Wells Fargo Divests Entire Stake in BlackRock Resources Trust

TL;DR

**Wells Fargo dumped all its BlackRock Resources & Commodities Strategy Trust shares.**

AI Summary

Wells Fargo & Company, a major financial institution, filed an amended SC 13G/A on February 6, 2024, indicating its ownership in BlackRock Resources & Commodities Strategy Trust. As of December 31, 2023, Wells Fargo reported beneficial ownership of 0 shares, a significant decrease from previous filings. This matters to investors because it shows a complete divestment by a major institutional holder, which could signal a change in investment strategy or outlook regarding the trust's performance or the commodities sector.

Why It Matters

This filing shows Wells Fargo & Company no longer holds any shares in BlackRock Resources & Commodities Strategy Trust, indicating a complete exit from their position. This could influence other investors' perceptions of the trust's future prospects.

Risk Assessment

Risk Level: medium — The complete divestment by a major institution like Wells Fargo could signal underlying concerns about the trust or the commodities market, posing a medium risk to current or prospective investors.

Analyst Insight

Investors currently holding or considering BlackRock Resources & Commodities Strategy Trust should investigate the reasons behind Wells Fargo's complete divestment, as it could signal a negative outlook on the trust or the broader commodities market. This might warrant a re-evaluation of their own investment thesis.

Key Numbers

• 0 — Shares Beneficially Owned (Wells Fargo & Company's beneficial ownership in BlackRock Resources & Commodities Strategy Trust as of December 31, 2023.)
• 41-0449260 — Tax ID (Tax ID for Wells Fargo & Company.)

Key Players & Entities

• Wells Fargo & Company (company) — the reporting person that filed the SC 13G/A
• BlackRock Resources & Commodities Strategy Trust (company) — the issuer whose securities are being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• Delaware (company) — place of organization for Wells Fargo & Company
• 09257A108 (company) — CUSIP Number for the securities

Forward-Looking Statements

• Other institutional investors may re-evaluate their positions in BlackRock Resources & Commodities Strategy Trust following Wells Fargo's complete divestment. (BlackRock Resources & Commodities Strategy Trust) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• wf_blackrockres_09257A108.htm (SC 13G/A) — 17KB
• 0000072971-24-000042.txt ( ) — 19KB

Ownership

Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 5,075,835 (b) Percent of class: 6.0% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 5,075,835 (iv) Shared power to dispose or to direct the disposition of: 0

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [].

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person. See Exhibit B

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group Not applicable.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group Not applicable.

Certification

Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. 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. Date: February 6, 2024 WELLS FARGO & COMPANY /s/ Patricia Arce Signature Patricia Arce, Designated Signer Name/Title Exhibit A EXPLANATORY NOTE This Schedule 13G is filed by Wells Fargo & Company on its own behalf and on behalf of any subsidiaries listed in Exhibit B. Aggregate beneficial ownership reported by Wells Fargo & Company under Item 9 on page 2 is on a consolidated basis and includes any beneficial ownership separately reported herein by a subsidiary. Exhibit B The Schedule 13G to which this attachment is appended is filed by Wells Fargo & Company on behalf of the following subsidiaries: Wells Fargo Advisors Financial Network, LLC (1) Wells Fargo Clearing Services, LLC (1) (1) Broker or dealer registered under section 15 of the Act (15 U.S.C. 78c)

View Full Filing

View this SC 13G/A filing on SEC EDGAR