BlackRock Long-Term Municipal Advantage Trust(BTA)

$9.72—

Chart

BlackRock Long-Term Municipal Advantage Trust(BTA)

NYSE

$9.72—

Chart Studio

BTA(BTA)

BTA

Overview Notebook Intelligence Chart History Fundmntls TTM Earnings Analysts News Financials Segments Insiders Institl.DCF Peers

7/8/26

BLACKROCK LONG-TERM MUNICIPAL ADVANTAGE TRUST (BTA)

Wednesday

2:31 AM

Thesis: BlackRock Long-Term Municipal Advantage Trust: the story is balanced — 10-year Treasury yield movements - long-duration municipal bonds have high interest rate sensitivity (estimated duration…

Revenue Outlook

Metric	FY2023	FY2024
Revenue	$16M	$11M
Rev. Growth	+603%	-33.5%
EPS	$0.89	$-0.65
EPS Growth	+456%	-173%
P/E	10.9×	—

What Moves the Stock

110-year Treasury yield movements - long-duration municipal bonds have high interest rate sensitivity (estimated duration 12-18 years)
2Municipal credit spreads relative to Treasuries - tightening spreads increase NAV, widening spreads compress valuations
3Premium/discount to NAV - CEF shares trade at market prices that can deviate 5-15% from underlying portfolio value
4Federal and state tax policy changes affecting municipal bond demand and tax-exempt status
5State and local government fiscal health - credit quality concerns in specific states (Illinois, New Jersey, Connecticut) impact portfolio valuations
6Tax-exempt interest income from municipal bonds (estimated 85-90% of gross income)
7Capital gains from bond trading and portfolio repositioning (10-15% of income)
8Leverage amplification through borrowing at short-term rates to invest in long-duration munis

FY2024 Snapshot

Revenue: $11M
Rev. Growth: -33.5%
Gross Margin: 81.9%
Op. Margin: -53.3%
Net Margin: -82.7%
Net Income: $-9M
NI Growth: -173%
EPS: $-0.65
1Y Return: +3.8%

BTA Chart

My Notes

dividend/income - The fund targets high-net-worth investors in top tax brackets (37% federal plus state taxes) seeking tax-exempt monthly…
Very high negative sensitivity to rising rates.
Watch on earnings: 10-year Treasury yield (GS10) - primary driver of long-duration municipal bond valuations, 2-year/10-year yield curve spread (T10Y2Y) - impacts cost of leverage versus portfolio yield, Municipal bond credit spreads versus Treasuries - not directly available in FRED but proxied by high-yield spreads.

One Sentence Summary:

BlackRock Long-Term Municipal Advantage Trust: the story is balanced — 10-year treasury yield movements - long-duration municipal bonds have high interest rate sensitivity (estimated duration 12-18 years).

Auto-composed from Stock Alarm intelligence, financial statements, and analyst estimates. Not investment advice.

Writing up the research note…

First read for a new ticker takes about 20–30 seconds while we build the analysis from the latest fundamentals, estimates, and intelligence. It's saved after this, so future visits are instant.

Explore More

S&P 500 Screener

Filter and sort all 500 stocks

Market Movers

Today's biggest gainers and losers

Market Heatmap

Visual sector performance

Metric

FY2023

FY2024

P/E

10.9×

—

What Moves the Stock

110-year Treasury yield movements - long-duration municipal bonds have high interest rate sensitivity (estimated duration 12-18 years)

2Municipal credit spreads relative to Treasuries - tightening spreads increase NAV, widening spreads compress valuations

3Premium/discount to NAV - CEF shares trade at market prices that can deviate 5-15% from underlying portfolio value

4Federal and state tax policy changes affecting municipal bond demand and tax-exempt status

5State and local government fiscal health - credit quality concerns in specific states (Illinois, New Jersey, Connecticut) impact portfolio valuations

6Tax-exempt interest income from municipal bonds (estimated 85-90% of gross income)

7Capital gains from bond trading and portfolio repositioning (10-15% of income)

8Leverage amplification through borrowing at short-term rates to invest in long-duration munis

My Notes

dividend/income - The fund targets high-net-worth investors in top tax brackets (37% federal plus state taxes) seeking tax-exempt monthly…

Very high negative sensitivity to rising rates.

Watch on earnings: 10-year Treasury yield (GS10) - primary driver of long-duration municipal bond valuations, 2-year/10-year yield curve spread (T10Y2Y) - impacts cost of leverage versus portfolio yield, Municipal bond credit spreads versus Treasuries - not directly available in FRED but proxied by high-yield spreads.