04 (650 shares), September 22, 23, 26, and 28 at $10.03 (650 shares), September 27 at $10.02 (300 shares), October 4 at $10.05 (500 shares), October 5 at $10.04 (200 shares), October 6 at $10.02 (200 shares), October 31 at $10.00 (100 shares), November 4 at $9.99 (200 shares), November 8 at $10.01 (100 shares), and November 15 at $9.97 (500 shares), December 9, 2005 at $ 9.90 (2050 shares), December 13, 2005 at 9.89 (400 shares).None of the other Principals of KIM currently owns shares of BMN. b) KIM has the sole power to dispose of and to vote all such Shares under limited powers of attorney. c) Below are the open market purchases in the last 60 days for the Accounts. There have been no dispositions and no acquisition, other than by such open market purchases, during such period. Date Shares Price Per Date Shares Price Per Share Share 11/4/2005 25550 9.99 12/1/2005 1450 9.98 11/7/2005 24000 10 12/2/2005 78750 9.97 11/8/2005 27500 10.01 12/5/2005 1900 9.96 11/9/2005 7000 9.99 12/6/2005 44000 9.97 11/10/2005 55600 9.96 12/7/2005 35500 9.94 11/11/2005 2000 9.97 12/8/2005 15400 9.90 11/14/2005 5000 9.98 12/9/2005 90000 9.90 11/15/2005 51500 9.97 12/12/2005 28300 9.89 11/16/2005 46400 9.98 12/13/2005 38750 9.89 11/17/2005 5700 9.95 12/14/2005 41500 9.89 11/18/2005 5600 9.95 12/15/2005 16000 9.89 11/21/2005 47300 9.95 12/16/2005 48600 9.89 11/22/2005 71500 9.96 12/19/2005 13400 9.88 11/23/2005 7420 9.95 12/20/2005 67820 9.88 11/25/2005 3500 9.96 12/21/2005 29630 9.87 11/28/2005 1400 9.96 12/22/2005 24100 9.88 11/29/2005 24000 9.96 12/23/2005 24400 9.88 11/30/2005 10550 9.95 12/27/2005 1600 9.87 12/28/2005 1900 9.88 12/29/2005 27050 9.89 12/30/2005 - -8700 9.90 12/30/2005 18500 9.90 The Accounts have the right to receive all dividends from, and any proceeds from the sale of the Shares. None of the Accounts has an interest in Shares constituting more than 5% of the Shares outstanding. ITEM 6 Contracts, Arrangements, Understandings, or Relationships with Respect to Securities of the Issuer Except as described above, there are no contracts, arrangement, understandings or relationships of any kind among the Principals and KIM and between any of them and any other person with respect to any of the BMN securities. ITEM 7 Materials to be Filed as Exhibits Not applicable Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Karpus Management, Inc. January 9, 2006 By: _________________________ Date Signature Dana R. Consler, Senior Vice President Name /Title -----END PRIVACY-ENHANCED MESSAGE-----