Company: BDJ
Filing Date: 2025-03-07
Form Type: N-CSR
Source: 0001193125-25-049575
Chunk: 26

Company: BlackRock Enhanced Equity Dividend Trust
Filing Date: 2025-03-07
Form: N-CSR
Chunk 26
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actor. Although the company achieved the first-ever approval for an Alzheimer’s treatment, sales were slower than expected due to requirements for specialized screening and the limited availability of infusion centers. An underweight in AbbVie, Inc. also detracted from relative performance. The company reported robust sales growth, and it secured label expansions for its immunology drugs, including treatments for plaque psoriasis and inflammatory bowel disease. An underweight in Eli Lilly & Co. weighed on results, as well. The pharmaceutical company experienced strong demand for its GLP-1 drugs, which are widely used for weight loss and diabetes management. The Trust made use of options, principally writing call options on individual stocks, to seek enhanced income returns while continuing to participate in the performance of the underlying equities. The option overlay strategy contributed to results. The Trust’s practice of maintaining a speciﬁed level of monthly distributions to shareholders did not have a material impact on the Trust’s investment strategy. The distribution policy resulted in return of capital for the period. Refer to the financial highlights and income tax information sections in this report for further information about the distributions. Describe recent portfolio activity. The Trust’s allocations to the medical devices and supplies, biotechnology, and pharmaceutical sub-sectors increased, while its weighting in the healthcare providers and services sub-sector decreased. Describe portfolio positioning at period end. The Trust held 39% of net asset value in the medical devices and supplies industry, 26% in biotechnology, 20% in pharmaceuticals, and 10% in healthcare providers and services. These industry weightings were a result of bottom-up stock selection. As of December 31, 2024, the Trust had in place an option overwriting program whereby 36.0% of the underlying equities were overwritten with call options on individual stocks. These call options were typically written at prices above the prevailing market prices (estimated to be 3.1% out of the money) and for maturities averaging 54 days. The views expressed reflect the opinions of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions.
These views are not intended to be a forecast of future events and are no guarantee of future results.

Trust Summary 25

Trust Summary as of December 31, 2024 (continued) BlackRock Health Sciences Trust (BME) Overview of the Trust’s Total Investments

| TEN LARGEST HOLDINGS           |                                |
| Security                       | Percent of TotalInvestments