SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* BLACKROCK FINANCIAL MANAGEMENT INC (Last) (First) (Middle) 40 EAST 52ND STREET (Street) NEW YORK NY 10022 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol ANTHRACITE CAPITAL INC [ AHR ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) X Other (specify below) Manager-See Additional Remarks
	3. Date of Earliest Transaction (Month/Day/Year) 03/31/2009
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/31/2009		C(1)		53,398	D	(1)	3,364,376	D
Common Stock	03/31/2009		J(2)		18,277	A	(2)	3,382,653	D
Common Stock	03/31/2009		C(3)		4,750	D	(3)	3,377,903	D
Common Stock	03/31/2009		J(2)		1,610	A	(2)	3,379,513	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit(1)	(4)	03/31/2009		C(1)			53,398	03/31/2009(5)	03/31/2009	Common Stock	53,398	$0.00	0	D
Restricted Stock Unit(3)	(4)	03/31/2009		C(3)			4,750	03/31/2010(6)	03/31/2010	Common Stock	4,750	$0.00	116,671	D
Restricted Stock Unit(7)	(4)	03/31/2009		J(7)			60,275	06/30/2010(8)	06/30/2012	Common Stock	60,275	$0.00	60,275	D
Restricted Stock Unit(7)	(4)	03/31/2009		J(7)			107,725	03/31/2011(9)	03/31/2011	Common Stock	107,725	$0.00	107,725	D

Explanation of Responses:

1. In 2007, BlackRock Financial Management, Inc. (the "Manager"), the manager of Anthracite Capital, Inc. (the "Company"), granted Restricted Stock Units in respect of shares of the Company's common stock to certain employees of the Manager under the BlackRock, Inc. Involuntary Deferred Compensation Plan. Each Restricted Stock Unit is payable by delivery of a share of the Company's common stock or the cash value thereof.

2. Shares of the Company's common stock withheld by the Manager to satisfy the Restricted Stock Unit holders' tax withholding obligations arising from the conversion of Restricted Stock Units, calculated based on the closing price of the Company's common stock on March 30, 2009 ($0.35).

3. In 2008, the Manager granted Restricted Stock Units in respect of shares of the Company's common stock to certain employees of the Manager under the BlackRock, Inc. Involuntary Deferred Compensation Plan. Each Restricted Stock Unit is payable by delivery of a share of the Company's common stock or the cash value thereof.

4. 1-for-1

5. Vested on grant date (March 15, 2007), but not able to be settled until March 31, 2009.

6. Vested on grant date (March 31, 2008), but will not settle, subject to limited exceptions, until March 31, 2010.

7. In 2009, the Manager granted Restricted Stock Units in respect of shares of the Company's common stock to certain employees of the Manager under the BlackRock, Inc. Involuntary Deferred Compensation Plan. Each Restricted Stock Unit is payable by delivery of a share of the Company's common stock or the cash value thereof.

8. Vests one-third on each of the first, second and third anniversaries of June 30, 2009.

9. Vested on grant date (March 31, 2009), but will not settle, subject to limited exceptions, until March 31, 2011.

Remarks:

The Manager may be deemed a director of the Company by virtue of the service on the board of directors of the Company of Scott Amero, the Vice Chairman of the Manager, and Chris Milner, a Managing Director of the Manager.

	/s/ Richard M. Shea, as Managing Director	04/02/2009
	** Signature of Reporting Person	Date
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