0001493683 2026-05-29 2026-05-29 0001493683 btmbt:CommonSharesMember 2026-05-21 2026-05-21 0001493683 btmbt:CommonSharesMember 2026-05-29 2026-05-29 0001493683 btmbt:CommonSharesMember 2024-01-01 2024-03-31 0001493683 btmbt:CommonSharesMember 2025-01-01 2025-03-31 0001493683 btmbt:CommonSharesMember 2026-01-01 2026-03-31 0001493683 btmbt:CommonSharesMember 2024-04-01 2024-06-30 0001493683 btmbt:CommonSharesMember 2025-04-01 2025-06-30 0001493683 btmbt:CommonSharesMember 2024-07-01 2024-09-30 0001493683 btmbt:CommonSharesMember 2025-07-01 2025-09-30 0001493683 btmbt:CommonSharesMember 2024-10-01 2024-12-31 0001493683 btmbt:CommonSharesMember 2025-10-01 2025-12-31 0001493683 btmbt:CommonSharesMember 2026-05-21 iso4217:USD iso4217:USD shares pure shares false 424B5 0001493683 BLACKROCK TAXABLE MUNICIPAL BOND TRUST The Trust’s primary investment objective is to seek high current income, with a secondary objective of capital appreciation. <div style="margin-top: 12pt; margin-bottom: 0pt; text-indent: 4%; font-size: 10pt; font-family: times new roman; text-align: justify;"><span style="font-style: italic;">The following table and example are intended to assist you in understanding the various costs and expenses directly or indirectly associated with investing in our common shares. </span></div> <table cellpadding="0" cellspacing="0" id="table866936" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 92%; border-spacing: 0px; margin-right: auto; margin-left: auto; table-layout: fixed; outline: none; outline-offset: 0px;"> <tr> <td style="width: 77%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="vertical-align: bottom; width: 2%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> </tr> <tr style="page-break-inside: avoid; font-family: times new roman; font-size: 10pt; background-color: #cceeff;"> <td style="vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 10pt; font-family: times new roman; font-weight: bold;">Shareholder Transaction Expenses</div> </td> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom;"></td> <td style="vertical-align: bottom;"></td> <td style="vertical-align: bottom;"></td> </tr> </table> <table cellpadding="0" cellspacing="0" class="tableHighlight" id="table328013" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 92%; border-spacing: 0px; margin-right: auto; margin-left: auto; table-layout: fixed; outline: none; outline-offset: 0px;"> <tr> <td style="width: 77%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="vertical-align: bottom; width: 2%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> </tr> <tr style="page-break-inside: avoid; font-family: times new roman; font-size: 10pt;"> <td style="vertical-align: top; width: 77%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3.00em; text-indent: -1.00em; font-size: 10pt; font-family: times new roman;">Sales load paid by you (as a percentage of offering price)<sup style="font-size: 75%; vertical-align: top;">(1)</sup></div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 0%;">1.00</td> <td style="vertical-align: bottom; width: 0%;">% </td> </tr> <tr style="page-break-inside: avoid; font-family: times new roman; font-size: 10pt; background-color: #cceeff;"> <td style="vertical-align: top; width: 77%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3.00em; text-indent: -1.00em; font-size: 10pt; font-family: times new roman;">Offering expenses borne by the Trust (as a percentage of offering price)<sup style="font-size: 75%; vertical-align: top;">(2)</sup></div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 0%;">0.02</td> <td style="vertical-align: bottom; width: 0%;">% </td> </tr> <tr style="page-break-inside: avoid; font-family: times new roman; font-size: 10pt;"> <td style="vertical-align: top; width: 77%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3.00em; text-indent: -1.00em; font-size: 10pt; font-family: times new roman;">Dividend reinvestment plan fees</div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <br/><br/></td> <td style="vertical-align: bottom; text-align: right; width: 0%;">$0.02 per share for<br/>open‑market purchases<br/>of common shares<sup style="font-size: 75%; vertical-align: top;">(3)</sup></td> <td style="vertical-align: bottom; width: 0%;"> <br/> <br/> </td> </tr> <tr style="page-break-inside: avoid; font-family: times new roman; font-size: 10pt; background-color: #cceeff;"> <td style="vertical-align: top; width: 77%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3.00em; text-indent: -1.00em; font-size: 10pt; font-family: times new roman;">Dividend reinvestment plan sale transaction fee</div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 0%;">$2.50</td> <td style="vertical-align: bottom; width: 0%;"><sup style="font-size: 75%; vertical-align: top;">(3)</sup> </td> </tr> </table> <div style="line-height: 8.0pt; margin-top: 0pt; margin-bottom: 2pt; border-bottom: 1px solid #000000; width: 11%;"> </div> <table cellpadding="0" cellspacing="0" id="table395264" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 8pt; border-spacing: 0px; width: 100%; outline: none; outline-offset: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 4%; vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;">(1)</td> <td style="vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: times new roman; text-align: justify;">Represents the estimated commission with respect to the Trust’s common shares being sold in this offering. There is no guarantee that there will be any sales of the Trust’s common shares pursuant to this Prospectus Supplement and the accompanying Prospectus. Actual sales of the Trust’s common shares under this Prospectus Supplement and the accompanying Prospectus, if any, may be less than as set forth under “Capitalization” below. In addition, the price per common share of any such sale may be greater than or less than the price set forth under “Capitalization” below, depending on the market price of the Trust’s common shares at the time of any such sale.</div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" id="table796228" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 8pt; border-spacing: 0px; width: 100%; outline: none; outline-offset: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 4%; vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;">(2)</td> <td style="vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: times new roman; text-align: justify;">Based on a sale price per common share of $15.59, which represents the last reported sale price per share of the Trust’s common shares on the NYSE on May 21, 2026. Assumes all of the common shares being offered by this Prospectus Supplement and the accompanying Prospectus are sold. Represents the initial offering costs incurred by the Trust in connection with this offering, which are estimated to be $181,921. Offering costs generally include, but are not limited to, the preparation, review and filing with the SEC of the Trust’s registration statement (the “Registration Statement”), the preparation, review and filing of any associated marketing or similar materials, costs associated with the printing, mailing or other distribution of the Prospectus Supplement and the accompanying Prospectus and/or marketing materials, associated filing fees, NYSE listing fees, and legal and auditing fees associated with the offering.</div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" id="table719148" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 8pt; border-spacing: 0px; width: 100%; outline: none; outline-offset: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 4%; vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;">(3)</td> <td style="vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: times new roman; text-align: justify;">Computershare Trust Company, N.A.’s (the “Reinvestment Plan Agent”) fees for the handling of the reinvestment of dividends will be paid by the Trust. However, you will pay a $0.02 per share fee incurred in connection with open-market purchases, which will be deducted from the value of the dividend. You will also be charged a $2.50 sales fee and pay a $0.15 per share fee if you direct the Reinvestment Plan Agent to sell your common shares held in a dividend reinvestment account. Per share fees include any applicable brokerage commissions the Reinvestment Plan Agent is required to pay.</div> </td> </tr> </table> as a percentage of offering price 0.0100 as a percentage of offering price 0.0002 0.02 2.50 <table cellpadding="0" cellspacing="0" class="tableHighlight" id="table757866" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 10pt; width: 92%; border-spacing: 0px; margin-right: auto; margin-left: auto; table-layout: fixed; outline: none; outline-offset: 0px;"> <tr> <td style="width: 77%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="vertical-align: bottom; width: 2%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> </tr> <tr style="page-break-inside: avoid; font-family: times new roman; font-size: 10pt;"> <td style="vertical-align: top; width: 77%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 10pt; font-family: times new roman;"><span style="font-weight: bold;">Estimated Annual Expenses</span> (as a percentage of net assets attributable to common shares)</div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"></td> <td style="vertical-align: bottom; width: 0%;"></td> <td style="vertical-align: bottom; width: 0%;"></td> </tr> <tr style="page-break-inside: avoid; font-family: times new roman; font-size: 10pt; background-color: #cceeff;"> <td style="vertical-align: top; width: 77%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3.00em; text-indent: -1.00em; font-size: 10pt; font-family: times new roman;">Management Fees<sup style="font-size: 75%; vertical-align: top;">(4)(5)</sup></div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 0%;">0.82</td> <td style="vertical-align: bottom; width: 0%;">% </td> </tr> <tr style="page-break-inside: avoid; font-family: times new roman; font-size: 10pt;"> <td style="vertical-align: top; width: 77%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3.00em; text-indent: -1.00em; font-size: 10pt; font-family: times new roman;">Other Expenses</div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 0%;">2.29</td> <td style="vertical-align: bottom; width: 0%;">% </td> </tr> <tr style="page-break-inside: avoid; font-family: times new roman; font-size: 10pt; background-color: #cceeff;"> <td style="vertical-align: top; width: 77%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.00em; text-indent: -1.00em; font-size: 10pt; font-family: times new roman;">Miscellaneous Other Expenses<sup style="font-size: 75%; vertical-align: top;">(6)</sup></div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 0%;">0.06% </td> <td style="vertical-align: bottom; width: 0%;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: times new roman; font-size: 10pt;"> <td style="vertical-align: top; width: 77%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 5.00em; text-indent: -1.00em; font-size: 10pt; font-family: times new roman;">Interest Expense<sup style="font-size: 75%; vertical-align: top;">(7)</sup></div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 0%;">2.23% </td> <td style="vertical-align: bottom; width: 0%;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: times new roman; font-size: 10pt; background-color: #cceeff;"> <td style="vertical-align: top; width: 77%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3.00em; text-indent: -1.00em; font-size: 10pt; font-family: times new roman;">Total Annual Expenses<sup style="font-size: 75%; vertical-align: top;">(6)</sup></div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; text-align: right; width: 0%;">3.11</td> <td style="vertical-align: bottom; width: 0%;">% </td> </tr> <tr style="font-size: 1px;"> <td style="vertical-align: bottom; width: 77%;"></td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3.00px double #000000;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3.00px double #000000;"> </div> </td> <td style="width: 0%;"> </td> </tr> </table> <table cellpadding="0" cellspacing="0" id="table407578" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 8pt; border-spacing: 0px; width: 100%; outline: none; outline-offset: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 4%; vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;">(4)</td> <td style="vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: times new roman; text-align: justify;">The Trust currently pays the Advisor a monthly fee in arrears at an annual rate equal to 0.55% of the average daily value of the Trust’s managed assets. For purposes of calculating this fee, “Managed Assets” are determined as total assets of the Trust (including any assets attributable to money borrowed for investment purposes) less the sum of its accrued liabilities (other than money borrowed for investment purposes).</div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" id="table909849" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 8pt; border-spacing: 0px; width: 100%; outline: none; outline-offset: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 4%; vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;">(5)</td> <td style="vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: times new roman; text-align: justify;">The Trust and the Advisor have entered into a fee waiver agreement (the “Fee Waiver Agreement”), pursuant to which the Advisor has contractually agreed to waive the investment advisory fees with respect to any portion of the Trust’s assets attributable to investments in any equity and fixed-income mutual funds and ETFs managed by the Advisor or its affiliates and other exchange-traded products sponsored by the Advisor or its affiliates, in each case that have a contractual management fee, through June 30, 2028. In addition, pursuant to the Fee Waiver Agreement, the Advisor has contractually agreed to waive its investment advisory fees by the amount of investment advisory fees the Trust pays to the Advisor indirectly through its investment in money market funds managed by the Advisor or its affiliates, through June 30, 2028. The Fee Waiver Agreement may be continued from year to year thereafter, provided that such continuance is specifically approved by the Advisor and the Trust (including by a majority of the Trust’s Independent Trustees). Neither the Advisor nor the Trust is obligated to extend the Fee Waiver Agreement. The Fee Waiver Agreement may be terminated at any time, without the payment of any penalty, only by the Trust (upon the vote of a majority of the Trustees who are not “interested persons” (as defined in the Investment Company Act) of the Trust (the “Independent Trustees”) or a majority of the outstanding voting securities of the Trust), upon 90 days’ written notice by the Trust to the Advisor.</div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" id="table949825" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 8pt; border-spacing: 0px; width: 100%; outline: none; outline-offset: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 4%; vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;">(6)</td> <td style="vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: times new roman; text-align: justify;">The Total Annual Fund Operating Expenses and Miscellaneous Other Expenses do not correlate to the ratios of expenses to average net assets given in the Trust’s most recent annual financial statements and additional information, which do not include Acquired Fund Fees and Expenses.</div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" id="table272490" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 8pt; border-spacing: 0px; width: 100%; outline: none; outline-offset: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 4%; vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;">(7)</td> <td style="vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: times new roman; text-align: justify;">Assumes the use of leverage in the form of reverse repurchase agreements representing 35% of Managed Assets at an annual interest expense to the Trust of 4.51%, which is based on current market conditions. The actual amount of interest expense borne by the Trust will vary over time in accordance with the level of the Trust’s use of reverse repurchase agreements and variations in market interest rates. Interest expense is required to be treated as an expense of the Trust for accounting purposes.</div> </td> </tr> </table> as a percentage of net assets attributable to common shares 0.0082 0.0229 0.0006 0.0223 0.0311 Computershare Trust Company, N.A.’s (the “Reinvestment Plan Agent”) fees for the handling of the reinvestment of dividends will be paid by the Trust. However, you will pay a $0.02 per share fee incurred in connection with open-market purchases, which will be deducted from the value of the dividend. You will also be charged a $2.50 sales fee and pay a $0.15 per share fee if you direct the Reinvestment Plan Agent to sell your common shares held in a dividend reinvestment account. Per share fees include any applicable brokerage commissions the Reinvestment Plan Agent is required to pay. <table cellpadding="0" cellspacing="0" id="table407578" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 8pt; border-spacing: 0px; width: 100%; outline: none; outline-offset: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 4%; vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;">(4)</td> <td style="vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: times new roman; text-align: justify;">The Trust currently pays the Advisor a monthly fee in arrears at an annual rate equal to 0.55% of the average daily value of the Trust’s managed assets. For purposes of calculating this fee, “Managed Assets” are determined as total assets of the Trust (including any assets attributable to money borrowed for investment purposes) less the sum of its accrued liabilities (other than money borrowed for investment purposes).</div> </td> </tr> </table> <table cellpadding="0" cellspacing="0" id="table909849" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 8pt; border-spacing: 0px; width: 100%; outline: none; outline-offset: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 4%; vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;">(5)</td> <td style="vertical-align: top; text-align: left; padding-top: 0px; padding-bottom: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 8pt; font-family: times new roman; text-align: justify;">The Trust and the Advisor have entered into a fee waiver agreement (the “Fee Waiver Agreement”), pursuant to which the Advisor has contractually agreed to waive the investment advisory fees with respect to any portion of the Trust’s assets attributable to investments in any equity and fixed-income mutual funds and ETFs managed by the Advisor or its affiliates and other exchange-traded products sponsored by the Advisor or its affiliates, in each case that have a contractual management fee, through June 30, 2028. In addition, pursuant to the Fee Waiver Agreement, the Advisor has contractually agreed to waive its investment advisory fees by the amount of investment advisory fees the Trust pays to the Advisor indirectly through its investment in money market funds managed by the Advisor or its affiliates, through June 30, 2028. The Fee Waiver Agreement may be continued from year to year thereafter, provided that such continuance is specifically approved by the Advisor and the Trust (including by a majority of the Trust’s Independent Trustees). Neither the Advisor nor the Trust is obligated to extend the Fee Waiver Agreement. The Fee Waiver Agreement may be terminated at any time, without the payment of any penalty, only by the Trust (upon the vote of a majority of the Trustees who are not “interested persons” (as defined in the Investment Company Act) of the Trust (the “Independent Trustees”) or a majority of the outstanding voting securities of the Trust), upon 90 days’ written notice by the Trust to the Advisor.</div> </td> </tr> </table> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: times new roman; font-weight: bold;">Example</div> <div style="margin-top: 6pt; margin-bottom: 0pt; text-indent: 4%; font-size: 10pt; font-family: times new roman; text-align: justify;">The following example illustrates the expenses (including the sales load of $10.00 and offering costs of $0.19) that you would pay on a $1,000 investment in common shares, assuming (i) the Fee Waiver Agreement described above is only in effect for the first year, since it expires on June 30, 2028, and (ii) a 5% annual return:</div> <table cellpadding="0" cellspacing="0" id="table384518" style="border-collapse: collapse; font-family: 'times new roman'; font-size: 8pt; width: 92%; border-spacing: 0px; margin-right: auto; margin-left: auto; table-layout: fixed; outline: none; outline-offset: 0px;"> <tr> <td style="width: 37%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="vertical-align: bottom; width: 8%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> <td style="vertical-align: bottom; width: 8%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> <td style="vertical-align: bottom; width: 8%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> <td style="vertical-align: bottom; width: 8%; padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> <td style="padding-top: 0px; padding-bottom: 0px;"></td> </tr> <tr style="page-break-inside: avoid; font-family: times new roman; font-size: 8pt;"> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom;">  </td> <td colspan="2" style="border-bottom: 1.00pt solid #000000; vertical-align: bottom; text-align: center;"><span style="font-weight: bold;">One Year</span></td> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom;">  </td> <td colspan="2" style="border-bottom: 1.00pt solid #000000; vertical-align: bottom; text-align: center;"><span style="font-weight: bold;">Three Years</span></td> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom;">  </td> <td colspan="2" style="border-bottom: 1.00pt solid #000000; vertical-align: bottom; text-align: center;"><span style="font-weight: bold;">Five Years</span></td> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom;">  </td> <td colspan="2" style="border-bottom: 1.00pt solid #000000; vertical-align: bottom; text-align: center;"><span style="font-weight: bold;">Ten Years</span></td> <td style="vertical-align: bottom;"> </td> </tr> <tr style="page-break-inside: avoid; font-family: times new roman; font-size: 10pt; background-color: #cceeff;"> <td style="vertical-align: top;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.00em; text-indent: -1.00em; font-size: 10pt; font-family: times new roman;">Total expenses incurred</div> </td> <td style="vertical-align: bottom;">  </td> <td style="vertical-align: bottom;">$</td> <td style="vertical-align: bottom; text-align: right;">41</td> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom;">  </td> <td style="vertical-align: bottom;">$</td> <td style="vertical-align: bottom; text-align: right;">105</td> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom;">  </td> <td style="vertical-align: bottom;">$</td> <td style="vertical-align: bottom; text-align: right;">172</td> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom;">  </td> <td style="vertical-align: bottom;">$</td> <td style="vertical-align: bottom; text-align: right;">349</td> <td style="vertical-align: bottom;"> </td> </tr> </table> <div style="margin-top: 12pt; margin-bottom: 0pt; text-indent: 4%; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: justify;">The example should not be considered a representation of future expenses. The example assumes that the estimated “Other Expenses” set forth in the Estimated Annual Expenses table are accurate, that the rate listed under Total Annual Expenses remains the same each year and that all dividends and distributions are reinvested at NAV. Actual expenses may be greater or less than those assumed. Moreover, the Trust’s actual rate of return may be greater or less than the hypothetical 5% return shown in the example.</div> 41 105 172 349 <div style="margin-top: 12pt; margin-bottom: 0pt; text-indent: 4%; font-size: 10pt; font-family: times new roman; font-weight: bold; text-align: justify;">The example should not be considered a representation of future expenses. The example assumes that the estimated “Other Expenses” set forth in the Estimated Annual Expenses table are accurate, that the rate listed under Total Annual Expenses remains the same each year and that all dividends and distributions are reinvested at NAV. Actual expenses may be greater or less than those assumed. Moreover, the Trust’s actual rate of return may be greater or less than the hypothetical 5% return shown in the example.</div> <div id="suptoc119649_6" style="margin-top:0pt;margin-bottom:0pt;font-size:10pt;font-family:times new roman;font-weight:bold;text-align:center;">PRICE RANGE OF COMMON SHARES </div><div style="margin-top:12pt;margin-bottom:0pt;text-indent:4%;font-size:10pt;font-family:times new roman;text-align:justify;">The following table sets forth, for the quarters indicated, the highest and lowest daily closing prices on the NYSE per common share, and the NAV per common share and the premium to or discount from NAV, on the date of each of the high and low market prices. The table also sets forth the number of common shares traded on the NYSE during the respective quarters. </div> <table cellpadding="0" cellspacing="0" style="border-collapse:collapse;font-family:times new roman;font-size:10pt;width:100%;border-spacing:0px;margin:0 auto"> <tr> <td style="width:50%;"></td> <td style="vertical-align:bottom;width:2%;"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:2%;"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:2%;"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:2%;"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:2%;"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:2%;"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:2%;"></td> <td></td> <td></td> <td></td> </tr> <tr style="page-break-inside:avoid;font-family:times new roman;font-size:8pt"> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td colspan="6" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center;"><span style="font-weight:bold">NYSE Market Price<br/>Per Common Share</span></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td colspan="6" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center;"><span style="font-weight:bold">NAV per Common<br/>Share on Date of<br/>Market Price</span></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td colspan="6" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center;"><span style="font-weight:bold">Premium/<br/>(Discount) on<br/>Date of Market<br/>Price</span></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center;"><span style="font-weight:bold">Trading</span></td> <td style="vertical-align:bottom;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:times new roman;font-size:8pt"> <td style="vertical-align:bottom;white-space:nowrap;"> <span style="margin-top:0pt;margin-bottom:0pt;border-bottom:1.00pt solid #000000;display:table-cell;font-size:8pt;font-family:times new roman;font-weight:bold">During Quarter Ended</span></td> <td style="vertical-align:bottom;">  </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center;"><span style="font-weight:bold">High</span></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center;"><span style="font-weight:bold">Low</span></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center;"><span style="font-weight:bold">High</span></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center;"><span style="font-weight:bold">Low</span></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center;"><span style="font-weight:bold">High</span></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center;"><span style="font-weight:bold">Low</span></td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;text-align:center;"><span style="font-weight:bold">Volume</span></td> <td style="vertical-align:bottom;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:times new roman;font-size:10pt;background-color:#cceeff"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:10pt;font-family:times new roman;">March 31, 2026</div></td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">16.73</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">15.66</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">17.80</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">16.89</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">(6.01</td> <td style="white-space:nowrap;vertical-align:bottom;">)% </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">(7.28</td> <td style="white-space:nowrap;vertical-align:bottom;">)% </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">11,994,573</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:times new roman;font-size:10pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:10pt;font-family:times new roman;">December 31, 2025</div></td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">17.35</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">16.26</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">17.40</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">17.36</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">(0.29</td> <td style="white-space:nowrap;vertical-align:bottom;">)% </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">(6.34</td> <td style="white-space:nowrap;vertical-align:bottom;">)% </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">20,331,369</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:times new roman;font-size:10pt;background-color:#cceeff"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:10pt;font-family:times new roman;">September 30, 2025</div></td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">16.63</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">15.60</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">17.63</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">16.78</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">(5.67</td> <td style="white-space:nowrap;vertical-align:bottom;">)% </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">(7.03</td> <td style="white-space:nowrap;vertical-align:bottom;">)% </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">9,582,202</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:times new roman;font-size:10pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:10pt;font-family:times new roman;">June 30, 2025</div></td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">16.72</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">15.44</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">17.66</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">16.45</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">(5.32</td> <td style="white-space:nowrap;vertical-align:bottom;">)% </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">(6.14</td> <td style="white-space:nowrap;vertical-align:bottom;">)% </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">9,835,739</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:times new roman;font-size:10pt;background-color:#cceeff"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:10pt;font-family:times new roman;">March 31, 2025</div></td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">16.99</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">16.06</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">17.82</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">16.83</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">(4.66</td> <td style="white-space:nowrap;vertical-align:bottom;">)% </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">(4.58</td> <td style="white-space:nowrap;vertical-align:bottom;">)% </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">8,034,741</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:times new roman;font-size:10pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:10pt;font-family:times new roman;">December 31, 2024</div></td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">17.86</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">15.84</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">18.42</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">17.13</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">(3.04</td> <td style="white-space:nowrap;vertical-align:bottom;">)% </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">(7.53</td> <td style="white-space:nowrap;vertical-align:bottom;">)% </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">17,286,712</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:times new roman;font-size:10pt;background-color:#cceeff"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:10pt;font-family:times new roman;">September 30, 2024</div></td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">18.28</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">16.15</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">18.60</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">17.22</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">(1.75</td> <td style="white-space:nowrap;vertical-align:bottom;">)% </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">(6.21</td> <td style="white-space:nowrap;vertical-align:bottom;">)% </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">17,271,289</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:times new roman;font-size:10pt"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:10pt;font-family:times new roman;">June 30, 2024</div></td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">16.35</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">15.47</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">17.46</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">16.95</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">(6.36</td> <td style="white-space:nowrap;vertical-align:bottom;">)% </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">(8.73</td> <td style="white-space:nowrap;vertical-align:bottom;">)% </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">12,289,373</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> </tr> <tr style="page-break-inside:avoid;font-family:times new roman;font-size:10pt;background-color:#cceeff"> <td style="vertical-align:top;"> <div style="margin-top:0pt;margin-bottom:0pt;margin-left:1.00em;text-indent:-1.00em;font-size:10pt;font-family:times new roman;">March 31, 2024</div></td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">17.11</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">16.11</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">18.29</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;">$</td> <td style="vertical-align:bottom;text-align:right;">17.50</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> <td style="vertical-align:bottom;">  </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">(6.45</td> <td style="white-space:nowrap;vertical-align:bottom;">)% </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">(7.94</td> <td style="white-space:nowrap;vertical-align:bottom;">)% </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;"> </td> <td style="vertical-align:bottom;text-align:right;">13,630,760</td> <td style="white-space:nowrap;vertical-align:bottom;"> </td> </tr> </table><div style="margin-top:12pt;margin-bottom:0pt;text-indent:4%;font-size:10pt;font-family:times new roman;text-align:justify;">As of May 21, 2026, the NAV per common share of the Trust was $16.72 and the market price per common share was $15.59, representing a discount to NAV of (6.76)%. Common shares of the Trust have historically traded at both a premium and discount to NAV. </div><div style="margin-top:12pt;margin-bottom:0pt;text-indent:4%;font-size:10pt;font-family:times new roman;text-align:justify;">As of May 21, 2026, the Trust has 61,792,514 common shares outstanding. </div> 16.73 15.66 17.80 16.89 -0.0601 -0.0728 17.35 16.26 17.40 17.36 -0.0029 -0.0634 16.63 15.60 17.63 16.78 -0.0567 -0.0703 16.72 15.44 17.66 16.45 -0.0532 -0.0614 16.99 16.06 17.82 16.83 -0.0466 -0.0458 17.86 15.84 18.42 17.13 -0.0304 -0.0753 18.28 16.15 18.60 17.22 -0.0175 -0.0621 16.35 15.47 17.46 16.95 -0.0636 -0.0873 17.11 16.11 18.29 17.50 -0.0645 -0.0794 16.72 15.59 -0.0676 61792514 common shares Represents the estimated commission with respect to the Trust’s common shares being sold in this offering. There is no guarantee that there will be any sales of the Trust’s common shares pursuant to this Prospectus Supplement and the accompanying Prospectus. Actual sales of the Trust’s common shares under this Prospectus Supplement and the accompanying Prospectus, if any, may be less than as set forth under “Capitalization” below. In addition, the price per common share of any such sale may be greater than or less than the price set forth under “Capitalization” below, depending on the market price of the Trust’s common shares at the time of any such sale. Based on a sale price per common share of $15.59, which represents the last reported sale price per share of the Trust’s common shares on the NYSE on May 21, 2026. Assumes all of the common shares being offered by this Prospectus Supplement and the accompanying Prospectus are sold. Represents the initial offering costs incurred by the Trust in connection with this offering, which are estimated to be $181,921. Offering costs generally include, but are not limited to, the preparation, review and filing with the SEC of the Trust’s registration statement (the “Registration Statement”), the preparation, review and filing of any associated marketing or similar materials, costs associated with the printing, mailing or other distribution of the Prospectus Supplement and the accompanying Prospectus and/or marketing materials, associated filing fees, NYSE listing fees, and legal and auditing fees associated with the offering. Computershare Trust Company, N.A.’s (the “Reinvestment Plan Agent”) fees for the handling of the reinvestment of dividends will be paid by the Trust. However, you will pay a $0.02 per share fee incurred in connection with open-market purchases, which will be deducted from the value of the dividend. You will also be charged a $2.50 sales fee and pay a $0.15 per share fee if you direct the Reinvestment Plan Agent to sell your common shares held in a dividend reinvestment account. Per share fees include any applicable brokerage commissions the Reinvestment Plan Agent is required to pay. The Trust currently pays the Advisor a monthly fee in arrears at an annual rate equal to 0.55% of the average daily value of the Trust’s managed assets. For purposes of calculating this fee, “Managed Assets” are determined as total assets of the Trust (including any assets attributable to money borrowed for investment purposes) less the sum of its accrued liabilities (other than money borrowed for investment purposes). The Trust and the Advisor have entered into a fee waiver agreement (the “Fee Waiver Agreement”), pursuant to which the Advisor has contractually agreed to waive the investment advisory fees with respect to any portion of the Trust’s assets attributable to investments in any equity and fixed-income mutual funds and ETFs managed by the Advisor or its affiliates and other exchange-traded products sponsored by the Advisor or its affiliates, in each case that have a contractual management fee, through June 30, 2028. In addition, pursuant to the Fee Waiver Agreement, the Advisor has contractually agreed to waive its investment advisory fees by the amount of investment advisory fees the Trust pays to the Advisor indirectly through its investment in money market funds managed by the Advisor or its affiliates, through June 30, 2028. The Fee Waiver Agreement may be continued from year to year thereafter, provided that such continuance is specifically approved by the Advisor and the Trust (including by a majority of the Trust’s Independent Trustees). Neither the Advisor nor the Trust is obligated to extend the Fee Waiver Agreement. The Fee Waiver Agreement may be terminated at any time, without the payment of any penalty, only by the Trust (upon the vote of a majority of the Trustees who are not “interested persons” (as defined in the Investment Company Act) of the Trust (the “Independent Trustees”) or a majority of the outstanding voting securities of the Trust), upon 90 days’ written notice by the Trust to the Advisor. The Total Annual Fund Operating Expenses and Miscellaneous Other Expenses do not correlate to the ratios of expenses to average net assets given in the Trust’s most recent annual financial statements and additional information, which do not include Acquired Fund Fees and Expenses. Assumes the use of leverage in the form of reverse repurchase agreements representing 35% of Managed Assets at an annual interest expense to the Trust of 4.51%, which is based on current market conditions. The actual amount of interest expense borne by the Trust will vary over time in accordance with the level of the Trust’s use of reverse repurchase agreements and variations in market interest rates. Interest expense is required to be treated as an expense of the Trust for accounting purposes.