-----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, RCuiaq2Fn/VBPdGmZVYGZwM9pBs3dOuur6/JVAbUFh1vj2yYSRRDqxtzL0Z9kCh/ v3nBidlpXz76beOZq6o2rg== 0000889812-99-001439.txt : 19990512 0000889812-99-001439.hdr.sgml : 19990512 ACCESSION NUMBER: 0000889812-99-001439 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990511 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BLACKROCK ADVANTAGE TERM TRUST INC CENTRAL INDEX KEY: 0000845851 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 133504092 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-53129 FILM NUMBER: 99616545 BUSINESS ADDRESS: STREET 1: 199 WATER ST CITY: NEW YORK STATE: NY ZIP: 10292 BUSINESS PHONE: 2122142856 FORMER COMPANY: FORMER CONFORMED NAME: BLACKSTONE ADVANTAGE TERM TRUST INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: BLACKSTONE STAR TRUST INC DATE OF NAME CHANGE: 19900312 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: KARPUS MANAGEMENT INC CENTRAL INDEX KEY: 0001048703 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 161290558 STATE OF INCORPORATION: NY 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 SC 13D/A 1 AMENDMENT NO. 15 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities and Exchange Act of 1934 (Amendment No 15) BLACKROCK ADVANTAGE TERM TRUST, INC. (BAT) (Name of Issuer) Common Stock (Title of Class of Securities) 09247A101 (CUSIP Number) George W. Karpus, President Karpus Management, Inc. d/b/a Karpus Investment Management 14 Tobey Village Office Park Pittsford, New York 14534 (716) 586-4680 (Name, Address, and Telephone Number of Person Authorized to Receive Notices and Communications) May 6, 1999 (Date of Event which Requires Filing of this Statement) If the person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1 (b) (3) or (4), check the following box. [x] (Page 1 of 4 pages) There are no exhibits. CUSIP No. 092474101 SCHEDULE 13D Page 2 of 4 Pages 1. Name of Reporting Person S.S. or I.R.S. Identification No. of Above Person Karpus Management, Inc. d/b/a Karpus Investment Management I.D.: #16-1290558 2. Check the Appropriate Box if a Member of a Group* (a) / / (b) /X/ 3. SEC Use Only 4. Source of Funds* AF 5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to Items 2(d) or 2(e) / / 6. Citizenship or Place of Organization New York 7. Sole Voting Power 883,350 Number of Shares 8. Shared Voting Power Beneficially Owned by Each 9. Sole Dispositive Power Reporting Person 883,350 With 10. Shared Dispositive Power 11. Aggregate Amount Beneficially Owned by Each Reporting Person 883,350 12. Check Box if the Aggregate Amount in Row 11 Excludes Certain Shares* / / 13. Percent of Class Represented by Amount in Row 11 9.29% 14. Type of Reporting Person* IA *SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION. ITEM 1 Security and Issuer Common Stock Blackrock Advantage Term Trust, Inc. Blackrock Financial Management L. P. 345 Park Ave. 31 St. floor New York, New York 10154 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 VanDegriff, Vice President and Director Sophie Karpus, Director b) 14 Tobey Village Office park 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, JoAnn VanDegriff, or Sophie Karpus ("the Principals") or KIM has been convicted in the past five years of any criminal proceeding (excluding traffic violations). e) During the last five years non-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 shares of BAT on behalf of accounts that are managed by KIM ("the Accounts") under limited powers of attorney. 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 fixed income manager, with a specialty focus in the closed end fund sector, the profile of BAT fit the investment guidelines for various Accounts. Shares have been acquired since February 8, 1995. ITEM 5 Interest in Securities of the Issuer a) As of the date of this Report, KIM owns 883,350 shares, which represents 9.29% of the outstanding Shares. George W. Karpus, (President of KIM) presently owns 3,000 shares purchased on February 27, 1997 at a price of $8.625 per share. Karpus Investment Management Profit Sharing Plan owns 1,000 shares purchased on June 9, 1995 at a price of $8.625 per share. None of the other Principals presently owns shares. b) KIM has the sole power to dispose of and to vote all of such Shares under limited powers of attorney. c) The first open market purchase occurred on February 8, 1995 as previously reported. Open market purchases for the last 60 days for the Accounts. There have no dispositions and no acquisitions, other than by such open market purchases, during such period unless indicated. Date Shares Price Per Date Shares Price Per Share Share 3/11/99 1000 9.6875 4/6/99 1500 9.75 3/15/99 3500 9.625 4/7/99 25650 9.6875 3/18/99 12200 9.6875 4/8/99 12000 9.75 3/19/99 600 9.75 4/8/99 1400 9.6875 3/22/99 500 9.75 4/9/99 -1000 9.6875 3/23/99 2800 9.75 4/9/99 1000 9.6875 3/24/99 500 9.75 4/13/99 1000 9.6875 3/25/99 -1000 9.812 4/13/99 4000 9.75 3/25/99 600 9.75 4/14/99 2700 9.75 3/26/99 -500 9.812 4/15/99 500 9.75 3/29/99 -500 9.75 4/16/99 1500 9.75 3/30/99 -1500 9.75 4/19/99 10600 9.75 4/20/99 2500 9.75 4/21/99 400 9.75 4/22/99 1600 9.75 4/23/99 -5000 9.75 4/26/99 3300 9.75 * Shares from 04-23-99 were transferred out of our client's account. The Accounts have the right to receive all dividends from, any proceeds from the sale of the Shares. KIM reserves the right to further accumulate or sell. None of the Accounts has an interest in shares constituting more than 5% of the Shares. ITEM 6 Contracts, Arrangements, Understandings, or Relationships with Respect to Securities of the Issuer. Except as described above, there are no contracts, arrangements, understandings or relationships of any kind among the Principals and KIM and between any of them and any person with respect to any of BAT 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. May 6, 1999 By: /s/ George W. Karpus - ----------- ---------------------------------- Date Signature George W. Karpus, President --------------------------- Name/Title -----END PRIVACY-ENHANCED MESSAGE-----